<SEC-DOCUMENT>0001193125-25-317786.txt : 20251212
<SEC-HEADER>0001193125-25-317786.hdr.sgml : 20251212
<ACCEPTANCE-DATETIME>20251212172445
ACCESSION NUMBER:		0001193125-25-317786
CONFORMED SUBMISSION TYPE:	SUPPL
PUBLIC DOCUMENT COUNT:		12
FILED AS OF DATE:		20251212
DATE AS OF CHANGE:		20251212
EFFECTIVENESS DATE:		20251212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRANSALTA CORP
		CENTRAL INDEX KEY:			0001144800
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SUPPL
		SEC ACT:		
		SEC FILE NUMBER:	333-292019
		FILM NUMBER:		251569186

	BUSINESS ADDRESS:	
		STREET 1:		TRANSALTA PLACE
		STREET 2:		1400, 1100 - 1ST STREET S.E.
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2G 1B1
		BUSINESS PHONE:		403-267-2014

	MAIL ADDRESS:	
		STREET 1:		TRANSALTA PLACE
		STREET 2:		1400, 1100 - 1ST STREET S.E.
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2G 1B1
</SEC-HEADER>
<DOCUMENT>
<TYPE>SUPPL
<SEQUENCE>1
<FILENAME>d938159dsuppl.htm
<DESCRIPTION>SUPPL
<TEXT>
<HTML><HEAD>
<TITLE>SUPPL</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Filed pursuant to General Instruction II.L. of Form F-10<BR>File No. 333-292019 </P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PROSPECTUS SUPPLEMENT </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman"><B>(To the short form base shelf prospectus dated December&nbsp;9, 2025) </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g938159g61z80.jpg" ALT="LOGO" STYLE="width:3.03958in;height:0.533333in;">
 </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"><U><I>New&nbsp;Issue</I></U></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">December <B></B>11, 2025</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>US$400,000,000 </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>5.875% Senior Notes due 2034 </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>TRANSALTA CORPORATION </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:53%">&nbsp;</DIV></center>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman">We are offering US$400,000,000 aggregate principal amount of 5.875% senior notes due 2034 (the &#8220;<B>Notes</B>&#8221;). The Notes will bear
interest at the rate of 5.875% per annum. Interest on the Notes will be payable semi-annually in arrears on February&nbsp;1 and August&nbsp;1 of each year, beginning on August&nbsp;1, 2026 (long first coupon). The Notes will mature on February 1,
2034. <B>The effective yield on the Notes, if held to maturity, will be 5.970%. The Notes will be issued in United</B><B></B><B> States</B><B></B><B> dollars.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman">At any time on or after February&nbsp;1, 2029, we may redeem some or all of the Notes at the redemption prices set forth in this prospectus
supplement (this &#8220;<B>Prospectus Supplement</B>&#8221;), plus accrued and unpaid interest. Prior to February&nbsp;1, 2029, we may redeem some or all of the Notes at a price equal to 100% of the principal amount thereof, plus accrued and unpaid
interest, plus a &#8220;make-whole&#8221; premium. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman">In addition, prior to February&nbsp;1, 2029, we may redeem up to 40% of the aggregate
principal amount of the securities issued under the Indenture (as defined herein) in an amount not to exceed the amount of the proceeds of certain equity offerings at the redemption price set forth in this Prospectus Supplement, plus accrued and
unpaid interest. We will also have the option to redeem the Notes in whole and not in part at 100% of the aggregate principal amount of the Notes, plus accrued and unpaid interest, in the event of certain changes to Canadian withholding tax laws or
the enforcement or interpretation thereof. Upon the occurrence of a Change of Control Triggering Event (as&nbsp;hereinafter defined), holders of the Notes will have the right to require us to repurchase all or any part of their Notes at a repurchase
price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman">The Notes will be our senior unsecured
obligations and will rank equally in right of payment with all of our existing and future senior indebtedness and senior in right of payment to all of our future subordinated indebtedness. The Notes will be effectively subordinated to any of our
future secured indebtedness to the extent of the value of the assets securing such indebtedness. None of our existing and future subsidiaries will guarantee the Notes. As a result, the Notes will be structurally subordinated to all existing and
future obligations of our subsidiaries, including trade payables and indebtedness. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman">The underwriters, as principals, conditionally offer
the Notes, subject to prior sale, if, as and when issued by us and accepted by the underwriters in accordance with the conditions contained in the underwriting agreement referred to under &#8220;<I>Underwriting</I>&#8221; in this Prospectus
Supplement. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.5pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.50pt solid #000000">&nbsp;</DIV>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman"><B>Investing in the Notes involves risks. See &#8220;</B><B><I><A HREF="#srom938159_7">Risk Factors</A></I></B><B>&#8221; in this Prospectus
Supplement beginning on page S-22 and under the heading &#8220;</B><B><I>Risk Factors</I></B><B>&#8221; beginning on page 15 of the accompanying short form base shelf prospectus dated December&nbsp;9, 2025 (the &#8220;Prospectus&#8221;). </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman"><B>Under applicable Canadian securities legislation, we may be considered to be a &#8220;connected issuer&#8221; of RBC Capital Markets, LLC,
CIBC World Markets Corp., BofA Securities, Inc., Morgan Stanley &amp; Co. LLC, Scotia Capital (USA) Inc., BMO Capital Markets Corp., TD Securities (USA) LLC, National Bank of Canada Financial Inc., ATB Securities Inc., Desjardins Securities Inc.,
MUFG Securities Americas Inc., J.P. Morgan Securities LLC and Mizuho Securities USA LLC, each of which is, directly or indirectly, a subsidiary or affiliate of one of our lenders to which we are currently indebted. In addition, certain of the
underwriters, or their subsidiaries or affiliates, may be holders of our 7.750% senior notes due 2029 (the &#8220;2029 Notes&#8221;). We intend to use the net proceeds from this offering, together with cash on hand, to redeem all of our outstanding
2029 Notes. In addition, affiliates of RBC Capital Markets, LLC collectively own approximately 9.5% of our issued and outstanding common shares. Accordingly, the Corporation may be considered a &#8220;related issuer&#8221; or a &#8220;connected
issuer&#8221; to RBC Capital Markets, LLC for purposes of applicable Canadian securities laws. See &#8220;</B><B><I>Underwriting</I></B><B>&#8221;. </B></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.5pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.50pt solid #000000">&nbsp;</DIV>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="62%"></TD>

<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&#8195;&#8195;&#8195;Per&nbsp;Note&#8195;&#8195;&#8195;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&#8195;&#8195;&#8195;Total&#8195;&#8195;&#8195;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">&#8194;Public Offering Price<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">99.385</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">397,540,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">&#8194;Underwriting Commission<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">&#8194;Proceeds to TransAlta<SUP STYLE="font-size:75%; vertical-align:top">(1)(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">98.135</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">392,540,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">The public offering price set forth above does not include accrued interest, if any. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">We refer you to &#8220;<I>Underwriting</I>&#8221; beginning on page S-51 of this Prospectus Supplement for
additional information regarding underwriting compensation. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Before deducting the expenses of the offering, which are estimated to be approximately US$1.5&nbsp;million.
</P></TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman"><B>The Notes will constitute a new issue of securities. There is no market through which Notes may be sold and
purchasers may not be able to resell Notes purchased under this Prospectus Supplement. This may affect the pricing of the Notes in the secondary market, the transparency and availability of trading prices, the liquidity of the Notes, and the extent
of issuer regulation. In addition, we do not intend to apply for listing of the Notes on any securities exchange. See &#8220;</B><B><I>Risk Factors</I></B><B>&#8221;</B><B><I> </I></B><B>in this Prospectus Supplement and in the Prospectus. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman"><B>THE NOTES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION (THE&nbsp;&#8220;SEC&#8221;) OR ANY
UNITED STATES STATE SECURITIES COMMISSION NOR HAS THE SEC OR ANY UNITED STATES STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS SUPPLEMENT OR THE PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE. </B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman"><B>This Prospectus Supplement qualifies the distribution of the Notes in each of the provinces of Canada solely for the
purpose of registering the Notes in the United States pursuant to the multijurisdictional disclosure system adopted by the United States. This Prospectus Supplement does not qualify the Notes for distribution to purchasers in Canada, or to residents
of Canada. See &#8220;</B><B><I>Underwriting</I></B><B></B><I></I><B></B><I>&nbsp;&#8211; </I><B></B><B><I>Offering Restrictions</I></B><B>&#8221;. This offering is made by a Canadian issuer that is permitted, under the multijurisdictional
disclosure system adopted by the United&nbsp;States, to prepare this Prospectus Supplement and the Prospectus in accordance with Canadian disclosure requirements. Prospective investors should be aware that such disclosure requirements are different
from those of the United&nbsp;States. The financial statements included herein have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (&#8220;IFRS&#8221;). As a
result, such financial statements may not be comparable to financial statements of United&nbsp;States companies. </B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman"><B>Prospective
investors should be aware that the acquisition of the Notes may have tax consequences both in the United&nbsp;States and Canada. Such tax consequences may not be described fully in this Prospectus Supplement or the Prospectus. You should read the
tax discussion under &#8220;</B><B><I>Certain Income Tax Considerations</I></B><B>&#8221; in this Prospectus Supplement and consult with your own tax advisor with respect to your own particular circumstances. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman"><B>The enforcement by investors of civil liabilities under United&nbsp;States federal securities laws may be affected adversely by the fact
that we are incorporated and organized under the laws of Canada, that most of our officers and directors are residents of Canada, that some of the underwriters or experts named in this Prospectus Supplement, the Prospectus and the documents
incorporated by reference in the Prospectus are residents of Canada, and that a substantial portion of our assets and the assets of said persons are located outside the United&nbsp;States. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman">RBC Capital Markets, LLC, on behalf of the underwriters, has advised us that the underwriters propose to offer the Notes to the public
initially at the public offering price specified above. After the underwriters have made a reasonable effort to sell all of the Notes offered by this Prospectus Supplement at the price specified above, the offering price of the Notes may be
decreased and may be further changed from time to time to an amount not greater than the price specified above. Any such reduction will not affect the proceeds we receive pursuant to the offering. In connection with this offering, RBC Capital
Markets, LLC may purchase and sell Notes in the open market. <B>As a result of these activities, the market price of the Notes offered under this Prospectus Supplement may be higher than the price that otherwise might exist in the open market. If
these activities are commenced, they may be discontinued by RBC Capital Markets, LLC at any time without notice. See &#8220;</B><B><I>Underwriting</I></B><B>&#8221; in this Prospectus Supplement.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman"><B>Our earnings coverage ratio on long-term debt for the twelve-month period ended September&nbsp;30, 2025 is less than one to one. See
&#8220;</B><B><I>Earnings Coverage</I></B><B>&#8221; in this Prospectus Supplement. </B></P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman">We expect to deliver the Notes to investors through the
<FONT STYLE="white-space:nowrap">book-entry</FONT> delivery system of The Depository Trust Company and its direct and indirect participants, including Euroclear Bank&nbsp;SA/NV and Clearstream Banking, S.A, against payment in New&nbsp;York,
New&nbsp;York on or about December&nbsp;22, 2025. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:9pt; font-family:Times New Roman">Our head and registered office is located Suite&nbsp;1400, 1100
1st&nbsp;Street&nbsp;S.E., Calgary, Alberta, T2G&nbsp;1B1. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:53%">&nbsp;</DIV></center>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><I>Joint Book-Running Managers </I></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="24%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="24%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top" ALIGN="center"><B>RBC Capital Markets</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>CIBC Capital Markets</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>BofA Securities</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Morgan Stanley</B></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><I>Co-Managers </I></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Scotiabank</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>BMO Capital Markets</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>TD Securities</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>National Bank of Canada<BR>Capital&nbsp;Markets</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>ATB Capital Markets</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Desjardins Capital Markets</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>MUFG</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>J.P. Morgan</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Mizuho</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Loop Capital Markets</B></TD></TR>
</TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>IMPORTANT NOTICE ABOUT INFORMATION IN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THIS PROSPECTUS SUPPLEMENT AND THE PROSPECTUS </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">This document is divided into two parts. The first part is this Prospectus Supplement, which describes the specific terms of the Notes and
also adds to and updates certain information contained in the Prospectus and the documents incorporated by reference into the Prospectus. The second part, the Prospectus, gives more general information, some of which may not apply to the Notes.
<B>Capitalized terms used in this Prospectus Supplement that are not defined herein have the meanings ascribed thereto in the Prospectus.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Except as set forth under &#8220;<I>The Offering</I>&#8221; and &#8220;<I>Description of Notes</I>&#8221; in this Prospectus Supplement or
under &#8220;<I>Description of Debt Securities</I>&#8221; in the Prospectus, and unless the context otherwise requires, all references in this Prospectus Supplement to &#8220;<B>TransAlta</B>&#8221;, the &#8220;<B>Corporation</B>&#8221;,
&#8220;<B>we</B>&#8221;, &#8220;<B>us</B>&#8221; and &#8220;<B>our</B>&#8221; mean TransAlta Corporation and its consolidated subsidiaries including any consolidated partnerships of which the Corporation or any of its subsidiaries are partners. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman"><B>If the description of the Notes or any other information varies between this Prospectus Supplement, the Prospectus and the documents
incorporated by reference in the Prospectus, you should rely on the information in this Prospectus Supplement. </B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman"><B>You should rely
only on the information contained in this Prospectus Supplement or contained in, or incorporated by reference into, the Prospectus or in any free writing prospectus we authorize and use in connection with the offering of the Notes. We have not, and
the underwriters have not, authorized anyone to provide you with different or additional information. We are not, and the underwriters are not, making an offer to sell the Notes in any jurisdiction where the offer or sale is not permitted. You
should assume that the information in this Prospectus Supplement and the Prospectus, as well as the information in any document incorporated by reference into the Prospectus previously filed with the SEC and with any securities regulatory authority
in Canada, is accurate only as of the respective dates of the applicable documents. Our business, properties, financial condition, results of operations and prospects may have changed since those dates. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PRESENTATION OF FINANCIAL INFORMATION </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In this Prospectus Supplement, unless otherwise specified or the context otherwise requires, all dollar amounts are expressed in Canadian
dollars. &#8220;<B>U.S.</B><B></B><B>&nbsp;dollars</B>&#8221; or &#8220;<B>US$</B>&#8221; means the lawful currency of the United&nbsp;States. Unless otherwise indicated, all financial information included in this Prospectus Supplement, the
Prospectus and the documents incorporated by reference in the Prospectus has been prepared in accordance with IFRS. Therefore, our consolidated financial statements included<B> </B><B></B>in the Prospectus Supplement may not be comparable to
financial statements of U.S.&nbsp;companies prepared in accordance with U.S.&nbsp;generally accepted accounting principles. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We use a
number of financial measures to evaluate our performance and the performance of our business segments, including measures and ratios that do not have any standardized meaning under IFRS (collectively,
&#8220;<B><FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures</B><B> and Ratios</B>&#8221;). We believe that these <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures and Ratios, read together with our IFRS amounts, provide investors
with a better understanding of how management assesses results. <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures and Ratios 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. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Adjusted earnings before interest, taxes, depreciation and
amortization (&#8220;<B>EBITDA</B>&#8221;), adjusted net debt to adjusted EBITDA are some of the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures and Ratios presented in this Prospectus Supplement. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Readers should refer to the &#8220;<I>Highlights</I>&#8221; and &#8220;<I><FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary
Financial Measures</I>&#8221; sections of our management&#8217;s discussion and analysis of financial condition and results of operations as at and for the three and nine months ended September&nbsp;30, 2025 and 2024 (the &#8220;<B>Interim
MD&amp;A</B>&#8221;) for the composition of each <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measure and Ratio, the most directly comparable IFRS measure, how these <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures and Ratios provide
useful information to an investor, and quantitative reconciliations to the nearest applicable IFRS measures. The Interim MD&amp;A is incorporated by reference in the Prospectus and is available under our profile on the System for Electronic Data
Analysis and Retrieval+ at <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.sedarplus.ca</U></FONT><FONT STYLE="font-family:Times New Roman"> (&#8220;<B>SEDAR+</B>&#8221;). </FONT></P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Prospectus Supplement </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_1">EXCHANGE RATE INFORMATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-1</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_2">SPECIAL NOTE REGARDING <FONT STYLE="white-space:nowrap">FORWARD-LOOKING</FONT> STATEMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-2</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_3">DOCUMENTS INCORPORATED BY REFERENCE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-4</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_4">WHERE YOU CAN FIND MORE INFORMATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-5</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_5">SUMMARY</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-6</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_6">THE OFFERING</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-19</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_7">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-22</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_8">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-24</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_9">PRIOR SALES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-25</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_10">CAPITALIZATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-26</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_11">DESCRIPTION OF NOTES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-27</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_12">EARNINGS COVERAGE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-46</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_13">CERTAIN INCOME TAX CONSIDERATIONS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-47</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_14">UNDERWRITING </A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-51</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_15">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-55</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#srom938159_16">EXPERTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-56</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibits </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="15%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit&nbsp;&#8220;A&#8221;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#srom938159_17">Annual Audited Financial Statements as at and for the Years Ended December&nbsp;31, 2024 and 2023</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">SA-1</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit&nbsp;&#8220;B&#8221;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#srom938159_18">Annual Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">SB-1</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit&nbsp;&#8220;C&#8221;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#srom938159_19">Interim Unaudited Financial Statements as at and for the Three and Nine Months Ended September&nbsp;30, 2025</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">SC-1</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit&nbsp;&#8220;D&#8221;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#srom938159_20">Interim Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">SD-1</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Prospectus </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="97%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_1">ABOUT THIS PROSPECTUS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_2">DOCUMENTS INCORPORATED BY REFERENCE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_3">WHERE TO FIND MORE INFORMATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_4">MARKETING MATERIALS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_5">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_6">TRANSALTA CORPORATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_8">CONSOLIDATED CAPITALIZATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_9">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_10">EARNINGS COVERAGE RATIOS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_11">DESCRIPTION OF SHARE CAPITAL</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_12">DESCRIPTION OF WARRANTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_13">DESCRIPTION OF SUBSCRIPTION RECEIPTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_14">DESCRIPTION OF DEBT SECURITIES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_15">DESCRIPTION OF UNITS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_16">CERTAIN INCOME TAX CONSIDERATIONS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_17">SELLING SHAREHOLDER</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_18">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_19">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_20">ENFORCEABILITY OF CIVIL LIABILITIES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_21">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_22">INTEREST OF EXPERTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_23">AUDITORS, TRANSFER AGENT AND REGISTRAR</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_24">DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">s-i </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_1"></A>EXCHANGE RATE INFORMATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">TransAlta publishes its consolidated financial information in Canadian dollars. The following table sets forth the Canada/U.S.&nbsp;exchange
rates on the last day of the periods indicated as well as the high, low and average rates for such periods. The high, low and average exchange rates for each period were identified or calculated from spot rates in effect on each trading day during
the relevant period. The exchange rates shown are expressed as the number of U.S.&nbsp;dollars required to purchase one Canadian dollar. These exchange rates are based on those published on the Bank of Canada&#8217;s website on each trading day
(the&nbsp;&#8220;<B>Bank of Canada rate</B>&#8221;). On December&nbsp;10, 2025, the Bank of Canada rate was US$0.7228 equals $1.00. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="45%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Nine Months Ended<BR>September&nbsp;30,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year Ended<BR>December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&#8195;&#8195;2025&#8195;&#8195;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&#8195;&#8195;2024&#8195;&#8195;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&#8195;&#8195;2023&#8195;&#8195;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&#8195;&#8195;2022&#8195;&#8195;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">High for period</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7376</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7510</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7617</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.8031</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Low for period</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.6848</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.6937</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7207</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7217</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Rate at end of period</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7183</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.6950</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7561</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7383</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Average rate for the period<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7149</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7409</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">US$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">0.7686</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">The average of the Bank of Canada rate on the last day of each month during the applicable period.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-1 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_2"></A>SPECIAL NOTE REGARDING
<FONT STYLE="white-space:nowrap">FORWARD-LOOKING</FONT> STATEMENTS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">This Prospectus Supplement, the Prospectus and the documents
incorporated by reference in the Prospectus contain &#8220;forward-looking information&#8221; and &#8220;forward-looking statements&#8221; (collectively, &#8220;<B>forward-looking statements</B>&#8221;) within the meaning of applicable securities
laws, including the &#8220;safe harbor&#8221; provisions of the <I>Securities Act </I>(Alberta), the United States <I>Private Securities Litigation Reform Act of 1995, </I>Section&nbsp;21E of the United States <I>Securities Exchange Act of 1934,
</I>as amended (the &#8220;<B>U.S. Exchange Act</B>&#8221;), and Section&nbsp;27A of the United States <I>Securities Act of 1933, </I>as amended (the &#8220;<B>Securities Act</B>&#8221;). All <FONT STYLE="white-space:nowrap">forward-looking</FONT>
statements are based on TransAlta&#8217;s beliefs as well as assumptions based on information available at the time the assumption was made and on management&#8217;s experience and perception of historical trends, current conditions and expected
further developments as well as other factors deemed appropriate in the circumstances. <FONT STYLE="white-space:nowrap">Forward-looking</FONT> statements are not facts, but only predictions and generally can be identified by the use of statements
that include phrases such as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;believe&#8221;, &#8220;expect&#8221;, &#8220;anticipate&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;foresee&#8221;, &#8220;potential&#8221;,
&#8220;enable&#8221;, &#8220;continue&#8221;, &#8220;estimate&#8221;, &#8220;would&#8221; or other words or phrases of similar import. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors, many of which are beyond the
Corporation&#8217;s control, that could cause actual events, outcomes or results to differ materially from those expressed or implied in the forward-looking statement. Although the Corporation believes that the assumptions and expectations conveyed
by such forward-looking statements are reasonable based on information available on the date they are made, there can be no assurance that such assumptions and expectations will prove to be correct. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In particular, this Prospectus Supplement, the Prospectus and the documents incorporated by reference in the Prospectus contain <FONT
STYLE="white-space:nowrap">forward-looking</FONT> statements pertaining to the following: the anticipated closing of the offering of the Notes, including the timing thereof; the net proceeds from the offering and the use of such proceeds; our credit
ratings outlook; the terms of the Notes; ceasing coal-fired electricity generation by the end of 2025; our greenhouse gas (&#8220;<B>GHG</B>&#8221;) emissions reduction targets and our carbon <FONT STYLE="white-space:nowrap">net-zero</FONT> goal by
2045, specifically with reductions in production including lower wind resource; opportunities available to the Corporation in the Alberta market; the continued value of our ancillary services product; the benefits of the Heartland Generation
acquisition; our intention to maintain a conservative credit profile; the expected completion of the Mount Keith West Network Upgrade by Q4 2025 and its anticipated average annual EBITDA; the benefits expected to arise through our pursuit of
accretive opportunities with existing and prospective customers at our legacy thermal sites in Alberta and Washington State; the expected continued return to shareholders; the anticipated policy developments on Alberta&#8217;s restructured energy
market by 2050, including the expected implementation timing; the transactions with Far North and PSE (each as defined herein), including expectations with respect to the timing and closing thereof, approvals required in connection therewith and the
attributes of the assets acquired thereunder; our expectations regarding our revenue, expenses and operations; our expected cash needs and needs for additional financing; the anticipated trends and challenges in our business and the markets in which
we operate; our expectation to continue maintaining adequate liquidity; and our expectation that the redemption of the 2029 Notes will be funded with the net proceeds of this offering, together with cash on hand. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The forward-looking statements contained in this Prospectus Supplement, the Prospectus and the documents incorporated by reference in the
Prospectus are based on many assumptions including, but not limited to, the following: our ability to complete the offering on a timely basis and on the terms expected; fulfillment by the underwriters of their obligations pursuant to the
underwriting agreement; that no event will occur which would allow the underwriters to terminate their obligations under the underwriting agreement; no significant changes to applicable laws and regulations beyond those that have already been
announced; no significant changes to fuel and purchased power costs; no material adverse impacts to long-term investment and credit markets; no significant changes to power price and hedging assumptions, including hedged volumes and prices; no
significant changes to gas commodity prices and transport costs; no significant changes to decommissioning and restoration costs; no significant changes to interest rates; no significant changes to the demand and growth of renewables generation; no
significant changes to the integrity and reliability of our&nbsp;assets; planned and unplanned </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
outages and use of our assets; and no significant changes to the Corporation&#8217;s debt and credit&nbsp;ratings. Although the Corporation believes that these assumptions are reasonable based on
currently available information, there can be no assurance that such assumptions will prove to be correct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">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 Prospectus Supplement, the Prospectus and the documents incorporated by reference in the Prospectus include risks relating to: fluctuations in power prices; changes in supply and demand for electricity;
our ability to contract our electricity generation for prices that will provide expected returns; our ability to replace contracts as they expire; risks associated with development projects and acquisitions; any difficulty raising needed capital in
the future on reasonable terms or at all; our ability to achieve our targets relating to environment, social and governance (&#8220;<B>ESG</B>&#8221;); long-term commitments on gas transportation capacity that may not be fully utilized over time;
changes to the legislative, regulatory and political environments; environmental requirements and changes in, or liabilities under, these requirements; operational risks involving our facilities, including unplanned outages and equipment failure;
disruptions in the transmission and distribution of electricity; reductions in production; impairments and/or writedowns of assets; adverse impacts on our information technology systems and our internal control systems, including increased
cybersecurity threats; commodity risk management and energy trading risks; reduced labour availability and ability to continue to staff our operations and facilities; disruptions to our supply chains; climate-change related risks; reductions to our
generating units&#8217; relative efficiency or capacity factors; general economic risks, including deterioration of equity and debt markets, increasing interest rates or rising inflation; general domestic and international economic and political
developments, including potential trade tariffs; industry risk and competition; counterparty credit risk; inadequacy or unavailability of insurance coverage; increases in the Corporation&#8217;s income taxes and any risk of reassessments; legal,
regulatory and contractual disputes and proceedings involving the Corporation; reliance on key personnel; and labour relations matters.&nbsp;Additional information about material factors that could cause actual results to differ materially from
expectations and about material factors or assumptions applied in making forward-looking statements may be found in this Prospectus Supplement and the Prospectus under &#8220;<I>Risk Factors</I>&#8221; as well as in our management&#8217;s discussion
and analysis of financial condition and results of operations as of and for the year ended December&nbsp;31, 2024 (the &#8220;<B>Annual MD&amp;A</B>&#8221;) and the Annual Information Form (as defined herein), and elsewhere in TransAlta&#8217;s
filings with the Canadian and U.S. securities regulators. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Readers are urged to consider these factors carefully in evaluating the <FONT
STYLE="white-space:nowrap">forward-looking</FONT> statements and are cautioned not to place undue reliance on these <FONT STYLE="white-space:nowrap">forward-looking</FONT> statements. The <FONT STYLE="white-space:nowrap">forward-looking</FONT>
statements included in this Prospectus Supplement, the Prospectus and the documents incorporated by reference in the Prospectus are made only as of the date such statements and the Corporation does not undertake to publicly update these <FONT
STYLE="white-space:nowrap">forward-looking</FONT> statements to reflect new information, future 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&#8217;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. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_3"></A>DOCUMENTS INCORPORATED BY REFERENCE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">As of the date of this Prospectus Supplement, the following documents filed with the securities commissions or similar authorities in each of
the provinces of Canada and with the SEC are specifically incorporated by reference into the Prospectus: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">our annual information form dated February&nbsp;19, 2025 for the year ended December&nbsp;31, 2024 (the
&#8220;<B>Annual Information Form</B>&#8221;); and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">our management proxy circular dated March&nbsp;7, 2025, prepared in connection with the Corporation&#8217;s
annual and special meeting of shareholders held on April&nbsp;24, 2025. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">This Prospectus Supplement is deemed to be
incorporated by reference into the Prospectus solely for the purposes of the offering of Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Any documents of the type required to be
incorporated by reference in a short form prospectus pursuant to National <FONT STYLE="white-space:nowrap">Instrument&nbsp;44-101&nbsp;&#8212;</FONT> Short Form Prospectus Distributions of the Canadian Securities Administrators, including any
documents of the type referred to above or under &#8220;<I>Documents Incorporated by Reference</I>&#8221; in the Prospectus, material change reports (excluding confidential material change reports) and business acquisition reports we subsequently
file with any securities commissions or similar authorities in Canada after the date of this Prospectus Supplement and prior to the termination of any offering of the Notes under this Prospectus Supplement shall be deemed to be incorporated by
reference into the Prospectus. These documents are available through the internet on SEDAR+, which can be accessed at <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.sedarplus.ca</U></FONT><FONT
STYLE="font-family:Times New Roman">. In addition, any similar documents we file with, or furnish to, the SEC pursuant to Section&nbsp;13(a), 13(c) or 15(d) of the U.S. Exchange Act on or after the date of this Prospectus Supplement and prior to the
termination of this distribution of Notes, shall be deemed to be incorporated by reference into the Prospectus and the registration statement on <FONT STYLE="white-space:nowrap">Form&nbsp;F-10</FONT> of which this Prospectus Supplement and the
Prospectus form&nbsp;a part, if and to the extent expressly provided in such report, except that any report on Form <FONT STYLE="white-space:nowrap">6-K</FONT> shall be incorporated only to the extent expressly provided in such report. To the extent
that any document incorporated by reference into the Prospectus is included in a report that is filed with or furnished to the SEC by us on Form <FONT STYLE="white-space:nowrap">40-F,</FONT> <FONT STYLE="white-space:nowrap">20-F,</FONT> <FONT
STYLE="white-space:nowrap">10-K,</FONT> <FONT STYLE="white-space:nowrap">10-Q,</FONT> <FONT STYLE="white-space:nowrap">8-K</FONT> or <FONT STYLE="white-space:nowrap">6-K</FONT> (or any respective successor form), such document shall also be deemed
to be incorporated by reference as an exhibit to the registration statement on Form <FONT STYLE="white-space:nowrap">F-10</FONT> of which this Prospectus Supplement and the Prospectus form a part. Our reports on
<FONT STYLE="white-space:nowrap">Form&nbsp;6-K,</FONT> and our annual reports on <FONT STYLE="white-space:nowrap">Form&nbsp;40-F,</FONT> are available on the SEC&#8217;s website at&nbsp;</FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.sec.gov</U></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman"><B>Any statement contained in this Prospectus Supplement, the Prospectus, or in a document incorporated or deemed to be incorporated by
reference therein, shall be deemed to be modified or superseded for the purposes of this Prospectus Supplement to the extent that a statement contained herein or therein or in any other subsequently filed document that also is or is deemed to be
incorporated by reference therein modifies or supersedes such statement. </B>The modifying or superseding statement need not state that it has modified or superseded a prior statement or include any other information set forth in the document that
it modifies or supersedes.<B> </B>The making of a modifying or superseding statement is not to be deemed an admission for any purposes that the modified or superseded statement, when made, constituted a misrepresentation, an untrue statement of a
material fact or an omission to state a material fact that is required to be stated or that is necessary to make a statement not misleading in light of the circumstances in which it was made. Any statement so modified or superseded shall not be
deemed, except as so modified or superseded, to constitute a part of this Prospectus Supplement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We will provide without charge to each
person to whom this Prospectus Supplement is delivered, including any beneficial owner, upon written or oral request of such person, a copy of any or all of the documents incorporated by reference in the Prospectus (other than exhibits to such
documents, unless such exhibits are specifically incorporated by reference in such documents). Requests should be directed to TransAlta Corporation, TransAlta at Suite 1400, 1100 1st Street S.E., Calgary, Alberta, T2G 1B1, Attention: Corporate
Secretary, telephone number <FONT STYLE="white-space:nowrap">(403)&nbsp;267-7110.</FONT> These documents are also available on SEDAR+ at <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.sedarplus.ca</U></FONT><FONT
STYLE="font-family:Times New Roman"> and on EDGAR at </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.sec.gov</U></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_4"></A>WHERE YOU CAN FIND MORE INFORMATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We have filed with the SEC under the U.S.&nbsp;Securities Act a registration statement on
<FONT STYLE="white-space:nowrap">Form&nbsp;F-10</FONT> relating to the Notes and of which this Prospectus Supplement and the Prospectus form&nbsp;a part. This Prospectus Supplement and the Prospectus do not contain all of the information set forth
in such registration statement, certain items of which are contained in the exhibits to such registration statement as permitted or required by the rules and regulations of the SEC. See &#8220;<I>Documents Filed as Part of the Registration
Statement</I>&#8221; in the Prospectus. Statements made in this Prospectus Supplement and the Prospectus as to the contents of any contract, agreement or other document referred to are not necessarily complete, and in each instance, reference is
made to the exhibit, if applicable, for a more complete description of the relevant matter, each such statement being qualified in its entirety by such reference. Items of information omitted from this Prospectus Supplement and the Prospectus but
contained in the registration statement on <FONT STYLE="white-space:nowrap">Form&nbsp;F-10</FONT> are available on the SEC&#8217;s website at&nbsp;<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.sec.gov</U></FONT><FONT
STYLE="font-family:Times New Roman">. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We are subject to the information requirements of the U.S.&nbsp;Exchange Act, and, in
accordance therewith, file reports and other information with the SEC. Under the multijurisdictional disclosure system adopted in the United&nbsp;States, such reports and other information, subject to certain exceptions, may be prepared in
accordance with the disclosure requirements of Canada, which requirements are different from those of the United&nbsp;States. We are exempt from the rules under the U.S.&nbsp;Exchange Act prescribing the furnishing and content of proxy statements,
and our officers, directors and principal shareholders are exempt from the reporting and short swing profit recovery provisions contained in Section&nbsp;16 of the U.S.&nbsp;Exchange Act. Under the U.S.&nbsp;Exchange Act, we are not required to
publish financial statements as promptly as United&nbsp;States companies. Such reports and other information are available on the SEC&#8217;s EDGAR website
at&nbsp;<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.sec.gov</U></FONT><FONT STYLE="font-family:Times New Roman">. Prospective investors may read and download any public document that we have filed with the
securities regulatory authorities in each of the provinces of Canada on SEDAR+ at </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.sedarplus.ca</U></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-5 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_5"></A>SUMMARY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman"><I>The following is a summary of certain information contained in this Prospectus Supplement, the Prospectus and the documents incorporated by
reference in the Prospectus. It does not purport to be complete and is qualified in its entirety by, is subject to, and should be read in conjunction with, the detailed information contained elsewhere in this Prospectus Supplement, the Prospectus
and the documents incorporated by reference in the Prospectus. It does not contain all the information about our business or the offering that you should consider before investing in the Notes. Terms not defined in this summary are defined elsewhere
in this Prospectus Supplement. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>TransAlta Corporation </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">TransAlta Corporation is one of Canada&#8217;s largest publicly traded power generators, owning and operating a diverse fleet across Canada,
the United States and Western Australia. Our portfolio includes hydro, wind, solar, battery storage, natural gas and coal, complemented by our exceptional asset optimization and energy marketing capabilities. As one of Canada&#8217;s largest
producers of wind and thermal generation and Alberta&#8217;s largest producer of hydro power, TransAlta remains committed to a balanced, technology-agnostic generation mix. With strong cash flows underpinned by a high-quality portfolio, we strive to
deliver sustainable long-term value in an evolving energy landscape. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Our goal is to deliver solutions to meet our customers&#8217; needs
for reliable, sustainable power. With over a century of experience, TransAlta is a trusted partner delivering tailored solutions. Our strategic priorities include optimizing our Alberta portfolio, executing our growth plan, realizing the value of
our legacy thermal assets, defining the next generation of power solutions and leading in ESG and market policy development. We are primarily focused on opportunities within our core markets of Canada, the United States and Western Australia. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Our sustainability goals include our commitment to cease coal-fired generation at the end of 2025. We remain on track to achieve our 2026
target of 75% scope&nbsp;1 and&nbsp;2 GHG emissions reductions since 2015 and our carbon <FONT STYLE="white-space:nowrap">net-zero</FONT> goal by 2045. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Business of TransAlta </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Our business is
comprised of six segments: (i)&nbsp;Hydro; (ii)&nbsp;Wind and Solar; (iii)&nbsp;Gas; (iv)&nbsp;Energy Transition; (v)&nbsp;Energy Marketing; and (vi)&nbsp;Corporate. Our Hydro, Wind and Solar, Gas and Energy Transition segments are responsible for
operating and maintaining our electrical generation facilities in Canada, the United States and Western Australia. Our Energy Marketing segment is responsible for marketing and scheduling our merchant asset fleet in North America (excluding Alberta)
along with the procurement of gas, transport and storage for our gas fleet, providing knowledge to support our growth team, and generating a stand-alone gross margin separate from our asset business through a leading North American energy marketing
platform. These segments are all supported by the Corporate segment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following provides more detailed information on these business
segments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Hydro Segment </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The
Hydro segment has a net ownership interest of approximately 922&nbsp;MW of owned hydroelectric generating capacity. The facilities are located in Alberta, British Columbia and Ontario. As well as contracting for power, we enter into long-term and
short-term contracts to sell the environmental attributes from our merchant hydro facilities. Generally, for facilities under long-term contract, the benefit of the environmental </P>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-6 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
attributes generated is provided to the contract holder. The following table summarizes our hydroelectric facilities as at September&nbsp;30, 2025: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:6pt" ALIGN="center">


<TR>

<TD WIDTH="27%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Facility Name</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Province/&nbsp;State</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Nameplate<BR>Capacity<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Consolidated<BR>Interest</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Gross&nbsp;Installed<BR>Capacity<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Ownership</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Net&nbsp;Capacity<BR>Ownership<BR>Interest&nbsp;(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Commercial<BR>Operation<BR>Date<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Revenue<BR>Source<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Contract&nbsp;Expiry<BR>Date<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="7" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;Alberta&nbsp;&#8211; Bow River System</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Barrier<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">13</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1947</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Bearspaw<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">17</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1954</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Cascade<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">36</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1942, 1957</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Ghost<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">54</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1929,&nbsp;1954</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Horseshoe<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">14</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1911</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Interlakes<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">5</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1955</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Kananaskis<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">19</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1913, 1951</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Pocaterra<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">15</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1955</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Rundle<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1951, 1960</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Spray<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">112</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1951, 1960</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Three
Sisters<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">3</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1951</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="7" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;Alberta&nbsp;&#8211; Oldman River System</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Belly River<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">3</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1991</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>St. Mary<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">2</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1992</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Taylor<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">13</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">2000</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Waterton<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">3</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">3</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1992</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="10" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;Alberta&nbsp;&#8211; North Saskatchewan River
System<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></P></TD>
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:6pt; font-family:Times New Roman"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Bighorn<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">120</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1972</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Brazeau<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">355</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">355</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">355</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1965, 1967</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">-</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;BC Hydro</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Akolkolex<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">BC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">10</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1995</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">2046</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Bone Creek<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">BC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">19</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">2011</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">2031</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Pingston<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">BC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">45</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">50%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">2003, 2004</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">2043</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Upper
Mamquam<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">BC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">25</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">25</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">25</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2005</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">2045</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="3" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;Ontario Hydro</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Misema</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">ON</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">3</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">2003</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">2027</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Moose Rapids<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">ON</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1997</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="center">2030</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:1.00em; font-size:6pt; font-family:Times New Roman"><B>Ragged Chute</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">ON</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">7</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">7</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">100%</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">7</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1991</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="center">2029</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="3" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;Total Hydroelectric Capacity</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>944</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;" ALIGN="center"><B>922</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;" ALIGN="center"><B>922</B></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">MW are rounded to the nearest whole number. The gross installed capacity reflects the basis of consolidation of
underlying assets owned, whereas net capacity ownership interest deducts capacity attributable to the <FONT STYLE="white-space:nowrap">non-controlling</FONT> interest in these assets and is calculated after the consolidation of underlying assets.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">A second date in this column refers to a second unit that was subsequently operational. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">The large majority of the Corporation&#8217;s contracted operating facilities benefit from inflation adjustment
provisions that apply to all or a portion of our revenues under such contracts. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Where no contract expiry date is indicated, the facility operates as merchant. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">These facilities form part of the hydro assets that are subject to the Investment Agreement (as defined herein).
See the &#8220;<I>Capital and Loan Structure</I><I></I><I>&nbsp;&#8211; Exchangeable Securities</I><I></I><I>&nbsp;&#8211; Investment Agreement</I>&#8221; section of this AIF for further details. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">These facilities are EcoLogo&reg; certified. EcoLogo certification is granted to products with an environmental
performance that meets or exceeds all government, industrial safety and performance standards. </P></TD></TR></TABLE>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-7 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Wind and Solar Segment </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">As at September&nbsp;30, 2025, the Wind and Solar segment held interests in approximately 2,559&nbsp;MW of net wind and solar generating
capacity. This capacity consists of twelve wind facilities in Western Canada, four in Ontario, two in Qu&eacute;bec, three in New Brunswick and eight in the United States, more specifically in the states of Washington, Wyoming, Minnesota, Oklahoma,
Pennsylvania and New Hampshire. The Corporation also holds a 10&nbsp;MW utility-scale battery energy storage system in Alberta, 143&nbsp;MW of solar facilities in the states of Massachusetts and North Carolina, and a 38&nbsp;MW solar facility and a
10&nbsp;MW battery energy storage system in Western Australia. In addition to contracting for the sale of the power generation, we also enter into long-term and short-term contracts to sell the environmental attributes from the merchant wind and
solar facilities. Generally, for facilities under a long-term power purchase agreement, the purchaser under such long-term contracts also benefits from any environmental attributes associated with the facility. The following table summarizes our
Wind and Solar generation facilities as at September&nbsp;30, 2025: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:6pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="5%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="4%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="9%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="6%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="7%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Facility&nbsp;Name</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Province/<BR>State</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Nameplate<BR>Capacity<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Consolidated<BR>Interest</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Gross&nbsp;Installed<BR>Capacity&nbsp;(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Ownership</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Net&nbsp;Capacity<BR>Ownership&nbsp;Interest<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Commercial<BR>Operation&nbsp;Date<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Revenue<BR>Source<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Contract&nbsp;Expiry<BR>Date<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="5" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" COLSPAN="5" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Alberta Wind</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:6pt; font-family:Times New Roman">Ardenville<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">69</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">69</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">69</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">2010</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:6pt; font-family:Times New Roman">Blue Trail and Macleod Flats<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">69</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">69</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">69</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2009&nbsp;and&nbsp;2004</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Castle River<SUP STYLE="font-size:75%; vertical-align:top">(5)(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">44</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">44</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">44</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="white-space:nowrap">1997-2001</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Cowley North<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">20</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">20</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">20</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2001</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Garden Plain</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">130</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">130</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">130</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2023</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="white-space:nowrap">2035-2041</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">McBride Lake<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">75</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">50%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">38</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">38</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2004</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Oldman<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2007</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Sinnott<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">5</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">5</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">5</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2001</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Soderglen<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">71</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">50%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">36</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">36</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2006</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Summerview 1<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">68</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">68</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">68</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2004</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Summerview 2<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">66</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">66</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">66</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2010</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Windrise</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">206</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">206</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">206</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">2021</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">2041</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="11" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" COLSPAN="11" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Alberta Battery Energy Storage</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">WindCharger</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">AB</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">10</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">100%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">10</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">100%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">10</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">2020</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">Merchant</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="11"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" COLSPAN="11" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Eastern Canada Wind</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Kent Breeze</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">ON</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">20</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">20</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">20</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2011</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2031</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Kent Hills 1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">NB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">96</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">96</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">83%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">80</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2008</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2045</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Kent Hills 2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">NB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">54</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">54</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">83%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">45</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2010</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2045</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Kent Hills 3</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">NB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">17</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">17</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">83%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">14</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2018</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2045</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Le&nbsp;Nordais<SUP STYLE="font-size:75%; vertical-align:top">(5)(7)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">QC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">98</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">98</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">98</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">1999</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2033</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Melancthon 1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">ON</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">68</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">68</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">68</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2006</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2031</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Melancthon 2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">ON</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">132</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">132</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">132</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2008</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2034</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">New Richmond<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">QC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">68</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">68</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">68</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2013</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2033</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Wolfe Island</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">ON</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">198</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">198</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">198</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">2009</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">2034</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="5" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" COLSPAN="5" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>US Wind</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Antrim</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">NH</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">29</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">29</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">29</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2019</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2039</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Big Level</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">PA</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">90</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">90</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">90</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2019</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2034</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Horizon Hill</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">OK</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">202</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">202</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">202</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2024</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Lakeswind</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">MN</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2014</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2034</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:6pt; font-family:Times New Roman">Skookumchuck Wind</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">WA</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">137</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">49%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">67</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">67</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2020</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2040</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">White Rock East</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">OK</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">202</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">202</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">202</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2024</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">White Rock West</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">OK</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2024</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Wyoming Wind</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">WY</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">140</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">140</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">140</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">2003</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">2028</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>US Solar</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Mass Solar<SUP STYLE="font-size:75%; vertical-align:top"> (7)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">MA</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">21</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">21</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">21</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="white-space:nowrap">2012-2015</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2032-2045</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:6pt; font-family:Times New Roman">North Carolina Solar<SUP STYLE="font-size:75%; vertical-align:top">(7)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">NC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">122</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">122</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">122</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;"><FONT STYLE="white-space:nowrap">2019-2021</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">2033</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;"><B>Australian Solar</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:6pt; font-family:Times New Roman">Northern Goldfields<SUP
STYLE="font-size:75%; vertical-align:top">(7)</SUP></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">WA</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">38</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">100%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">38</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">100%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">38</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">2023</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">LTC</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">2038</TD></TR></TABLE>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-8 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:6pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="5%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="4%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="9%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="6%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="7%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Facility&nbsp;Name</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Province/<BR>State</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Nameplate<BR>Capacity<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Consolidated<BR>Interest</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Gross&nbsp;Installed<BR>Capacity&nbsp;(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Ownership</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Net&nbsp;Capacity<BR>Ownership&nbsp;Interest<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Commercial<BR>Operation&nbsp;Date<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Revenue<BR>Source<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;"><B>Contract&nbsp;Expiry<BR>Date<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="11" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" COLSPAN="11" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><B>Australia Battery Energy Storage</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:6pt; font-family:Times New Roman">Northern Goldfields Battery</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">WA</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">10</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">10</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">10</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">2023</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:2pt ;">2038</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="3" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-BOTTOM:1px solid #000000;"><B>Total Wind and Solar Capacity</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000;"><B>2,729</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000;"><B>2,587</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000;"><B>2,559</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">MW are rounded to the nearest whole number. The gross installed capacity reflects the basis of consolidation of
the underlying assets owned, whereas net capacity ownership interest deducts capacity attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interest in these assets and is calculated after consolidation of the underlying assets.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">A second date in this column refers to a second facility that was subsequently operational.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">The large majority of the Corporation&#8217;s contracted operating facilities benefit from inflation adjustment
provisions that apply to all or a portion of our revenues under such contracts. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Where no contract expiry date is indicated, the facility operates as merchant. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">These facilities are EcoLogo&reg; certified. EcoLogo certification is granted to products with an environmental
performance that meets or exceeds all government, industrial safety and performance standards. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Includes seven additional turbines at other locations. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(7)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Includes multiple facilities. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Gas Segment </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Gas segment has
a net ownership interest of approximately 4,525&nbsp;MW of owned gas electrical-generating capacity. The facilities are located in British Columbia, Alberta, Ontario, Michigan and Western Australia. This segment includes our ownership interest in a
natural gas pipeline located in Western Australia. The following table summarizes our <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-fired</FONT></FONT> generation facilities as September&nbsp;30, 2025: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:6pt" ALIGN="center">


<TR>

<TD WIDTH="24%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Facility Name</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:Times New Roman" ALIGN="center"><B>Province/</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:Times New Roman" ALIGN="center"><B>State</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Nameplate<BR>Capacity<BR>(MW)(1)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Consolidated<BR>Interest</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Gross&nbsp;Installed<BR>Capacity<BR>(MW)(1)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Ownership</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Net&nbsp;Capacity<BR>Ownership<BR>Interest<BR>(MW)(1)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Commercial<BR>Operation&nbsp;Date</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Revenue<BR>Source(2)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;"><B>Contract&nbsp;Expiry<BR>Date(3)</B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="3" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="3" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;British
Columbia</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">McMahon</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">BC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">120</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">60</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">60</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1993</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2029</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="3" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="3" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;Alberta</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Battle River 4</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">155</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">155</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">155</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1975</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Battle River 5</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">395</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">395</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">395</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1981</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Fort Saskatchewan<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">118</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">60%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">71</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">35</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1999</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC/Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2029</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Joffre</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">474</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">40%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">190</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">190</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2000</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC/Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2041</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Keephills Unit No.&nbsp;2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">395</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">395</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">395</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1984</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Keephills Unit No.&nbsp;3</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">466</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">466</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">466</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2011</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Muskeg River</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">202</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">202</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">202</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2003</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2042</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Poplar Creek<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">230</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">230</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">230</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2001</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2030</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Primrose</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1998</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2028</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Scotford</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">195</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">195</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">195</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2003</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC/Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2043</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Sheerness&nbsp;Unit&nbsp;No.1<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">400</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">400</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">75%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">300</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1986</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Sheerness&nbsp;Unit&nbsp;No.2<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">400</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">400</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">75%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">300</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1990</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Sundance Unit No.&nbsp;6</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">401</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">401</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">401</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1980</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Valleyview 1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2001</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Valleyview 2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">AB</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2008</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">-</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="3" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="3" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;Total Alberta
Gas Capacity</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>4,031</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>3,650</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>3,414</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="11"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="11" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;Ontario and
U.S.</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Ada</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">MI</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">29</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">29</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">29</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1991</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2026</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Ottawa<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">ON</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">74</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">74</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">37</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1992</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC/Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2033</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Sarnia</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">ON</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">499</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">499</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">499</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2003</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2031</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Windsor<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">ON</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">72</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">72</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">36</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1996</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC/Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2031</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="3" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="3" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; text-indent:-0.20em; font-size:6pt; font-family:Times New Roman"><B>Total Ontario and
U.S.&nbsp;Gas Capacity</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>674</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>674</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>601</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR></TABLE>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-9 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:6pt" ALIGN="center">


<TR>

<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Facility Name</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:Times New Roman" ALIGN="center"><B>Province/</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:Times New Roman" ALIGN="center"><B>State</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Nameplate<BR>Capacity<BR>(MW)(1)</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Consolidated<BR>Interest</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Gross&nbsp;Installed<BR>Capacity<BR>(MW)(1)</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Ownership</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Net&nbsp;Capacity<BR>Ownership<BR>Interest<BR>(MW)(1)</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Commercial<BR>Operation&nbsp;Date</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Revenue<BR>Source(2)</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Contract&nbsp;Expiry<BR>Date(3)</B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="11"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="11" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;Australia</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Fortescue River Gas Pipeline</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">WA</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">N/A</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">N/A</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">43%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">N/A</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2015</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2035</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Parkeston</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">WA</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">110</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">50%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">55</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">55</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1996</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC/Merchant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2027</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">South Hedland</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">WA</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">150</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">150</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">150</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2017</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2042</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.75em; font-size:6pt; font-family:Times New Roman">Southern Cross<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">WA</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">245</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">245</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">245</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">1996</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;">2038</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="3" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="3" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;Total Australian
Gas Capacity</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>505</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>450</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>450</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="3"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="3" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>&#8201;Total Gas
Capacity</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>5,330</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>4,834</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>4,525</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">MW are rounded to the nearest whole number. The gross installed capacity reflects the basis of consolidation of
the underlying assets owned, whereas net capacity ownership interest deducts capacity attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interest in these assets and is calculated after the consolidation of the underlying
assets. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">The large majority of the Corporation&#8217;s contracted operating facilities benefit from inflation adjustment
provisions that apply to all or a portion of our revenues under such contracts. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Where no contract expiry date is indicated, the facility operates as merchant. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Our interests in these facilities are through our ownership interest in TransAlta Cogeneration, LP.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">The Poplar Creek facility is operated by Suncor Energy Inc. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Includes four facilities. Excludes the Northern Goldfields facilities, which are in the Wind and Solar segment.
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Energy Transition Segment </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Energy Transition segment has a net ownership interest of approximately 671&nbsp;MW of owned generating capacity. The segment includes one
remaining operating unit at Centralia, the Skookumchuck hydro facility, the retired Centralia unit, the retired Alberta thermal units, the Highvale mine and the mine reclamation activities. The following table summarizes our energy transition
facilities as at September&nbsp;30, 2025: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:6pt" ALIGN="center">


<TR>

<TD WIDTH="24%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Facility&nbsp;Name</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Province/State</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Nameplate<BR>Capacity<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Consolidated<BR>Interest</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Gross&nbsp;Installed<BR>Capacity<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Ownership</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Net&nbsp;Capacity<BR>Ownership<BR>Interest<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Commercial<BR>Operation&nbsp;Date</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Revenue&nbsp;Source</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>Contract&nbsp;Expiry<BR>Date</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #000000;"><B>&#8201;U.S.</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Centralia</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">WA</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">670</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">670</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">670</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">1971</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">LTC/Merchant</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2025</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman">Skookumchuck<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">WA</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">100%</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">1970</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">LTC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;">2025</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>&#8201;Total Energy Transition Capacity</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>671</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>671</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>671</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">MW are rounded to the nearest whole number. The gross installed capacity reflects the basis of consolidation of
underlying assets owned, whereas net capacity ownership interest deducts capacity attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interest in these assets and is calculated after consolidation of underlying assets.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">This facility is used to provide a reliable water supply to the Centralia facility. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Energy Marketing Segment </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Our
Energy Marketing segment provides a number of strategic functions, including the following: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Gathering and analyzing market trends to enable more effective strategic planning and decision-making;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Actively engaging in the trading of power, natural gas and environmental products across a variety of North
American markets, excluding Alberta; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Negotiating and managing fuel supply arrangements with third parties for our generation assets, including
scheduling, billing and settlement of physical deliveries of natural gas and other fuels; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Negotiating and entering into contractual agreements with customers for the sale of output from our generation
assets outside of Alberta, including electricity, steam or other energy-related commodities. </P></TD></TR></TABLE>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-10 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Energy Marketing segment derives all of its revenue by trading electricity and other
energy commodities (i.e.,&nbsp;fuels and environmental products), by providing <FONT STYLE="white-space:nowrap">fee-based</FONT> asset management services to third parties and earning margins on third-party gas and power transactions. The
origination and trading activities are primarily focused on proprietary trading, with additional focus on the existing assets and customers of the Corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Corporate Segment </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporate
segment supports each of the above segments and includes the Corporation&#8217;s finance, sustainability, legal, human resources, administrative, business development and investor relations functions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Map of Operations </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following map
outlines the Corporation&#8217;s operations as of September&nbsp;30, 2025. </P> <P STYLE="font-size:50pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g938159g82c12.jpg" ALT="LOGO" STYLE="width:5.10256in;height:3.75641in;">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Our Competitive Strengths </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Diversified Portfolio of High-Quality Assets </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We own and operate a fleet of power generation assets diversified across geography and fuel type. For the nine months ending
September&nbsp;30, 2025, our total adjusted EBITDA,<SUP STYLE="font-size:75%; vertical-align:top">1</SUP> excluding the results of our Corporate segment, was generated: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">25% by our unique portfolio of large-scale, dispatchable hydro facilities in Alberta, British Columbia and
Ontario; </P></TD></TR></TABLE><DIV STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:26%">&nbsp;</DIV> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8.5pt; font-family:Times New Roman"><SUP
STYLE="font-size:75%; vertical-align:top">1</SUP> As of the nine months ending September&nbsp;30, 2025, our total earnings before income taxes, the most directly comparable IFRS measure, excluding the results of our Corporate segment, was generated:
69% by our Hydro Segment, (39%) loss by our Wind and Solar Segment, 32% by our Gas Segment, 4% by our Energy Transition Segment and 17% by our Energy Marketing Segment. </P>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-11 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">24% by our fleet of wind and solar facilities located across Canada and the United States, as well as in Western
Australia; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">35% by our fleet of efficient natural gas facilities located in British Columbia, Alberta, Ontario, Michigan and
the state of Western Australia; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">9% by our Energy Transition segment, comprised of one remaining operating unit at Centralia, the Skookumchuck
hydro facility, the retired Centralia unit, retired Alberta thermal units, the Highvale mine and the mine reclamation activities; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">7%<B> </B>by our Energy Marketing segment, which generates revenue from the wholesale trading of electricity and
other energy-related commodities and derivatives. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Stable Cash Flow Profile with Commitment to Contracted Cash Flow Growth
</I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Our cash flow profile is supported by long-term power purchase agreements with credit-worthy counterparties. As of
September&nbsp;30, 2025 approximately 51% of our total installed capacity is contracted, and contracts are primarily with strong creditworthy counterparties with a weighted average contract life of approximately 9<B> </B>years. As existing contracts
approach expiration, we actively engage with our customers to extend offtake agreements in a mutually beneficial manner. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">For the Alberta
portfolio, which predominantly sells power on a merchant basis, we reduce cash flow volatility by selling forward production and by hedging the cost of natural gas. For the nine months ended September&nbsp;30, 2025, we hedged 6,764 GWh or 76% of
production and have hedged 1,898&nbsp;GWh of Q4 2025 production. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following table provides our contracted capacity by&nbsp;MW and as a
percentage of total gross installed capacity of our facilities across the regions in which we operate as of September&nbsp;30, 2025:<SUP STYLE="font-size:75%; vertical-align:top"> </SUP> </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:6pt" ALIGN="center">


<TR>

<TD WIDTH="67%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;"><B>As at September&nbsp;30, 2025</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000;"><B>Hydro</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000;"><B>Wind&nbsp;&amp;&nbsp;Solar</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000;"><B>Gas<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000;"><B>Energy&nbsp;Transition</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000;"><B>Total</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>Alberta</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#8211;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">336</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">887</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#8211;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1,223</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>Canada, excluding Alberta</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">88</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">751</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">705</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#8211;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1,544</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>U.S.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#8211;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1,024</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">29</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">301</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">1,354</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>Western Australia</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#8211;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">48</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">450</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#8211;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">498</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>Total contracted capacity (MW)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><B>88</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><B>2,159</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><B>2,071</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><B>301</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><B>4,619</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:6pt">
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:Times New Roman"><B>Contracted capacity as a
% of total capacity (%)</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>10%</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>83%</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>43%</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>45%</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"><B>51%</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Includes contracted capacity of 436 MW from facilities acquired from Heartland Generation: 376 MW in Alberta and
60 MW in Canada, excluding Alberta. The figures exclude the contracted capacity of planned divestitures. Refer to the &#8220;<I>Significant and Subsequent Events</I>&#8221; section of the Annual MD&amp;A. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Leading Market Share in Alberta Power Market with World-Class Portfolio Optimization </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We believe portfolio diversification and operational expertise have us well-positioned to perform in an Alberta energy-only market. We believe
active portfolio management involving fleet-wide optimization of hydro facilities, wind facilities, a battery storage facility and <FONT STYLE="white-space:nowrap">co-fired</FONT> and converted natural
<FONT STYLE="white-space:nowrap">gas-fired</FONT> thermal facilities will allow us to remain a significant participant in the Alberta market. Further, we believe our integrated analytics, electricity trading, structuring and origination capability,
commercial and industrial sales business, along with natural gas and environmental product trading desks, allow us to take full advantage of both the evolving market and our changing fleet. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We have the largest hydro fleet in Alberta; an asset class that we believe is well-positioned to support the grid through an oversupply of
intermittent generating sources. We are currently the largest provider of ancillary services, a product that we expect will have increasing value as the continued <FONT STYLE="white-space:nowrap">build-out</FONT> of renewables increases </P>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-12 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
power price volatility. Our converted natural gas facilities run as pseudo peaking plants, making us the largest provider of peaking capacity in Alberta. We have a strong customer and commercial
contracting team, which supplements our commercial and industrial retail business. Our marketing platform allows us to further optimize our portfolio with dedicated natural gas trading and scheduling desks, as well as an environmental products desk
and a team of power traders, optimizers and analysts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">On December&nbsp;4, 2024, we completed our acquisition of Heartland Generation,
which further expands our portfolio capabilities adding 1,747&nbsp;MW of complementary capacity and approximately $100&nbsp;million of adjusted EBITDA. The fast-ramping nature of certain of the Heartland Generation units are well positioned to
respond to price volatility and deliver peaking capacity in periods of higher demand in the Alberta market. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Prudent Financial Profile with Strong
Liquidity and Access to Capital </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We intend to maintain a conservative credit profile as we continue to grow our contracted
renewables portfolio. We continue to maintain our adjusted net debt to adjusted EBITDA within our target range of 3.0 and 4.0&nbsp;times and as of September&nbsp;30, 2025 that ratio was 3.9&nbsp;times. We have a strong liquidity profile and maintain
access to capital with our $1.9&nbsp;billion syndicated revolving credit facility (&#8220;<B>Syndicated Credit Facility</B>&#8221;) maturing June&nbsp;30, 2029 and had $211&nbsp;million of cash and cash equivalents as of September&nbsp;30, 2025. We
primarily use balance sheet cash, funds from operations and corporate or asset level debt to finance our portfolio growth. When we engage in asset level financings, we seek to structure the debt quantum to an investment grade profile and fully
amortize the debt over the life of the contract. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Demonstrated ESG Results with Significant Reduction in Carbon Emissions </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We remain focused on investing in electricity solutions that meet the evolving needs of customers and communities. We take a balanced, prudent
and disciplined approach to capital allocation, which we believe positions us to achieve long-term value creation for shareholders. Our strategy prioritizes generating meaningful, risk-adjusted returns by optimizing our legacy thermal assets,
operating our diverse fleet of renewable facilities, our exceptional marketing and trading capabilities, and expanding our generating portfolio through the addition of contracted clean energy and gas assets. Given our skill set, competitive
advantages and market positioning, we believe we are well-positioned to capture significant opportunities in our core markets of Canada, the United States and Western Australia. The Corporation continues to make strong progress on key strategic
priorities, in an effort to ensure that the business remains resilient, growth-focused and aligned with the evolving energy landscape. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We
recognize the impact of climate change on society and our business both today and into the future. TransAlta&#8217;s renewable energy journey began 114&nbsp;years ago when we built the first hydro assets in Alberta, which still operate today. In
1993, we began operating our first wind facility, which was the first commercial wind facility in Canada; in 2014, we acquired our first solar facility; and, in 2020, we constructed our first battery storage facility. Today, we operate
60&nbsp;renewable power facilities across Canada, the United States&nbsp;and Western Australia. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We remain committed to creating a path to
resiliency in a decarbonizing world in support of the goals adopted under the Paris Agreement, and the goals adopted during subsequent international climate meetings. Our strategy is focused on the operation of our existing assets (wind, hydro,
solar, natural gas, battery storage and coal), the <FONT STYLE="white-space:nowrap">phase-out</FONT> of coal-fired electricity generation by the end of 2025, the development of electricity solutions through our technology agnostic approach and the
use of natural gas generation to ensure reliability. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We are committed to decarbonization with a target of reducing scope&nbsp;1
and&nbsp;2 greenhouse gas emissions by 75% from 2015 levels by 2026. Since 2018, we have retired 4,664&nbsp;MW of coal-fired generation capacity while converting 1,659&nbsp;MW to natural gas, significantly reducing our carbon footprint. TransAlta
will retire the last coal unit by December&nbsp;31, 2025. We remain on track to achieve our 2026&nbsp;GHG emissions reduction target and our carbon <FONT STYLE="white-space:nowrap">net-zero</FONT> goal by 2045. </P>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-13 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In 2021, we amended our Syndicated Credit Facility to provide for sustainability-linked
loans. The Syndicated Credit Facility&#8217;s financing terms align the cost of borrowing to our GHG emissions reduction, which is part of our overall ESG strategy. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In addition, in 2022 and 2025, TransAlta issued US$400&nbsp;million ($533&nbsp;million) and $450&nbsp;million, respectively, in senior notes
and an amount equal to the net proceeds from the bonds has been allocated to finance or refinance new and/or existing eligible green projects. The bonds were issued under the Green Financing Framework, which was developed in line with the Green Bond
Principles 2021 published by the International Capital Market Association. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We have a long history of adopting leading sustainability
practices, including 30&nbsp;years of sustainability reporting and also voluntarily integrating our sustainability report into our Annual MD&amp;A. We partially adopt guidance from the Canadian Sustainability Standards Board, International
Sustainability Standards Board, International Financial Reporting Standards (IFRS) Foundation, International Integrated Reporting Framework, Global Reporting Initiative and the Sustainability Accounting Standards Board requirements for electric
utilities and power generators. We continue to monitor the development of sustainability- and climate-related disclosure requirements in the jurisdictions in which we operate to assess our future reporting obligations. Moreover, we align our
sustainability targets with the UN Sustainable Development Goals. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Strategic Investment by Brookfield </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">On March&nbsp;22, 2019, the Corporation entered into an agreement (the&nbsp;&#8220;<B>Investment Agreement</B>&#8221;) whereby Brookfield
Renewable Partners (&#8220;<B>Brookfield</B>&#8221;) agreed to invest $750&nbsp;million in the Corporation through the purchase of exchangeable debentures and redeemable first preferred shares, Series&nbsp;I, each of which is exchangeable by
Brookfield into an equity ownership interest in certain of TransAlta&#8217;s Alberta hydro assets in the future at a value based on a multiple of the Alberta hydro assets&#8217; future-adjusted EBITDA. Under the terms of the Investment Agreement,
Brookfield committed to purchase the Corporation&#8217;s common shares on the open market to increase its share ownership in the Corporation to not less than 9%. In connection with the Investment Agreement, Brookfield is entitled to nominate two
directors for election to the board of directors of the Corporation (the&nbsp;&#8220;<B>Board</B>&#8221;). As of January&nbsp;6, 2025, Brookfield held approximately 9% of our issued and outstanding common shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Visible pipeline of development projects for sustained future growth </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We develop and acquire generation and storage facilities in highly competitive markets. Our track record as an experienced operator and
developer supports our competitive position. We try, where possible, to reduce our cost of capital and improve our competitive profile through efficient financing structures. In the United States, our substantial tax attributes further increase our
competitiveness. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We are primarily evaluating greenfield and brownfield opportunities in Western Canada and the United States along with
acquisitions in markets where we have existing operations and maintain highly qualified and experienced development teams to identify and develop these opportunities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">During the first quarter of 2025, we made a strategic investment in Nova Clean Energy, LLC (&#8220;<B>Nova</B>&#8221;), a developer of
renewable energy projects, that includes a US$75&nbsp;million term loan and US$100&nbsp;million revolving facility. This investment provides TransAlta with the exclusive right to purchase Nova&#8217;s late-stage development projects in the western
U.S. and the term loan is also convertible to a minority equity interest at TransAlta&#8217;s option. </P>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-14 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following project has been approved by the Board, has an executed power purchase
agreement and is currently under construction. This project will be financed through existing liquidity in the near term. We will continue to explore permanent financing solutions on an
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">asset-by-asset</FONT></FONT> basis. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="15%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="14%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="15%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Project</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Type</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Region</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Capacity<BR>&#8195;&#8195;(MW)&#8195;&#8195;</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Target&nbsp;Completion&#8201;</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Avg.&nbsp;Annual<BR>EBITDA<BR>&#8195;&#8194;($&nbsp;millions)&#8195;&#8194;</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom" ALIGN="center">Mount Keith West Network Upgrade</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">Transmission</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">Western Australia</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">N/A</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">Q4 2025</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">AU$6&nbsp;&#8211; AU$7</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Our Business Strategy </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We remain focused on investing in electricity solutions that meet the evolving needs of customers and communities. We take a balanced, prudent
and disciplined approach to capital allocation, ensuring long-term value creation. Our strategy prioritizes generating meaningful, risk-adjusted returns by optimizing our legacy thermal assets, operating our diverse fleet of renewable facilities,
our established marketing and trading capabilities, and expanding our generating portfolio through the addition of contracted clean energy assets and selective gas assets. Given our skill set, competitive advantages and market positioning, we
believe we are well-positioned to capture significant opportunities in our core markets of Canada, the United States and Western Australia. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We continue to make strong progress on key strategic priorities, ensuring the business remains resilient, growth-focused and aligned with the
evolving energy landscape. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Optimize Alberta Portfolio </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In Alberta, we continue to proactively deploy hedging strategies to mitigate the impact of lower merchant power prices, along with
optimization activities. The acquisition of Heartland Generation has significantly strengthened our Alberta portfolio, adding 1,747&nbsp;MW of flexible capacity, including contracted cogeneration, peaking generation and transmission capacity. Of
note, the acquisition added 290&nbsp;MW of peaking gas capacity, which will be optimized within our larger portfolio to address increasing intermittency in Alberta. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We are maximizing the value of our hydro fleet by enhancing its operational capabilities and flexibility. We are also advancing initiatives to
maximize the value of our existing thermal assets and meet the growing demand for affordable and reliable power. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Execute Growth Plan </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In 2024, significant progress was made on growth initiatives, including our successful completion of our two Oklahoma wind facilities: the
302&nbsp;MW White Rock wind facilities and the 202&nbsp;MW Horizon Hill wind facility. We also achieved commercial operations for our Mount Keith Transmission Expansion project. These additions, along with the fully rehabilitated Kent Hills,
facilities are expected to contribute over $125&nbsp;million in adjusted EBITDA annually. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Our growth plan is guided by a
technology-agnostic approach, focusing on our core operating jurisdictions and clear target customer segments within them. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Realize the Value of
Legacy Generating Facilities </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We are seeing considerable opportunities to support the energy transition with sophisticated,
reliable and affordable power solutions in our core operating jurisdictions. Particularly, at our legacy thermal sites in Alberta and Washington State, where we are actively pursuing accretive opportunities with existing and prospective customers.
We believe that these sites hold significant value and provide unique advantages to customers. </P>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-15 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Maintain Financial Strength and Capital Discipline </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporation maintains a strong financial position, with $1.55&nbsp;billion in liquidity as of September&nbsp;30, 2025, and a disciplined
approach to capital allocation. The Corporation balances investments in growth, debt repayments and returns to shareholders through share repurchases and dividend payments. Reflecting confidence in the business, the annual common share dividend was
increased by 8% to $0.26 per share, our sixth consecutive dividend increase, effective July&nbsp;1, 2025. Define Next Generation of Power Solutions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We have been at the forefront of innovation in the power-generation sector since the early 1900s when we developed our first hydro assets. We
continue to make progress on our identification of the next generation of energy solutions that will be needed to power our customers&#8217; needs in an efficient, reliable and affordable manner. Refer to the&nbsp;&#8220;<I>Enabling Innovation and
Technology Adoption</I>&#8221; section of the Annual MD&amp;A for further discussion. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Lead in ESG and Market Policy Development </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporation is an active participant in policy development in all key markets in which we operate. Most notably, we are actively engaging
with the Government of Alberta and the Alberta Electric System Operator on Alberta&#8217;s restructured energy market, which is intended to deliver the objectives of reliability, affordability, and decarbonization by 2050 for the province. The
Corporation is committed to actively engaging in the AESO&#8217;s consultation process, to support the development of an investable market structure that can responsibly achieve a sustainable grid in a manner that ensures reliability and
affordability for Albertans. The AESO published the final design of its Restructured Energy Market (&#8220;REM&#8221;) on August&nbsp;27, 2025. This new framework is intended to modernize the province&#8217;s electricity market to enhance
reliability and attract investment for new technologies. The REM is expected to be implemented in 2027 or 2028, and we will continue our active engagement in the AESO consultation process, which is now focused on implementation. </P>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-16 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Organization Structure </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2024, the Corporation&#8217;s principal subsidiaries and their respective jurisdictions of formation are set out in
the organization chart below. The Corporation&#8217;s remaining subsidiaries and partnerships each account for (i)&nbsp;less than 10% of the Corporation&#8217;s consolidated assets as at December&nbsp;31, 2024 and (ii)&nbsp;less than 10% of the
Corporation&#8217;s consolidated revenues for the year ended December&nbsp;31, 2024. In aggregate, the Corporation&#8217;s subsidiaries and partnerships not listed below did not exceed 20% of the Corporation&#8217;s total consolidated assets or
total consolidated revenues as at and for the year ended December&nbsp;31, 2024: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g938159g39e99.jpg" ALT="LOGO" STYLE="width:6.17222in;height:3.06528in;">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Recent Developments </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Centralia Conversion and Long-Term Tolling Agreement </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">On December&nbsp;9, 2025 the Corporation announced that it has signed a long-term tolling agreement with Puget Sound Energy, Inc.
(&#8220;PSE&#8221;) to convert its Centralia Unit 2 facility from coal to natural <FONT STYLE="white-space:nowrap">gas-fired</FONT> generation. The agreement with PSE provides a fixed-price capacity payment that provides PSE with the exclusive right
to the capacity, energy and ancillary service attributes, as well as the dispatch rights to, the 700&nbsp;MW facility. Approximately US$600&nbsp;million of capital expenditures will be required to extend the useful life of the facility and convert
it from coal to natural <FONT STYLE="white-space:nowrap">gas-fired</FONT> generation. The target commercial operation date is late-2028 and the facility will operate until the end of 2044 under the terms of the agreement with PSE. The Corporation
anticipates declaring a final investment decision after receipt of all required approvals in early 2027. Completion of the transaction is subject to customary regulatory approvals, including PSE receiving satisfactory approval from the Washington
Utilities and Transportation Commission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Acquisition of 310 MW Contracted Ontario Gas Portfolio </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">On November&nbsp;17, 2025 the Corporation announced that it has entered into a definitive share purchase agreement with an affiliate of Hut 8
Corp. and Macquarie Equipment Finance Ltd., the equity owners of Far North Power Corporation (&#8220;<B>Far North</B>&#8221;), pursuant to which the Corporation will acquire Far North and its entire business operations in Ontario. Far North owns and
operates generation assets consisting of four natural <FONT STYLE="white-space:nowrap">gas-fired</FONT> generation facilities totaling 310 MW. The purchase price for the acquisition is $95&nbsp;million, subject to working
</P>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-17 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
capital and other adjustments. The transaction is expected to close in 2026, subject to customary closing conditions, including receipt of regulatory approvals. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Completion of Required Divestitures </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">On August&nbsp;1, 2025, we completed the sale of our 100% interest in the 48 MW Poplar Hill facility, followed by the sale of our 50% interest
in the 97 MW Rainbow Lake facility on October&nbsp;2, 2025. These divestitures were required under a consent agreement with the federal Competition Bureau in connection with regulatory approval of our acquisition of Heartland Generation. Energy
Capital Partners is entitled to receive the proceeds from both sales, net of certain adjustments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Credit Facility Extension </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">On July&nbsp;16, 2025, we executed agreements to extend our committed credit facilities totaling $2.1&nbsp;billion with a syndicate of
lenders. The syndicated facility size was reduced from $1.95&nbsp;billion to $1.90&nbsp;billion and its maturity was extended from June&nbsp;30, 2028 to June&nbsp;30, 2029. Our $240&nbsp;million bilateral credit facilities were extended by one year
to June&nbsp;30, 2027. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><FONT STYLE="white-space:nowrap">Re-contracting</FONT> of Ontario Wind Facilities </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">During the second quarter of 2025, we successfully <FONT STYLE="white-space:nowrap">re-contracted</FONT> Melancthon 1, Melancthon 2 and Wolfe
Island through the Ontario IESO Five-Year Medium-Term 2 Energy Contract (&#8220;MT2e&#8221;) . MT2e will replace the current energy contracts when they expire, extending contract terms to April&nbsp;30, 2031 for Melancthon 1 and April&nbsp;30, 2034
for Melancthon 2 and Wolfe Island. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Senior Notes Offering and Term Loan Repayment </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">On March&nbsp;24, 2025, we issued $450&nbsp;million of unsecured senior notes due in 2032 with a fixed annual coupon of 5.625%. Interest is
payable semi-annually on March&nbsp;24 and September 24. On March&nbsp;25, 2025, we repaid our $400&nbsp;million variable-rate term loan facility ahead of its maturity of September&nbsp;7, 2025, using proceeds from the senior notes offering. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Concurrent Redemption of the 2029 Notes </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We will issue a conditional notice of redemption to redeem all of our outstanding 2029 Notes. The redemption will be effected in accordance
with the indenture governing the 2029 Notes and is expected to be funded with the net proceeds from this offering, together with cash on hand. The redemption price will be determined in accordance with the terms of the 2029 Notes and their governing
indenture. The offering is not conditioned on the completion of the redemption of the 2029 Notes; however, the redemption will be conditioned upon the completion of the offering. The foregoing description is provided for informational purposes only
and does not constitute a notice of redemption, which will be made solely in accordance with the applicable indenture. </P>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-18 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_6"></A>THE OFFERING </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman"><I>The following is a brief summary of some of the terms of this offering. For a more complete description of the terms of the Notes, see
&#8220;Description of Notes&#8221; in this Prospectus Supplement and &#8220;Description of Debt Securities&#8221; in the Prospectus. In this section, &#8220;we&#8221;, &#8220;us&#8221; and &#8220;our&#8221; refer only to TransAlta Corporation and
not to any of its subsidiaries, unless otherwise stated. </I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="69%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;"><B>Issuer</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;">TransAlta Corporation.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;"><B>Notes Offered</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;">US$400,000,000 aggregate principal amount of 5.875% senior notes due 2034.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;"><B>Interest Rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;">The Notes will bear interest at the rate of 5.875% per annum from December&nbsp;22, 2025 or from the most recent date to which interest has been paid or provided
for.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;"><B>Interest Payment Dates</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;">February&nbsp;1 and August&nbsp;1 of each year, commencing August&nbsp;1, 2026 (long first coupon).</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;"><B>Maturity Date</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">February&nbsp;1, 2034.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;"><B>Ranking</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Notes will be our senior unsecured obligations and will:</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="margin-top:0pt;margin-bottom:0pt; display: table-row;"><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.150000em; font-family:Times New Roman">rank equally in right
of payment with all of our existing and future senior indebtedness;</P></DIV></DIV><DIV STYLE="margin-top:0pt;margin-bottom:0pt; display: table-row;"><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.150000em; font-family:Times New Roman">rank senior in right
of payment to all of our future subordinated indebtedness;</P></DIV></DIV><DIV STYLE="margin-top:0pt;margin-bottom:0pt; display: table-row;"><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.150000em; font-family:Times New Roman">be effectively
subordinated to any of our future secured indebtedness to the extent of the value of the assets securing such indebtedness; and</P></DIV></DIV><DIV STYLE="margin-top:0pt;margin-bottom:0pt; display: table-row;"><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.150000em; font-family:Times New Roman">be structurally
subordinated to all existing and future obligations, including trade payables and indebtedness, of all of our existing and future subsidiaries.</P></DIV></DIV> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">As of September&nbsp;30, 2025, after giving effect to this offering of the Notes and the use of proceeds therefrom as described under &#8220;<I>Use of
Proceeds</I>&#8221; in this Prospectus Supplement, we would have had approximately $3,996&nbsp;million of total long-term debt outstanding, including the Notes, of which $1,672&nbsp;million is secured. As at September&nbsp;30, 2025, the
Corporation&#8217;s subsidiaries had approximately $1,757&nbsp;million of total debt outstanding (excluding intercompany indebtedness and lease liabilities). None of our existing or future subsidiaries will guarantee the Notes.<B></B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Use of Proceeds</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt;">We expect that the net proceeds from this offering will be approximately US$391&nbsp;million after deducting
underwriting commissions and estimated expenses of this offering. We intend to use the net proceeds from this offering, together with cash on hand, to redeem the 2029 Notes.</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-19 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="69%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;"><B>Optional&nbsp;Redemption</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At any time prior to February&nbsp;1, 2029, we may redeem up to 40% of the
aggregate principal amount of the securities issued under the Indenture with an amount of cash not greater than the net cash proceeds from one or more Equity Offerings (as defined herein) at the redemption price set forth under &#8220;<I>Description
of Notes</I><I></I><I>&nbsp;&#8211; Optional Redemption</I>&#8221; in this Prospectus Supplement, if at least 60% of the aggregate principal amount of the securities issued under the Indenture remains outstanding immediately after such redemption
and the redemption occurs within 180 days of the closing date of such Equity Offering.</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At any time prior to February&nbsp;1, 2029, we may, on any one or more
occasions, redeem all or a part of the Notes at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus a &#8220;make whole&#8221; premium, plus accrued and unpaid interest, if any, to, but excluding, the redemption
date.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On and after February&nbsp;1, 2029, we may, on any one or more occasions,
redeem all or a part of the Notes at the redemption prices set forth under &#8220;<I>Description of Notes</I><I></I><I>&nbsp;&#8211; Optional Redemption</I>&#8221; in this Prospectus Supplement, plus accrued and unpaid interest, if any, to, but
excluding, the redemption date.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">See&nbsp;&#8220;<I>Description of
Notes</I><I></I><I>&nbsp;&#8211; Optional Redemption</I>&#8221; in this Prospectus Supplement.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional&nbsp;Amounts;</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>Tax Redemption</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All payments in respect of the Notes will be made without withholding or
deduction for any taxes or other governmental charges imposed or levied by or on behalf of any taxing authority, except to the extent required by law.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If such withholding or deduction is required by Canadian law, subject to certain exceptions, we will pay additional amounts so that the net amount you receive
is no less than what you would have received in the absence of such withholding or deduction.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">See&nbsp;&#8220;<I>Description of Notes</I><I></I><I>&nbsp;&#8211; Payment of Additional Amounts</I>&#8221; in this Prospectus Supplement.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If certain changes in Canadian law are proposed or become effective that would require
us to make additional payments with respect to taxes withheld from payments in respect of the Notes, we may redeem the Notes in whole, but not in part, at any time, at a redemption price equal to 100% of the principal amount of the Notes, plus
accrued and unpaid interest, if any, to, but excluding, the redemption date.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">See&nbsp;&#8220;<I>Description of Notes</I><I></I><I>&nbsp;&#8211; Tax Redemption</I>&#8221; in this Prospectus Supplement.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Change of Control</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>Triggering Event</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt;">We will be required to make an offer to repurchase the Notes at a price equal to 101% of their principal amount, plus
accrued and unpaid interest, if any, to, but not including, the date of repurchase upon the occurrence of a Change of Control Triggering Event. See&nbsp;&#8220;<I>Description of Notes</I><I></I><I>&nbsp;&#8211; Repurchase Upon Change of Control
Triggering Event</I>&#8221; in this Prospectus Supplement.</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-20 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="69%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;"><B>Certain Covenants</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Indenture pursuant to which the Notes will be issued contains certain
covenants that, among other things, limit:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="margin-top:0pt;margin-bottom:0pt; display: table-row;"><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.150000em; font-family:Times New Roman">our and our
subsidiaries&#8217; ability to create liens;</P></DIV></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="margin-top:0pt;margin-bottom:0pt; display: table-row;"><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.150000em; font-family:Times New Roman">our ability to enter
into sale and leaseback transactions; and</P></DIV></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="margin-top:0pt;margin-bottom:0pt; display: table-row;"><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; ">&#149;</P></DIV><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.150000em; font-family:Times New Roman">our ability to merge,
amalgamate or consolidate with, or sell all or substantially all of our assets to, any other person.</P></DIV></DIV></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;">See&nbsp;&#8220;<I>Description of Notes</I><I></I><I>&nbsp;&#8211; Covenants</I>&#8221; in this Prospectus Supplement. These covenants are subject to important exceptions
and qualifications that are described under the caption &#8220;<I>Description of Notes</I><I></I><I>&nbsp;&#8211; Covenants</I>&#8221; in this Prospectus Supplement.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;"><B>Form</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;">The Notes will be represented by one or more fully registered global notes deposited in book-entry form with, or on behalf of, DTC, and registered in the name of its
nominee. See&nbsp;&#8220;<I>Description of Notes</I><I></I><I>&nbsp;&#8211; Book-Entry System</I>&#8221; in this Prospectus Supplement. Except as described under &#8220;<I>Description of Notes</I>&#8221; in this Prospectus Supplement, Notes in
certificated form will not be issued.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;"><B>Governing Law</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:2pt;">The Notes and the Indenture governing the Notes will be governed by the laws of the State of New York.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8pt;">&nbsp;</TD>
<TD HEIGHT="16" COLSPAN="2" STYLE="BORDER-RIGHT:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="padding-bottom:8pt ;BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt;"><B>Risk Factors</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:8pt ;BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt;">Investing in the Notes involves risks. See&nbsp;&#8220;<I>Risk Factors</I>&#8221; in this Prospectus Supplement
beginning on page&nbsp;S-22 and under the heading &#8220;<I>Risk Factors</I>&#8221; beginning on page&nbsp;15 of the Prospectus.</TD></TR>
</TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-21 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_7"></A>RISK FACTORS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">An investment in the Notes is subject to a number of risks. In addition to the other information contained in this Prospectus Supplement, the
Prospectus and the documents incorporated by reference in the Prospectus, you should consider carefully the risk factors set forth below, as well as those set forth under the heading &#8220;<I>Risk Factors</I>&#8221; in the Prospectus and under the
headings &#8220;<I>Risk Factors</I>&#8221; and &#8220;<I>Governance and Risk Management</I>&#8221; in the Annual MD&amp;A.<I> </I>The risks and uncertainties described below, in the Prospectus and in the documents incorporated by reference in the
Prospectus are not the only ones applicable to an investment in the Notes. Additional risks and uncertainties that we are unaware of, or that we currently deem to be immaterial, may also become important factors that affect an investment in the
Notes. If any of the following risks actually occurs, our business, financial condition or results of operations could be materially adversely affected, with the result that the trading price of the Notes could decline and you could lose all or part
of your investment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>There is no public market for the Notes. </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Notes are a new issue of securities for which there is currently no public market. We do not intend to apply for listing of the Notes on
any securities exchange or to arrange for the Notes to be quoted on any automated dealer quotation system. If the Notes are traded after their initial issue, they may trade at a discount from their initial offering prices, depending on prevailing
interest rates, the market for similar securities and other factors, including general economic conditions and our financial condition. We cannot assure you as to the liquidity of the trading market for the Notes or that a trading market for the
Notes will develop. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Changes in interest rates may cause the market value of the Notes to decline. </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Prevailing interest rates will affect the market price or value of the Notes. The market price or value of the Notes may decline as prevailing
interest rates for comparable debt instruments rise, and increase as prevailing interest rates for comparable debt securities decline. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Changes in
our credit rating or outlook or in the rating assigned by a rating agency to the Notes could adversely affect the market price or liquidity of the Notes. </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Credit rating agencies continually revise their ratings and outlook for the companies that they follow, including us. The credit rating
agencies also evaluate our industry as a whole and may change their credit ratings or outlook for us based on their overall view of our industry. We cannot be sure that credit rating agencies will maintain their ratings on the Notes. A negative
change in our ratings or outlook could have an adverse effect on the market value of the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We expect that the Notes will be rated by
nationally recognized statistical rating agencies. We cannot assure you that any rating assigned will remain for any given period of time or that a rating will not be lowered or withdrawn entirely by a rating agency if, in that rating agency&#8217;s
judgment, circumstances relating to the basis of the rating, such as adverse changes in our business, so warrant. Any lowering or withdrawal of a rating by a rating agency could reduce the liquidity or market value of the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>The Notes are unsecured obligations of the Corporation. </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Notes will be our direct unsecured obligations, ranking equally and <I>pari passu</I>, except as to sinking fund or analogous provisions,
with all of our other unsecured and unsubordinated indebtedness. The Notes will be structurally subordinated to all indebtedness and other liabilities of our subsidiaries and will be effectively subordinated to all of our existing and future secured
indebtedness, to the extent of the value of the assets securing such secured indebtedness. If we are involved in any bankruptcy, dissolution, liquidation or reorganization, the holders of indebtedness and liabilities of our subsidiaries would be
paid before the holders of Notes receive any amounts due under the Notes and the holders of our secured indebtedness would be paid </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-22 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
before the holders of Notes receive any amounts due under the Notes, to the extent of the value of the assets securing such secured indebtedness. In that event, a holder of Notes may not be able
to recover any principal or interest due under the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>We may not be able to fulfill our repurchase obligations with respect to the Notes upon a
change of control. </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">If we experience a Change of Control Triggering Event, we will be required to make an offer to repurchase all
outstanding Notes at a repurchase price equal to 101% of the principal amount of the Notes repurchased, plus accrued and unpaid interest, if any, to, but not including, the applicable repurchase date. Failure to repurchase, or to make an offer to
repurchase, the Notes would constitute a default under the Indenture governing the Notes, which would also constitute a default under certain instruments governing our existing indebtedness. See&nbsp;&#8220;<I>Description of
Notes</I><I></I><I>&nbsp;&#8211; Repurchase Upon Change of Control Triggering Event</I>&#8221; in this Prospectus Supplement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">If a Change
of Control Triggering Event were to occur, we cannot assure you that we would have sufficient funds to repay any Notes that we would be required to offer to repurchase, or to satisfy any other obligations that would become immediately due and
payable under the other instruments governing our indebtedness, as a result of such Change of Control Triggering Event. In order to satisfy our obligations, we may attempt to refinance our indebtedness or obtain consents from our other lenders or
from the holders of the Notes. We cannot assure you that we would be able to refinance our indebtedness or obtain such consents on satisfactory terms or at all. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Because the Indenture governing the Notes will not contain limits on the amount of additional debt that we may incur, our ability to make timely
payments on the Notes may be adversely affected by the amount and terms of our future debt. </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Our ability to make timely payments
on our outstanding debt may depend on the amount and terms of our other obligations, including any other senior debt securities issued by the Corporation. The Indenture governing the Notes will not contain any limitation on the amount of
indebtedness or other liabilities that we or any of our subsidiaries may incur in the future, including additional senior debt securities. In the event we issue additional notes under the Indenture or incur other indebtedness, unless our earnings
grow in proportion to our debt and other fixed charges, our ability to service the Notes on a timely basis may become impaired. We expect that we will from time to time incur additional debt and other liabilities. In addition, TransAlta will not be
restricted from paying dividends on or repurchasing its securities under the Indenture governing the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>We may redeem the Notes before they
mature, which could occur when prevailing interest rates are relatively low. </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We may redeem all or any portion of the Notes at our
option as described under &#8220;<I>Description of Notes</I><I></I><I>&nbsp;&#8211; Optional Redemption.</I>&#8221; Any such redemption may occur when prevailing interest rates are lower than the rate borne by the Notes. These redemption rights may,
depending on prevailing market conditions at the time, create reinvestment risk for the noteholders in that they may be unable to find a suitable replacement investment with a comparable return to those Notes. If prevailing rates are lower at the
time of redemption, noteholders may not be able to reinvest the redemption proceeds in a comparable security at an effective interest rate as high as the interest rate on the Notes being redeemed. The redemption of the Notes also may adversely
affect noteholders&#8217; ability to sell the Notes if and at any time after the Notes are called for partial or full redemption. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-23 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_8"></A>USE OF PROCEEDS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We expect that the net proceeds from this offering will be approximately US$391&nbsp;million after deducting underwriting commissions and
estimated expenses of this offering. We intend to use the net proceeds from this offering, together with cash on hand, to redeem the 2029 Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The underwriting commission will be paid by the Corporation from the gross proceeds of the offering of Notes. The expenses of the offering
will be paid from the general funds of the Corporation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporation&#8217;s overall corporate strategy and major initiatives
supporting its strategy are summarized in the Annual MD&amp;A and the Annual Information Form. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-24 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_9"></A>PRIOR SALES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporation has not sold or issued any U.S. dollar denominated senior notes, or securities convertible into U.S. dollar denominated senior
notes, during the <FONT STYLE="white-space:nowrap">12-month</FONT> period prior to the date hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-25 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_10"></A>CAPITALIZATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following table sets forth TransAlta&#8217;s debt capitalization as at September&nbsp;30, 2025. TransAlta&#8217;s debt capitalization is
presented on an actual basis, and on an as adjusted basis, after giving effect to this offering and the application of the net proceeds therefrom as described under &#8220;<I>Use of Proceeds</I>&#8221;. As noted under &#8220;<I>Use of
Proceeds</I>&#8221;, we intend to use the net proceeds from this offering, together with cash on hand, to redeem the 2029&nbsp;Notes.<B> </B>As a result, it is expected that this offering will not result in an increase in our long-term debt except
on account of discounts, commissions and other expenses of this offering. You should read this table together with our unaudited consolidated financial statements for the three and nine months ended September&nbsp;30, 2025 which are included in this
Prospectus Supplement. All U.S. dollar amounts in the following table have been converted to Canadian dollars using the exchange rate of US$1.00 = $1.3922. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="42%"></TD>

<TD VALIGN="bottom" WIDTH="24%"></TD>
<TD style="width:131pt"></TD>
<TD></TD>
<TD></TD>
<TD style="width:131pt"></TD>

<TD VALIGN="bottom" WIDTH="24%"></TD>
<TD style="width:127pt"></TD>
<TD></TD>
<TD></TD>
<TD style="width:127pt"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman"><B></B><I>(in</I><B></B><I></I><B></B><I>&nbsp;millions of Canadian
dollars)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>As at<BR>&#8195;&#8195;&#8195;September&nbsp;30,&nbsp;2025&#8195;&#8195;&#8195;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>As adjusted
at<BR>&#8195;&#8195;&#8195;September&nbsp;30,&nbsp;2025</B><SUP STYLE="font-size:75%; vertical-align:top"></SUP><FONT STYLE="font-size:6pt"><SUP STYLE="font-size:75%; vertical-align:top">(1)<B>&#8195;&#8195;&#8195;</B></SUP><B></B></FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Cash and Cash Equivalents<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(211</TD>
<TD NOWRAP VALIGN="bottom">)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(182</TD>
<TD NOWRAP VALIGN="bottom">)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman"><B>Indebtedness</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Syndicated Credit Facility<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Bilateral Credit Facilities<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">-</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">-</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">7.300% Debentures due 2029</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">7.750% Senior Notes due 2029</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">557</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">-</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">6.900% Debentures due 2030</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">141</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">141</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">5.625% Senior Notes due 2032</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">446</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">446</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">5.875% Senior Notes due 2034 offered hereby</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">-</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">557</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">6.500% Senior Notes due 2040</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">408</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">408</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Exchangeable Debentures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">350</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">350</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Lease Obligations&nbsp;&amp; Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">148</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">148</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Project Bonds</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1,672</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1,672</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Tax Equity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Other Cash and Liquid Assets<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">OCP LP Restricted Cash<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman"><B>Total Net Indebtedness</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,785</B></TD>
<TD NOWRAP VALIGN="bottom"><B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,814</B></TD>
<TD NOWRAP VALIGN="bottom"><B></B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Exchangeable Preferred Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">400</TD>
<TD NOWRAP VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">400</TD>
<TD NOWRAP VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman"><B>Total Shareholders&#8217; Equity</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,612</B></TD>
<TD NOWRAP VALIGN="bottom"><B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,612</B></TD>
<TD NOWRAP VALIGN="bottom"><B></B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD>
<TD HEIGHT="2" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman"><B>Total Capitalization</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5,797</B></TD>
<TD NOWRAP VALIGN="bottom"><B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" >&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5,826</B></TD>
<TD NOWRAP VALIGN="bottom"><B></B></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Presented on an as adjusted basis, after giving effect to this offering, the application of the proceeds
therefrom as described under &#8220;<I>Use of Proceeds</I>&#8221; and the payment of the underwriting commission of US$5.0&nbsp;million and estimated expenses of this offering of approximately US$1.5&nbsp;million. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Cash and cash equivalents is net of bank overdraft. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">As of December&nbsp;4, 2025, under our Syndicated Credit Facility, Bilateral Credit Facilities and Heartland
Generation facilities, we have cumulative commitments available to be borrowed of $1.4&nbsp;billion (after giving effect to $794&nbsp;million of outstanding letters of credit). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Fair value of economic and designated hedging instruments on debt, as the carrying value of the related debt is
impacted by changes in foreign exchange rates. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman; " ALIGN="left">Principal portion of the TransAlta OCP LP restricted cash related to the TransAlta OCP LP bonds as this cash is
restricted specifically to repay outstanding debt. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-26 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_11"></A>DESCRIPTION OF NOTES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following description of the terms of the Notes supplements, and to the extent inconsistent therewith replaces, the description set forth
under the heading &#8220;<I>Description of Debt Securities</I>&#8221; in the Prospectus and should be read in conjunction with such description. In this section, &#8220;Corporation&#8221; refers only to TransAlta Corporation and not to any of its
subsidiaries, unless otherwise stated. All capitalized terms used under this heading &#8220;<I>Description of Notes</I>&#8221; that are not defined herein have the meanings ascribed thereto in the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>General </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Notes will be issued under
an indenture dated as of June 25, 2002 between TransAlta and The Bank of New York Mellon (formerly known as The Bank of New York) as trustee (the &#8220;<B>Trustee</B>&#8221;), as supplemented by a supplemental indenture to be dated as of the issue
date of the Notes (as so supplemented, the &#8220;<B>Indenture</B>&#8221;). The Indenture is subject to, and governed by, the United States<I> </I><I>Trust Indenture</I><I> </I><I>Act</I><I> </I><I>of</I><I> </I><I>1939</I>, as amended. The
following summary of certain provisions of the Indenture and the Notes does not purport to be complete and is qualified in its entirety by reference to the actual provisions of the Indenture. A copy of the Indenture will be available on SEDAR+ at <FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.sedarplus.ca</U></FONT><FONT STYLE="font-family:Times New Roman"> and on EDGAR at
</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.sec.gov</U></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Notes will be direct unsecured obligations of the Corporation and will rank equally and ratably with all other unsubordinated and
unsecured indebtedness of the Corporation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Payment of the principal, premium, if any, and interest on the Notes will be made in
U.S.&nbsp;dollars. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Form and Denominations </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Notes will be issuable in minimum denominations of US$2,000 or integral multiples of US$1,000 in excess&nbsp;thereof. The Notes will be
represented by one or more fully registered global notes deposited in book-entry form with DTC, New&nbsp;York, New&nbsp;York, and registered in the name of Cede&nbsp;&amp;&nbsp;Co. (DTC&#8217;s partnership nominee) or such other name as may be
requested by an authorized representative of DTC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Notes will initially be issued in an aggregate principal amount of US$400,000,000
and will mature on February&nbsp;1, 2034. The Notes will bear interest at the rate of 5.875% per annum from December&nbsp;22, 2025 or from the most recent date to which interest has been paid or provided for, payable semi-annually on
&#8195;&#8195;&#8195;&#8195; February&nbsp;1 and August&nbsp;1 of each year, commencing August&nbsp;1, 2026 (long first coupon), to the persons in whose names the Notes are registered at the close of business on the preceding January&nbsp;15 or
July&nbsp;15, respectively. Interest shall be computed assuming a <FONT STYLE="white-space:nowrap">360-day</FONT> year consisting of twelve <FONT STYLE="white-space:nowrap">30-day</FONT> months. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporation may from time to time, without the consent of the holders of the Notes, issue additional Notes after this offering. The Notes
and any additional Notes subsequently issued under the Indenture will be treated as a single class for all purposes under the Indenture (except in respect of the payment of interest accruing prior to the issue date of the additional Notes and the
first payment of interest following the issue date of the additional Notes), including, without limitation, waivers, amendments, redemptions and offers to purchase. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Notes will not be entitled to the benefits of any sinking fund. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Optional Redemption </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">On and after
February&nbsp;1, 2029, the Corporation may, at its option on one or more occasions, redeem all or a part of the Notes, upon notice as described under &#8220;<I>&#8211;</I><I></I><I>&nbsp;Selection and Notice</I>&#8221;, at the redemption prices
(expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the Notes to be redeemed to, but not including, the applicable redemption date (subject to the right of holders of record on the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-27 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date), if redeemed during the <FONT STYLE="white-space:nowrap">twelve-month</FONT>
period beginning on February&nbsp;1 of the years indicated below: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="63%"></TD>

<TD VALIGN="bottom" WIDTH="26%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman"><B>Year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&#8195;&#8195;&#8195;Percentage&#8195;&#8195;&#8195;</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">2029</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">102.9375%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">2030</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">101.46875%</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">2031&nbsp;and thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">100%</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">At any time prior to February&nbsp;1, 2029, the Corporation may, at its option on one or more occasions redeem
up to 40% of the aggregate principal amount of the securities issued under the Indenture, upon notice as described under &#8220;<I>&#8211;</I><I></I><I>&nbsp;Selection and Notice</I>&#8221;, at a redemption price of 105.875% of the principal amount,
plus accrued and unpaid interest, if any, to, but not including, the applicable redemption date (subject to the right of holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the
redemption date), with an amount of cash not greater than the net cash proceeds of one or more Equity Offerings by the Corporation, provided, that for purposes of calculating the principal amount of the Notes able to be redeemed with such cash
proceeds of such Equity Offering or Equity Offerings, such amount shall include only the principal amount of the Notes to be redeemed plus the premium on such Notes to be redeemed, provided further that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">(1)&#8195;&#8195;at least 60% of the aggregate principal amount of the securities issued under the Indenture remains outstanding immediately
after the occurrence of such redemption (excluding any such securities held by the Corporation and its Subsidiaries); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">(2)&#8195;&#8195;the redemption occurs within 180&nbsp;days of the date of the closing of the related Equity Offering. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In addition, at any time prior to February&nbsp;1, 2029, the Corporation may, at its option on one or more occasions, redeem all or a part of
the Notes, upon notice as described under &#8220;<I>&#8211;</I><I></I><I>&nbsp;Selection and Notice</I>&#8221;, at a redemption price equal to the sum of: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">(1)&#8195;&#8195;100% of the principal amount thereof, and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">(2)&#8195;&#8195;the Make Whole Premium (as defined herein) as of the applicable redemption date, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">plus accrued and unpaid interest, if any, to, but not including, the applicable redemption date (subject to the right of holders of record on the relevant
record date to receive interest due on an interest payment date that is on or prior to the redemption date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Business
Day</B>&#8221; means each day that is not a Saturday, Sunday or other day on which banking institutions in New York, New York, Calgary, Alberta or another place of payment are authorized or required by law to close. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Equity Offering</B>&#8221; means any public or private sale of capital stock of the Corporation made on a primary basis by the
Corporation (other than (a)&nbsp;capital stock that is mandatorily redeemable or otherwise required to be repurchased at the option of the holder thereof on or prior to the date that is 91&nbsp;days after the date on which the Notes mature and
(b)&nbsp;any sale to a Subsidiary of the Corporation). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Make Whole Premium</B>&#8221; means, with respect to a Note as of any
redemption date for such Note whose redemption price may be determined by reference to the Make Whole Premium, the excess, if any, of (1)&nbsp;the present value as of the applicable redemption date of (a)&nbsp;the redemption price of such Note at
February&nbsp;1, 2029 (such redemption price being set forth in the first full paragraph of this &#8220;<I>&#8211;</I><I></I><I>&nbsp;Optional Redemption</I>&#8221; section) plus (b)&nbsp;any required interest payments due on such Note through
February&nbsp;1, 2029 (except for accrued and unpaid interest to, but not including, the applicable redemption date), computed using a discount rate equal to the Treasury Rate plus 50 basis points, discounted to the redemption date on a semi-annual
basis (assuming a <FONT STYLE="white-space:nowrap">360-day</FONT> year consisting of twelve <FONT STYLE="white-space:nowrap">30-day</FONT> months), over (2)&nbsp;the then-outstanding principal amount of such Note. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-28 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Treasury Rate</B>&#8221; means, with respect to any redemption date for any Note
whose redemption price may be determined by reference to the Make Whole Premium, the yield to maturity as of the redemption date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Selected
Interest Rates (Daily)&#8211;H.15 that has become publicly available at least two Business Days prior to such date (or, if such statistical release is no longer published, any publicly available source of similar market data selected by the
Corporation)) most nearly equal to the period from such date to February&nbsp;1, 2029; <I>provided</I>, that if such period is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the
Corporation shall obtain the Treasury Rate by linear interpolation (calculated to the nearest <FONT STYLE="white-space:nowrap">one-twelfth</FONT> of a year) from the weekly average yields of United States Treasury securities for which such yields
are given, except that if the period from the redemption date to February&nbsp;1, 2029 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used.
Calculation of the Make Whole Premium and the Treasury Rate will be made by the Corporation or on behalf of the Corporation by such Person as the Corporation shall designate. The Corporation will (1)&nbsp;calculate the Treasury Rate and the Make
Whole Premium no later than the first (and no earlier than the fourth) Business Day preceding the applicable redemption date (or, in the case of any redemption in connection with a defeasance of the Notes or a satisfaction and discharge of the
Indenture, on the Business Day preceding such event), and (2)&nbsp;prior to such redemption date (or such event, as applicable), file with the Trustee a statement setting forth the Treasury Rate and the Make Whole Premium and showing the calculation
of each in reasonable detail. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Repurchase Upon Change of Control Triggering Event </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">If a Change of Control Triggering Event occurs, unless the Corporation has exercised its right to redeem the Notes as described under
&#8220;<I>&#8211;</I><I></I><I>&nbsp;Optional Redemption</I>&#8221;, each holder of Notes will have the right to require the Corporation to purchase all or a portion of such holder&#8217;s Notes pursuant to the offer described below
(the&nbsp;&#8220;<B>Change of Control Offer</B>&#8221;). In the Change of Control Offer, the Corporation will offer a payment (the&nbsp;&#8220;<B>Change of Control Payment</B>&#8221;) equal to 101% of the principal amount thereof, plus accrued and
unpaid interest, if any, thereon to, but not including, the date of purchase, subject to the rights of holders of Notes on the relevant record date to receive interest due on the relevant interest payment date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Within 30&nbsp;days following the date upon which the Change of Control Triggering Event occurred, or at the Corporation&#8217;s option, prior
to any Change of Control but after the public announcement of the pending Change of Control, the Corporation will be required to send, by first class mail or otherwise deliver (including by electronic delivery), a notice to each holder of Notes,
with a copy to the Trustee, which notice will govern the terms of the Change of Control Offer. Such notice will state, among other things, the purchase date, which must be no earlier than 10&nbsp;days nor later than 60&nbsp;days from the date such
notice is mailed or otherwise delivered (including by electronic delivery), other than as may be required by law (the&nbsp;&#8220;<B>Change of Control Payment Date</B>&#8221;). The notice, if mailed or otherwise delivered (including by electronic
delivery) prior to the date of consummation of the Change of Control, will state that the Change of Control Offer is conditional on the Change of Control being consummated on or prior to the Change of Control Payment Date. Each holder of Notes
electing to have Notes purchased pursuant to a Change of Control Offer will be required to surrender their Notes, with the form entitled &#8220;Option of Holder to Elect Purchase&#8221; on the reverse of the Note completed, to the paying agent at
the address specified in the notice, or transfer their Notes to the paying agent by book-entry transfer pursuant to the applicable procedures of the paying agent, prior to the close of business on the third business day prior to the Change of
Control Payment Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporation will not be required to make a Change of Control Offer if (a)&nbsp;a third party makes such an
offer in the manner, at the times and otherwise in compliance with the requirements for such an offer made by the Corporation and such third party purchases all Notes properly tendered and not withdrawn under its offer; (b)&nbsp;a notice of
redemption has been given, unless and until there is a default in payment of the applicable redemption price or (c)&nbsp;in connection with or in contemplation of any Change of Control, the Corporation or a third party has made an offer to purchase
(an &#8220;<B>Alternate Offer</B>&#8221;) any and all Notes validly tendered at a cash price equal to or higher than the Change of Control Payment and has purchased all Notes properly tendered in accordance with the terms of such Alternate Offer.
Notwithstanding anything to the contrary contained herein, a Change of Control Offer, tender offer or Alternate Offer by the Corporation or a third party may be made in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-29 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
advance of a Change of Control Triggering Event or Change of Control, conditioned upon the occurrence of such Change of Control Triggering Event or a Change of Control, if a definitive agreement
is in place for the Change of Control at the time the Change of Control Offer, tender offer or Alternate Offer is made. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In connection
with any Change of Control Offer, tender offer or Alternate Offer by the Corporation or any third party to purchase all of the Notes, if holders of not less than 90.0% of the aggregate principal amount of the then outstanding Notes validly tender
and do not validly withdraw such Notes in connection with such Change of Control Offer, tender offer or Alternate Offer and the Corporation or such third party purchases all of the Notes validly tendered and not validly withdrawn by such holders,
all of the holders of the Notes will be deemed to have consented to such Change of Control Offer, tender offer or Alternate Offer and accordingly, the Corporation or such third party (as applicable) will have the right upon not less than
10&nbsp;days&#8217; nor more than 60&nbsp;days&#8217; prior written notice, given not more than 60&nbsp;days following such purchase date pursuant to the Change of Control Offer, tender offer or Alternate Offer, to purchase all Notes that remain
outstanding following such purchase at a purchase price equal to the highest price offered to each other holder in such Change of Control Offer, tender offer or Alternate Offer, plus, to the extent not included in the Change of Control Offer, tender
offer or Alternate Offer, accrued and unpaid interest to, but excluding, the applicable purchase date (subject to the right of the holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior
to the applicable purchase date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The definition of Change of Control includes a phrase relating to the direct or indirect sale,
transfer, conveyance or other disposition of &#8220;all or substantially all&#8221; of the assets of the Corporation and its subsidiaries taken as a whole. Although there is a limited body of case law interpreting the phrase &#8220;substantially
all&#8221;, there is no precise established definition of the phrase under applicable law. Accordingly, the ability of a holder of Notes to require the Corporation to repurchase its Notes as a result of a sale, transfer, conveyance or other
disposition of less than all of the assets of the Corporation and its subsidiaries taken as a whole to another &#8220;person&#8221; may be uncertain. In addition, a Delaware Chancery Court decision raised questions about the enforceability of
provisions, which are similar to those in the Indenture, related to the triggering of a change of control as a result of a change in the composition of a board of directors. Accordingly, the ability of a holder of Notes to require the Corporation to
repurchase its Notes as a result of a change in the composition of the board of directors of the Corporation may be uncertain. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">To the
extent that the provisions of any applicable securities laws or regulations conflict with the Change of Control provisions of the Indenture, the Corporation will comply with the applicable securities laws and regulations and will not be deemed to
have breached its obligations under the Change of Control provisions of the Indenture by virtue of such compliance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Ratings
Decline</B>&#8221; means the occurrence of a decrease in the rating of the Notes by one or more gradations (including gradations within the rating categories, as well as between categories) by each of the Rating Agencies, within 60&nbsp;days of the
earliest of (a)&nbsp;a Change of Control, (b)&nbsp;the date of public notice of the occurrence of a Change of Control or (c)&nbsp;public notice of the intention of the Corporation to effect a Change of Control (which
<FONT STYLE="white-space:nowrap">60-day</FONT> period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by a Rating Agency); <I>provided</I>, however, that notwithstanding the
foregoing, a Ratings Decline shall be deemed not to have occurred if any of the Rating Agencies rates the Notes with an Investment Grade Rating that is not subject to review for possible downgrade on such 60<SUP
STYLE="font-size:75%; vertical-align:top">th</SUP>&nbsp;day. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Trustee shall not be charged with knowledge of, or be responsible for
the monitoring of, the ratings of the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Change of Control</B>&#8221; means the occurrence of any of the following: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger,
amalgamation, arrangement or consolidation), in one or more series of related transactions, of all </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-30 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="14%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
or substantially all of the Corporation&#8217;s assets and the assets of its subsidiaries, taken as a whole, to any person, other than to the Corporation or one of its subsidiaries;
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the consummation of any transaction (including, without limitation, any merger or consolidation) the result of
which is that any person (other than a subsidiary of the Corporation) becomes the &#8220;beneficial owner&#8221; (as defined in Rules <FONT STYLE="white-space:nowrap">13d-3</FONT> and <FONT STYLE="white-space:nowrap">13d-5</FONT> under the
U.S.&nbsp;Exchange Act), directly or indirectly, of more than 50% of the Corporation&#8217;s outstanding Voting Shares or other Voting Shares into which the Corporation&#8217;s Voting Shares are reclassified, consolidated, exchanged or changed,
measured by voting power rather than number of shares; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Corporation consolidates with, or merges or amalgamates with or into, or enters into an arrangement with,
any person, or any person consolidates with, or merges or amalgamates with or into, the Corporation, in any such event pursuant to a transaction in which any of the Corporation&#8217;s outstanding Voting Shares or the Voting Shares of such other
person are converted into or exchanged for cash, securities or other property, other than any such transaction where the Corporation&#8217;s Voting Shares outstanding immediately prior to such transaction constitute, or are converted into or
exchanged for, a majority of the Voting Shares of the surviving person or any direct or indirect parent company of the surviving person immediately after giving effect to such transaction; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the adoption of a plan relating to the liquidation or dissolution of the Corporation. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, (1)&nbsp;a transaction will not be deemed to involve a Change of Control under clause (b)&nbsp;above if
(i)&nbsp;we become a direct or indirect <FONT STYLE="white-space:nowrap">wholly-owned</FONT> subsidiary of a holding company and (ii)&nbsp;(A)&nbsp;the direct or indirect holders of the Voting Shares of such holding company immediately following
that transaction are substantially the same as the holders of the Corporation&#8217;s Voting Shares immediately prior to that transaction or (B)&nbsp;immediately following that transaction no person (other than a holding company satisfying the
requirements of this sentence) is the beneficial owner, directly or indirectly, of more than 50% of the Voting Shares of such holding company; and (2)&nbsp;the term &#8220;Change of Control&#8221; shall not include a merger, amalgamation or
consolidation of the Corporation with, or the sale, lease, transfer, conveyance or other disposition of all or substantially all of the assets of the Corporation and its subsidiaries taken as a whole to, an affiliate of the Corporation that is
incorporated or organized solely for the purpose of reincorporating or reorganizing the Corporation in another jurisdiction, which is not otherwise prohibited by the terms of the Indenture. The term &#8220;person&#8221;, as used in this definition,
has the meaning given thereto in Section&nbsp;13(d)(3) of the U.S.&nbsp;Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Change of Control Triggering
Event</B>&#8221; means the occurrence of both a Change of Control and so long as the Notes are rated, a related Ratings Decline. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Investment Grade Rating</B>&#8221; means a rating equal to or higher than Baa3<B> </B>(or the equivalent) by Moody&#8217;s and <FONT
STYLE="white-space:nowrap">BBB-</FONT> (or the equivalent) by S&amp;P, or, in each case, if such Rating Agency ceases to make a rating of the Notes publicly available, the equivalent investment grade credit rating by the replacement agency selected
by the Corporation in accordance with the procedures described below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Rating Agencies</B>&#8221; means Moody&#8217;s and
S&amp;P; and if either ceases to make a rating of the Notes publicly available, a &#8220;nationally recognized statistical rating organization&#8221;, within the meaning of Section&nbsp;3(a)(62) under the U.S.&nbsp;Exchange Act, selected by the
Corporation (as certified by a resolution of the Corporation&#8217;s board of directors) as a replacement agency for Moody&#8217;s or S&amp;P, or each of them, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Voting Shares</B>&#8221; means, with respect to any specified person as of any date, the shares of such person that are at the time
entitled to vote generally in the election of the board of directors of such person. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-31 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tax Redemption </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Notes will be subject to redemption at any time, in whole but not in part, at the option of the Corporation, at a redemption price equal
to the principal amount thereof together with accrued and unpaid interest to the date fixed for redemption, upon the giving of a notice as described below in &#8220;<I>&#8211;</I><I></I><I>&nbsp;Selection and Notice</I>&#8221;, if (1)&nbsp;the
Corporation determines that (a)&nbsp;as a result of any change in or amendment to the laws (or any regulations or rulings promulgated thereunder) of Canada or of any political subdivision or taxing authority thereof or therein affecting taxation, or
any change in official position regarding application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction), which change or amendment is announced or becomes effective on or after the date
of this Prospectus Supplement, the Corporation has or will become obligated to pay, on the next succeeding date on which interest is due, additional amounts with respect to the Notes as described under &#8220;<I>Description of Debt
Securities</I><I></I><I>&nbsp;&#8211; Payment of Additional Amounts</I>&#8221; in the Prospectus; or (b)&nbsp;on or after the date of this Prospectus Supplement, any action has been taken by any taxing authority of, or any decision has been rendered
by a court of competent jurisdiction in, Canada or any political subdivision or taxing authority thereof or therein, including any of those actions specified in&nbsp;(a) above, whether or not such action was taken or decision was rendered with
respect to the Corporation, or any change, amendment, application or interpretation shall be officially proposed, which, in any such case, in the written opinion to the Corporation of legal counsel of recognized standing, will result in the
Corporation becoming obligated to pay, on the next succeeding date on which interest is due, additional amounts with respect to the Notes and (2)&nbsp;in any such case, the Corporation in its business judgment determines that such obligation cannot
be avoided by the use of reasonable measures available to the Corporation; provided, however, that (i)&nbsp;no such notice of redemption may be given earlier than 60&nbsp;days prior to the earliest date on which the Corporation would be obligated to
pay such additional amounts were a payment in respect of the Notes then due, and (ii)&nbsp;at the time such notice of redemption is given, such obligation to pay such additional amounts remains in effect; and provided, further, that any such notice
of redemption shall be given no later than 30&nbsp;days prior to such redemption. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In the event that the Corporation elects to redeem the
Notes pursuant to the provisions set forth in the preceding paragraph, the Corporation shall deliver to the Trustee a certificate, signed by an authorized officer, stating that the Corporation is entitled to redeem the Notes pursuant to their terms.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Prior to the publication or, where relevant, mailing of any notice of redemption of the Notes pursuant to the foregoing, the Corporation
will deliver the Trustee an opinion of counsel to the effect that there has been such change or amendment which would entitle the Corporation to redeem the Notes hereunder. In addition, before the Corporation publishes or mails notice of redemption
of the Notes as described above, it will deliver to the Trustee a certificate, signed by an authorized officer, stating that the Corporation cannot avoid its obligation to pay additional amounts by taking reasonable measures available to it and all
other conditions for such redemption have been met. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Trustee shall be entitled to rely on such officer&#8217;s certificate and opinion
of counsel as sufficient evidence of the existence and satisfaction of the conditions precedent as described above, in which event it will be conclusive and binding on the holders of the Notes. The Trustee shall not be responsible for the
determination of any redemption price. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Selection and Notice </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Notice of any redemption will be mailed by first class mail (or sent electronically if DTC is the recipient) at least 10&nbsp;days but not
more than 60&nbsp;days before the redemption date to each holder of Notes to be redeemed at its registered address. No Notes of US$2,000 or less can be redeemed in part. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Notes called for redemption will become due on the date fixed for redemption, subject to the Corporation&#8217;s right to delay or rescind an
optional redemption date as provided below. Unless the Corporation </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-32 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption. If fewer than all of the Notes
of the applicable series are to be redeemed, the particular Notes or portions thereof to be redeemed will be selected, not more than 60&nbsp;days prior to the redemption date, from the outstanding Notes of such series not previously called
(a)&nbsp;if such Notes are held in global form, in accordance with the procedures of DTC or (b)&nbsp;if such Notes are held in certificated form, on a pro rata basis. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Notice of any optional redemption of the Notes may, at the Corporation&#8217;s discretion, be subject to one or more conditions precedent,
including, but not limited to, (i)&nbsp;the completion of one or more Equity Offerings or other securities offerings or other financings or the completion of any transaction (or series of related transactions) that constitutes a Change of Control;
and (ii)&nbsp;any other instructions, as determined by the Corporation, that a holder of Notes must follow. If an optional redemption of the Notes is subject to satisfaction of one or more conditions precedent, such notice may state that, at the
Corporation&#8217;s discretion, the redemption date may be delayed on one or more occasions either to a date specified in a subsequent notice to holders of the Notes or until such time (which date or time may be more than 60&nbsp;days after the date
the notice of redemption was mailed or otherwise sent) as any or all such conditions shall be satisfied or waived, and that such redemption will not occur and such notice will be rescinded if any or all such conditions shall not have been satisfied
as and when required (as determined by the Corporation in its sole discretion taking into account any election by the Corporation to delay such redemption date), unless the Corporation has waived any such conditions that are not satisfied, or at any
time if in the good faith judgment of the Corporation any or all of such conditions will not be satisfied. In addition, such notice will state that no representation is made as to the correctness or accuracy of the CUSIP, ISIN or similar number, if
any, listed in such notice or printed on the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">If any Note is to be redeemed in part only, the notice of redemption that relates to
that Note will state the portion of the principal amount of that Note that is to be redeemed. A new Note in principal amount equal to the unredeemed portion of the original Note will be issued in the name of the holder of Notes upon cancellation of
the original Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Payment of Additional Amounts </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">TransAlta will, subject to the exceptions and limitations set forth below, pay to any holder of Notes who is a
<FONT STYLE="white-space:nowrap">non-resident</FONT> of Canada under the <I>Income Tax Act </I>(Canada) (the &#8220;<B>Tax Act</B>&#8221;) such additional amounts as may be necessary so that the amount received by such holder on any payment made
under or with respect to such Notes, after deduction or withholding by TransAlta or any of its paying agents for or on account of any present or future tax, duty, levy, assessment or other governmental charge (including penalties, interest and other
liabilities related thereto) imposed or levied by or on behalf of the government of Canada or any province or territory thereof or by any authority or agency therein or thereof having power to tax (collectively, &#8220;<B>Canadian Taxes</B>&#8221;)
upon or as a result of such payment, will not be less than the amount that the holder would have received if such Canadian Taxes had not been withheld or deducted. However, TransAlta will not be required to make any payment of additional amounts:
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">to any person in respect of whom such Canadian Taxes are required to be withheld or deducted as a result of
such person not dealing at arm&#8217;s length with TransAlta (within the meaning of the Tax Act); </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">to any person by reason of such person being connected with Canada (otherwise than merely by holding or
ownership of any Notes or receiving any payments or exercising any rights thereunder), including without limitation a <FONT STYLE="white-space:nowrap">non-resident</FONT> insurer who carries on an insurance business in Canada and in a country other
than Canada; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">for or on account of any Canadian Taxes which would not have been so imposed but for: (i)&nbsp;the presentation
by the holder of such Notes for payment on a date more than 30 days after the date </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-33 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="14%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later; or (ii)&nbsp;the holder&#8217;s failure to comply with any
certification, identification, information, documentation or other reporting requirements if compliance is required by law, regulation, administrative practice or an applicable treaty as a precondition to exemption from or a reduction in the rate of
deduction or withholding of any such taxes, assessment or charge (provided that TransAlta advises the trustee and the holders of such Notes then outstanding of any change in such requirements); </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">for or on account of any estate, inheritance, gift, sales, transfer, personal property tax or any similar tax,
assessment or other governmental charge; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">for or on account of any Canadian Taxes required to be withheld by any paying agent from any payment to a
person on the Notes if such payment can be made to such person without such withholding by at least one other paying agent the identity of which is provided to such person; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">for or on account of any Canadian Taxes which are payable otherwise than by withholding from a payment on the
Notes; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">to any person in respect of whom such Canadian Taxes are required to be withheld or deducted as a result of
such person being a &#8220;specified <FONT STYLE="white-space:nowrap">non-resident</FONT> shareholder&#8221; of the Corporation (within the meaning of subsection 18(5) of the Tax Act) at the time of the payment or such person not dealing at
arm&#8217;s length for the purposes of the Tax Act with a &#8220;specified shareholder&#8221; (within the meaning of subsection 18(5) of the Tax Act) of the Corporation at the time of payment; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(h)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">to any person in respect of whom such Canadian Taxes (as defined in the Prospectus) are required to be withheld
or deducted as a result of the Corporation being a &#8220;specified entity&#8221; (as defined in subsection 18.4(1) of the Tax Act) in respect of such person; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any withholding or deduction imposed pursuant to or in connection with (i)&nbsp;Sections 1471 to 1474 of the
U.S. Internal Revenue Code of 1986, as amended, or any successor version thereof, or any similar legislation imposed by any other governmental authority, (ii)&nbsp;any agreements (including intergovernmental agreements) with respect thereto, or
(iii)&nbsp;any treaty, law, regulation, or official interpretation enacted by Canada or any other governmental authority implementing any of the foregoing; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(j)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">for any combination of any of the items described in paragraphs (a)&nbsp;to (i) above. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:7%; font-size:10pt; font-family:Times New Roman">nor will additional amounts be paid with respect to any payment on the Notes to a holder who is a fiduciary or partnership or other than the
sole beneficial owner of such payment to the extent such payment would be required by the laws of Canada (or any political subdivision thereof) to be included in the income for Canadian federal income tax purposes of a beneficiary or settlor with
respect to such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to payment of the additional amounts had such beneficiary, settlor, member or beneficial owner been the holder of the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporation will furnish to the Trustee (for, upon request, forwarding to holders) of Notes, within 30 days after the date the payment of
any Canadian Taxes is due pursuant to applicable law, certified copies of tax receipts or other documents evidencing such payment by the Corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Wherever this Prospectus Supplement or in the Indenture there is mentioned, in any context, the payment of principal (and premium, if any),
redemption price, interest or any other amount payable under or with respect to the Notes, such mention shall be deemed to include mention of the payment of additional amounts to the extent that, in such context, additional amounts are, were or
would be payable in respect thereof (Section&nbsp;10.5). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-34 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">For the purposes of Section&nbsp;10.5 of the Indenture, a &#8220;Holder&#8221; of a Note
shall include a beneficial owner thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The foregoing is subject to certain further limitations, as described under the heading
&#8220;<I>Certain Income Tax Considerations</I><I></I><I>&nbsp;&#8211; Certain U.S. Federal Income Tax Considerations</I><I></I><I>&nbsp;&#8211; FATCA</I>&#8221; in this Prospectus Supplement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Events of Default </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following events
are defined in the Indenture as &#8220;Events of Default&#8221; with respect to the Notes: (a)&nbsp;the failure of the Corporation to pay when due the principal of or premium (if any) on the Notes; (b)&nbsp;the failure of the Corporation, continuing
for 30&nbsp;days, to pay any interest due on the Notes; (c)&nbsp;the breach or violation of any covenant or condition (other than as referred to in&nbsp;(a) or (b)&nbsp;above), which continues for a period of 60&nbsp;days after notice from the
Trustee or from holders of at least 25% in principal amount of all outstanding Notes of any series affected thereby; (d)&nbsp;the failure of the Corporation or any Subsidiary to pay when due (after giving effect to any applicable grace periods) any
amount owing in respect of any Indebtedness other than <FONT STYLE="white-space:nowrap">Non-Recourse</FONT> Debt, or the Corporation or any Subsidiary otherwise defaults in the performance or observance of any other covenant, term, agreement or
condition in connection with such Indebtedness, and if such Indebtedness has not matured it shall have been accelerated prior to the date on which the same would otherwise have become due and payable, provided that the aggregate principal amount of
such Indebtedness is in excess of the greater of US$75&nbsp;million and 3% of Consolidated Shareholders&#8217; Equity (provided that if such default is waived by the persons entitled to do so, then the Event of Default in this clause&nbsp;(d) will
be deemed to be waived without further action on the part of the Trustee or the holders of the Notes); (e)&nbsp;the entry of certain judgments or decrees against the Corporation or any Material Subsidiary for the payment of money in excess of the
greater of US$75&nbsp;million and 3% of Consolidated Shareholders&#8217; Equity, in the aggregate, if the Corporation or any such Material Subsidiary, as the case may be, fails to pay such decree or judgment within 60&nbsp;days or file an appeal
thereof within 60&nbsp;days or, if the Corporation or such Material Subsidiary, as the case may be does file an appeal, that judgment or decree continues undischarged or unstayed as provided in the Indenture; or (f)&nbsp;certain events of
bankruptcy, insolvency or reorganization involving the Corporation or a Material Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">If an Event of Default occurs and is
continuing with respect to the Notes, then the Trustee or the holders of at least 25% in aggregate principal amount of the outstanding Notes may, declare the entire principal amount of all Notes and all interest thereon to be immediately due and
payable. However, at any time after a declaration of acceleration with respect to the Notes has been made, but before a judgment or decree for payment of the money due has been obtained, the holders of a majority in principal amount of the
outstanding Notes, by written notice to the Corporation and the Trustee, may under certain circumstances (which include payment or deposit with the Trustee of a sum sufficient to pay all unpaid principal and premium, if any, of, and all overdue
interest, if any, on, those outstanding Notes and sums paid or advanced by the Trustee under the Indenture and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel), rescind and annul such
declaration and its consequences (Section 5.2). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Indenture provides that, subject to the duty of the Trustee during default to act
with the required standard of care, the Trustee shall be under no obligation to exercise any of its rights and powers under the Indenture at the request or direction of any of the holders, unless such holders shall have offered to the Trustee
reasonable indemnity (Section 6.2). Subject to such provisions for indemnification of the Trustee and certain other limitations set forth in the Indenture, the holders of a majority in principal amount of the outstanding debt securities of all
series issued under the Indenture and affected by an Event of Default shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the
Trustee, with respect to the outstanding debt securities of all series issued under the Indenture and affected by such Event of Default (Section 5.12). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">No holder of Notes will have any right to institute any proceeding with respect to the Indenture, or for the appointment of a receiver or a
trustee, or for any other remedy thereunder, unless (a)&nbsp;such holder has previously </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-35 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
given to the Trustee written notice of a continuing Event of Default with respect to the Notes, (b)&nbsp;the holders of at least 25% in aggregate principal amount of the outstanding Notes have
made written request, and such holder or holders have offered reasonable indemnity, to the Trustee to institute such proceeding as Trustee, and (c)&nbsp;the Trustee has failed to institute such proceeding, and has not received from the holders of a
majority in aggregate principal amount of the outstanding Notes a direction inconsistent with such request, within 60 days after such notice, request and offer (Section 5.7). However, such limitations do not apply to a suit instituted by the holder
of Notes for the enforcement of payment of the principal of or any premium or interest on the Notes on or after the applicable due date therefor (Section 5.8). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporation will be required to furnish to the Trustee annually a statement by certain of its officers as to whether or not the
Corporation, to the best of their knowledge, is in compliance with all conditions and covenants of the Indenture and, if not, specifying all such known defaults (Section 10.4). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Mergers, Consolidations, Amalgamations and Sale of Assets </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporation will not enter into any transaction whereby all or substantially all of its undertaking, property and assets would become the
property of any other person (the&nbsp;&#8220;<B>Successor</B>&#8221;), whether by reorganization, consolidation, amalgamation, arrangement, merger, transfer, sale, or otherwise, unless: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Successor expressly assumes all of the covenants and obligations of the Corporation under the Indenture and
the transaction otherwise meets all of the requirements of the Indenture; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the entity formed by or continuing from such consolidation or amalgamation or into which the Corporation is
merged or with which the Corporation enters into such arrangement or the person which acquires or leases all or substantially all of the Corporation&#8217;s properties and assets is organized and existing under the laws of the United States, any
state thereof or the District of Columbia or the laws of Canada or any province thereof; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">immediately before and after giving effect to such transaction, no Event of Default, and no event which, after
notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">no condition or event will exist as to the Corporation (at the time of such transaction) or the Successor
(immediately after such transaction) and after giving full effect thereto or immediately after the Successor will become liable to pay the principal monies, premium, if any, interest and other monies due or which may become due hereunder, which
constitutes or would constitute an Event of Default under the Indenture. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In addition to the above conditions, such
transaction will substantially preserve and not impair any of the rights and powers of the Trustee or of the holders of Notes (Section&nbsp;8.1). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">If, as a result of any consolidation, amalgamation, arrangement, merger or upon any sale, conveyance, transfer or lease of all or
substantially all of the properties and assets of the Corporation to any other person, any of the properties or assets of the Corporation or its Subsidiaries become subject to a Security Interest, then, unless such Security Interest could be created
pursuant to the Indenture provisions described under &#8220;<I>Negative Pledge</I>&#8221; below without equally and rateably securing the Notes, the Corporation, simultaneously with or prior to such transaction, will cause the Notes to be secured
equally and rateably with or prior to the Indebtedness secured by such Security Interest (Section 8.4). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-36 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Covenants </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Indenture contains covenants substantially to the following effect: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Restriction on Sales and Leasebacks </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporation will not, and will not permit any Subsidiary to, enter into any sale and leaseback transaction unless the Corporation and its
Subsidiaries comply with this restrictive covenant. A &#8220;sale and leaseback transaction&#8221; is an arrangement between the Corporation or any Subsidiary and a bank, insurance company or other lender or investor where the Corporation or any
Subsidiary lease real or personal property which was or will be sold by the Corporation or any Subsidiary to that lender or investor. The Corporation can comply with this restrictive covenant if it meets either of the following conditions: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the sale and leaseback transaction is entered into prior to, concurrently with or within 270 days after the
acquisition, the completion of construction (including any improvements on an existing property) or the commencement of commercial operations of the property; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the Corporation or its Subsidiaries could otherwise grant a Security Interest on the property as permitted by
the provisions of the covenant (described under the heading &#8220;<I>&#8211; Negative Pledge</I>&#8221; in this Prospectus Supplement) (Section&nbsp;10.10). </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Negative Pledge </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">So long as any
Notes remain outstanding the Corporation and its Subsidiaries will not create, assume or otherwise have outstanding any Security Interest, except for Permitted Encumbrances, on or over its or their respective assets (present or future) in respect of
any Indebtedness of any person unless, in the opinion of legal counsel to the Corporation or the Trustee, the obligations of the Corporation in respect of all Notes then outstanding shall be secured equally and rateably therewith
(Section&nbsp;10.12). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Provision of Financial Information </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">TransAlta will file with the Trustee, within 15 days after it files them with the SEC, copies of its annual report and of the information,
documents and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which TransAlta is required to file with the SEC pursuant to Section&nbsp;13 or 15(d) of the U.S. Exchange Act.
Notwithstanding that TransAlta may not be required to remain subject to the reporting requirements of Section&nbsp;13 or 15(d) of the U.S. Exchange Act or otherwise report on an annual and quarterly basis on forms provided for such annual and
quarterly reporting pursuant to rules and regulations promulgated by the SEC, TransAlta will continue to provide the Trustee (a)&nbsp;within 140 days after the end of each fiscal year, the information required to be contained in annual reports on
Form <FONT STYLE="white-space:nowrap">20-F</FONT> or Form <FONT STYLE="white-space:nowrap">40-F</FONT> as applicable (or any successor form); and (b)&nbsp;within 60 days after the end of each of the first three fiscal quarters of each fiscal year,
the information required to be contained in reports on Form <FONT STYLE="white-space:nowrap">6-K</FONT> (or any successor form), which, regardless of applicable requirements shall, at a minimum, consist of such information required to be provided in
quarterly reports under the laws of Canada or any province thereof to security holders of a corporation with securities listed on the Toronto Stock Exchange, whether or not TransAlta has any of its securities listed on such exchange. Such
information will be prepared in accordance with Canadian disclosure requirements and Generally Accepted Accounting Principles (Section 7.5). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Modification and Waiver </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Modifications and amendments of the Indenture may be made by the Corporation and the Trustee with the consent of the holders of a majority in
principal amount of the outstanding debt securities of each series issued under the Indenture affected by such modification or amendment; provided, however, that no such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-37 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
modification or amendment may, without the consent of the holder of each outstanding debt security of such affected series: (1)&nbsp;change the stated maturity of the principal of, or any
instalment of interest, if any, on any debt security; (2)&nbsp;reduce the principal amount of, or the premium, if any, or the rate of interest, if any, on any debt security; (3)&nbsp;change the place of payment; (4)&nbsp;change the currency or
currency unit of payment of principal of (or premium, if any) or interest, if any, on any debt security; (5)&nbsp;impair the right to institute suit for the enforcement of any payment on or with respect to any debt security; (6)&nbsp;adversely
affect any right to convert or exchange any debt security; (7)&nbsp;reduce the percentage of principal amount of outstanding debt securities of such series, the consent of the holders of which is required for modification or amendment of the
Indenture or for waiver of compliance with certain provisions of the Indenture or for waiver of certain defaults; (8)&nbsp;reduce the voting or quorum requirements relating to meetings of holders of debt securities; or (9)&nbsp;modify any provisions
of the Indenture relating to the modification and amendment of the Indenture or the waiver of past defaults or covenants except as otherwise specified in the Indenture (Section 9.2). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The holders of a majority in principal amount of the outstanding Notes may on behalf of the holders of all Notes waive, insofar as the Notes
are concerned, compliance by the Corporation with certain restrictive provisions of the Indenture (Section 10.13). The holders of a majority in principal amount of outstanding Notes may waive any past default under the Indenture with respect to the
Notes, except a default in the payment of the principal of (or premium, if any) and interest, if any, on the Notes or in respect of a provision which under the Indenture cannot be modified or amended without the consent of the holder of each
outstanding Note (Section&nbsp;5.13). The Indenture or the Notes may be amended or supplemented, without the consent of any holder of Notes, to cure any ambiguity or inconsistency or to make any change that does not have an adverse effect on the
rights of any holder of Notes (Section 9.1). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Defeasance </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Indenture provides that, at its option, TransAlta will be discharged from any and all obligations in respect of the Notes upon irrevocable
deposit with the Trustee, in trust, of money, government securities or a combination thereof which will provide money in an amount sufficient in the opinion of a nationally recognized firm of independent chartered accountants to pay the principal of
and premium, if any, and each instalment of interest, if any, on the outstanding Notes (&#8220;<B>Defeasance</B>&#8221;) (except with respect to the authentication, transfer, exchange or replacement of Notes or the maintenance of a place of payment
and certain other obligations set forth in the Indenture). Such trust may only be established if among other things (1)&nbsp;TransAlta has delivered to the Trustee an opinion of counsel in the United States stating that (a)&nbsp;TransAlta has
received from, or there has been published by, the Internal Revenue Service a ruling, or (b)&nbsp;since the date of execution of the Indenture, there has been a change in the applicable United States federal income tax law, in either case to the
effect that the holders of such outstanding Notes will not recognize income, gain or loss for United States federal income tax purposes as a result of such Defeasance and will be subject to United States federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such Defeasance had not occurred; (2)&nbsp;TransAlta has delivered to the Trustee an opinion of counsel in Canada or a ruling from the Canada Revenue Agency
(&#8220;<B>CRA</B>&#8221;) to the effect that the holders of such outstanding Notes will not recognize income, gain or loss for Canadian federal, provincial or territorial income or other tax purposes as a result of such Defeasance and will be
subject to Canadian federal or provincial income and other tax on the same amounts, in the same manner and at the same times as would have been the case had such Defeasance not occurred (and for the purposes of such opinion, such Canadian counsel
shall assume that holders of the outstanding Notes include holders who are not resident in Canada); (3) no Event of Default or event that, with the passing of time or the giving of notice, or both, shall constitute an Event of Default shall have
occurred and be continuing on the date of such deposit; (4)&nbsp;TransAlta is not an &#8220;insolvent person&#8221; within the meaning of the <I>Bankruptcy and Insolvency Act </I>(Canada); (5) TransAlta has delivered to the Trustee an opinion of
counsel to the effect that such deposit shall not cause the Trustee or the trust so created to be subject to the United States <I>Investment Company Act of 1940</I>, as amended; and (6)&nbsp;TransAlta has delivered to the Trustee an officer&#8217;s
certificate and opinion of counsel stating that certain conditions precedent are satisfied. TransAlta may exercise its Defeasance option notwithstanding its prior exercise of its Covenant </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-38 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Defeasance option described in the following paragraph if TransAlta meets the conditions described in the preceding sentence at the time TransAlta exercises the Defeasance option (Sections 14.1,
14.2 and 14.4). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Indenture provides that, at its option, unless and until TransAlta has exercised its Defeasance option described in
the preceding paragraph, TransAlta may omit to comply with covenants, including the covenants described above under the heading &#8220;<I>Covenants</I>&#8221;, and such omission shall not be deemed to be an Event of Default under the Indenture and
the outstanding Notes upon irrevocable deposit with the Trustee, in trust, of money and/or government securities which will provide money in an amount sufficient in the opinion of a nationally recognized firm of independent chartered accountants to
pay the principal of and premium, if any, and each instalment of interest, if any, on the outstanding Notes (&#8220;<B>Covenant Defeasance</B>&#8221;). If TransAlta exercises its Covenant Defeasance option, the obligations under the Indenture other
than with respect to such covenants and the Events of Default other than with respect to such covenants shall remain in full force and effect. Such trust may only be established if, among other things, (1)&nbsp;TransAlta has delivered to the Trustee
an opinion of counsel in the United States to the effect that the holders of the outstanding Notes will not recognize income, gain or loss for United States federal income tax purposes as a result of such Covenant Defeasance and will be subject to
United States federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; (2)&nbsp;TransAlta has delivered to the Trustee an opinion of counsel in Canada
or a ruling from the CRA to the effect that the holders of such outstanding Notes will not recognize income, gain or loss for Canadian federal, provincial or territorial income or other tax purposes as a result of such Covenant Defeasance and will
be subject to Canadian federal or provincial income and other tax on the same amounts, in the same manner and at the same times as would have been the case had such Covenant Defeasance not occurred (and for the purposes of such opinion, such
Canadian counsel shall assume that holders of the outstanding Notes include holders who are not resident in Canada); (3) no Event of Default or event that, with the passing of time or the giving of notice, or both, shall constitute an Event of
Default shall have occurred and be continuing on the date of such deposit; (4)&nbsp;TransAlta is not an &#8220;insolvent person&#8221; within the meaning of the <I>Bankruptcy and Insolvency Act </I>(Canada); (5) TransAlta has delivered to the
Trustee an opinion of counsel to the effect that such deposit shall not cause the Trustee or the trust so created to be subject to the United States <I>Investment Company Act of 1940</I>, as amended; and (6)&nbsp;TransAlta has delivered to the
Trustee an officer&#8217;s certificate and opinion of counsel stating that certain conditions precedent are satisfied (Sections 14.3 and 14.4). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Governing Law </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Notes and the
Indenture will be governed by and construed in accordance with the laws of the State of New York (Section 1.11). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Definitions </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Indenture contains, among others, definitions substantially to the following effect: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Attributable Amount</B>&#8221; means with respect to any sale and leaseback transaction (as defined herein under the heading
&#8220;<I>Covenants</I><I></I><I>&nbsp;&#8211; Restrictions on Sales and Leasebacks</I>&#8221; below), as at the time of determination, the present value (discounted at the rate of interest set forth or implicit in the terms of such lease,
compounded annually) of the total obligations of the lessee for rental payments during the remaining term of the lease included in such sale and leaseback transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Consolidated Net Tangible Assets</B>&#8221; means all consolidated assets of the Corporation as shown on the most recent audited
consolidated balance sheet of the Corporation, less the aggregate of the following amounts reflected upon such balance sheet: (i)&nbsp;all goodwill, deferred assets, trademarks, copyrights and other similar intangible assets; (ii)&nbsp;to the extent
not already deducted in computing such assets and without duplication, depreciation, depletion, amortization, reserves and any other account which reflects a decrease in the value of an asset or a periodic allocation of the cost of an asset;
provided that no such deduction shall be made to the extent </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-39 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
such account reflects a decrease in the value or periodic allocation of the cost of any assets referred to in&nbsp;(i) above; (iii)&nbsp;minority interests; (iv)&nbsp;current liabilities; and
(v)&nbsp;assets created, developed, constructed or acquired with or in respect of which <FONT STYLE="white-space:nowrap">Non-Recourse</FONT> Debt has been incurred, and any and all receivables, inventory, equipment, chattel paper, intangibles and
other rights or collateral arising from or connected with those assets (including the shares or other ownership interests of a single purpose entity which holds only such assets and other rights and collateral arising from or connected therewith)
and to which recourse of the lender of such <FONT STYLE="white-space:nowrap">Non-Recourse</FONT> Debt is limited to the extent of the outstanding <FONT STYLE="white-space:nowrap">Non-Recourse</FONT> Debt financing such assets. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Consolidated Shareholders&#8217; Equity</B>&#8221; means, without duplication, the aggregate amount of shareholders&#8217; equity
(including, without limitation, common share capital, preferred share capital, contributed surplus and retained earnings) of the Corporation as shown on the most recent audited consolidated balance sheet of the Corporation, adjusted by the amount by
which common share capital, preferred share capital and contributed surplus has been increased or decreased (as the case may be) from the date of such balance sheet to the relevant date of determination, in accordance with Generally Accepted
Accounting Principles, together with the aggregate principal amount of obligations of the Corporation in respect of Preferred Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Financial Instrument Obligations</B>&#8221; means obligations arising under: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any interest swap agreement, forward rate agreement, floor, cap or collar agreement, futures or options,
insurance or other similar agreement or arrangement, or any combination thereof, entered into or guaranteed by the Corporation where the subject matter of the same is interest rates or the price, value, or amount payable thereunder is dependent or
based upon the interest rates or fluctuations in interest rates in effect from time to time (but, for certainty, shall exclude conventional floating rate debt); </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any currency swap agreement, cross currency agreement, forward agreement, floor, cap or collar agreement,
futures or options, insurance or other similar agreement or arrangement, or any combination thereof, entered into or guaranteed by the Corporation where the subject matter of the same is currency exchange rates or the price, value or amount payable
thereunder is dependent or based upon currency exchange rates or fluctuations in currency exchange rates in effect from time to time; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any agreement for the making or taking of any commodity (including natural gas, oil or electricity), any
commodity swap agreement, floor, cap or collar agreement or commodity future or option or other similar agreements or arrangements, or any combination thereof, entered into or guaranteed by the Corporation where the subject matter of the same is any
commodity or the price, value or amount payable thereunder is dependent or based upon the price of any commodity or fluctuations in the price of any commodity; </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">to the extent of the net amount due or accruing due by the Corporation thereunder (determined by marking to market the same in accordance with their terms).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Generally Accepted Accounting Principles</B>&#8221; means generally accepted accounting principles which are in effect from
time to time in Canada. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Indebtedness</B>&#8221; means all items of indebtedness in respect of any amounts borrowed (including
obligations with respect to bankers&#8217; acceptances and contingent reimbursement obligations relating to letters of credit and other financial instruments) and all Purchase Money Obligations which, in accordance with Generally Accepted Accounting
Principles, would be recorded in the financial statements as at the date as of which Indebtedness is to be determined, and in any event including, without duplication: (i)&nbsp;obligations secured by any Security Interest existing on property owned
subject to such Security Interest, whether or not the obligations secured thereby shall have been assumed; and (ii)&nbsp;guarantees, indemnities, endorsements (other than </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-40 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
endorsements for collection in the ordinary course of business) or other contingent liabilities in respect of obligations of another person for indebtedness of that other person in respect of any
amounts borrowed by them. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Material Subsidiary</B>&#8221; means, at any time, a Subsidiary (i)&nbsp;the total assets of which
represent more than 10% of the total assets of the Corporation determined on a consolidated basis as shown in the most recent audited consolidated balance sheet of the Corporation; or (ii)&nbsp;the total revenues of which represent more than 10% of
the total revenues of the Corporation determined on a consolidated basis as shown in the consolidated income statement of the Corporation for the four most recent fiscal quarters of the Corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B><FONT STYLE="white-space:nowrap">Non-Recourse</FONT> Debt</B>&#8221; means any Indebtedness incurred to finance the creation,
development, construction or acquisition of assets and any increases in or extensions, renewals or refundings of any such Indebtedness, provided that the recourse of the lender thereof or any agent, trustee, receiver or other person acting on behalf
of the lender in respect of such Indebtedness in respect thereof is limited in all circumstances (other than in respect of false or misleading representations or warranties and customary indemnities provided with respect to such financings) to the
assets created, developed, constructed or acquired in respect of which such Indebtedness has been incurred and to any receivables, inventory, equipment, chattel paper, intangibles and other rights or collateral arising from or connected with the
assets so created, developed, constructed or acquired (including the shares or other ownership interests of a single purpose entity which holds only such assets and other rights and collateral arising from or connected therewith) and to which the
lender has recourse. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Permitted Encumbrance</B>&#8221; means any of the following: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any Security Interest existing as of the date of the first issuance by the Corporation of Securities issued
pursuant to the Indenture, or arising thereafter pursuant to contractual commitments entered into prior to such issuance; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any Security Interest created, incurred or assumed to secure any Purchase Money Obligation;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any Security Interest created, incurred or assumed to secure any
<FONT STYLE="white-space:nowrap">Non-Recourse</FONT> Debt; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any Security Interest in favor of any Wholly-Owned Subsidiary; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any Security Interest on property of a corporation or its Subsidiaries which Security Interest exists at the
time such corporation is merged into, or amalgamated or consolidated with the Corporation or such property is otherwise, directly or indirectly acquired by the Corporation other than a Security Interest incurred in contemplation of such merger,
amalgamation, consolidation or acquisition; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any Security Interest securing any Indebtedness to any bank or banks or other lending institution or
institutions incurred in the ordinary course of business and for the purpose of carrying on the same, repayable on demand or maturing within 12 months of the date when such Indebtedness is incurred or the date of any renewal or extension thereof;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any Security Interest on or against cash or marketable debt securities pledged to secure Financial Instrument
Obligations; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(h)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any Security Interest in respect of: </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">liens for taxes, duties and assessments not at the time overdue or any liens securing workmen&#8217;s
compensation assessments, unemployment insurance or other social security obligations; <I>provided however</I>, that if any such liens, duties or assessments are then overdue the Corporation or the applicable Subsidiary thereof shall be contesting
the same in good faith; </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-41 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any liens or rights of distress reserved in or exercisable under any lease for rent and for compliance with the
terms of such lease; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any obligations or duties, affecting the property of the Corporation or any Subsidiary thereof, to any
municipality or governmental, statutory or other public authority, with respect to any franchise, permit, licence or grant and any defects in title to structures or other facilities arising solely from the fact that such structures or facilities are
constructed or installed on lands held by the Corporation or any Subsidiary thereof, under franchises, permits, licences or other grants, from a municipality or other such authority, which obligations, duties and defects in the aggregate do not
materially impair the use of such property, structures or facilities for the purpose for which they are held by the Corporation or any Subsidiary thereof; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any deposits or liens in connection with contracts, bids, tenders or expropriation proceedings, surety or
appeal bonds, costs of litigation when required by law, public and statutory obligations, liens or claims incidental to current construction, builders&#8217;, mechanics&#8217;, labourers&#8217;, materialmen&#8217;s, warehousemen&#8217;s,
carriers&#8217; and other similar liens; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the right reserved to or vested in any municipality or governmental, statutory or other public authority by any
statutory provision or by the terms of any lease, license, franchise, grant or permit, that affects any land, to terminate any such lease, license, franchise, grant or permit or to require annual or other periodic payments as a condition to the
continuance thereof; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(vi)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any undetermined or inchoate liens and charges incidental to the current operations of the Corporation or any
Subsidiary thereof that have not at the time been filed against the Corporation; <I>provided however</I>, that if any such lien or charge shall have been filed, the Corporation or the applicable Subsidiary thereof shall be contesting the same in
good faith; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(vii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any Security Interest the validity of which is being contested at the time by the Corporation or the applicable
Subsidiary thereof in good faith or payment of which has been provided for by deposit with the Trustee or another trustee of debt securities issued by the Corporation or the applicable Subsidiary thereof of an amount in cash sufficient to pay the
same in full; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(viii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any easements, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">rights-of-way</FONT></FONT>
and servitudes (including, without in any way limiting the generality of the foregoing, easements, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">rights-of-way</FONT></FONT> and servitudes for railways, sewers, dykes, drains, gas
and water mains or electric light and power or telephone and telegraph conduits, poles, wires and cables) that, in the opinion of the Corporation, will not in the aggregate materially and adversely impair the use or value of the land concerned for
the purpose for which it is held by the Corporation or any Subsidiary thereof; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ix)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any security to a public utility or any municipality or governmental, statutory or other public authority when
required by such utility, municipality or other such authority in connection with the operations of the Corporation or any Subsidiary thereof; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(x)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any liens and privileges arising out of judgments or awards with respect to which the Corporation or the
applicable Subsidiary thereof shall be prosecuting an appeal or proceedings for review and with respect to which it shall have secured a stay of execution pending such appeal or proceedings for review; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(xi)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any other liens of a nature similar to the foregoing which do not in the opinion of the Corporation materially
impair the use of the property subject thereto or the operation of the business of the Corporation or the applicable Subsidiary thereof or the value of such property for the purpose of such business; </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-42 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any extension, renewal, alteration or replacement (or successive extensions, renewals, alterations or
replacements) in whole or in part, of any Security Interest referred to in the foregoing clauses (a)&nbsp;through (h) inclusive, provided the extension, renewal, alteration or replacement of such Security Interest is limited to all or any part of
the same property that secured the Security Interest extended, renewed, altered or replaced (plus improvements on such property) and the principal amount of the Indebtedness secured thereby is not increased; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(j)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any other Security Interest if the aggregate amount of Indebtedness secured pursuant to this clause (j)
(together with the Attributable Amount of any sale and leaseback transaction) does not exceed 20% of Consolidated Net Tangible Assets. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Preferred Securities</B>&#8221; means securities which on the date of issue thereof by a Person: (i)&nbsp;have a term to maturity of
more than 30&nbsp;years; (ii)&nbsp;rank subordinate to the unsecured and unsubordinated Indebtedness of such person outstanding on such date; (iii)&nbsp;entitle such person to defer the payment of interest thereon for more than four years without
thereby causing an event of default in respect of such securities to occur; and (iv)&nbsp;entitle such person to satisfy the obligation to make payments of deferred interest thereon from the proceeds of the issuance of its shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Purchase Money Obligation</B>&#8221; means any monetary obligation created or assumed as part of the purchase price of real or
tangible personal property, whether or not secured, any extensions, renewals, alterations or replacements of any such obligation, provided that the principal amount of such obligation outstanding on the date of such extension, renewal, alteration or
replacement is not increased and further provided that any security given in respect of such obligation shall not extend to any property other than the property acquired in connection with which such obligation was created or assumed and fixed
improvements, if any, erected or constructed thereon. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Security Interest</B>&#8221; means any mortgage, charge, pledge, lien,
encumbrance, assignment by way of security, title retention agreement or other security interest whatsoever, howsoever created or arising, whether absolute or contingent, fixed or floating, perfected or not, which secures payment or performance of
an obligation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Subsidiary</B>&#8221; means, in relation to a Person (a)&nbsp;any corporation of which at least a majority of
the outstanding shares having by the terms thereof ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether at the time shares of any other class or classes of such corporation might have
voting power by reason of the happening of any contingency, unless the contingency has occurred and then only for as long as it continues) is at the time directly, indirectly or beneficially owned or controlled by the person or one or more of its
Subsidiaries, or the person and one or more of its Subsidiaries; (b)&nbsp;any partnership of which the person or one or more of its Subsidiaries, or the person and one or more of its Subsidiaries: (i)&nbsp;directly, indirectly or beneficially own or
control more than 50% of the income, capital, beneficial or ownership interests (however designated) thereof; and (ii)&nbsp;is a general partner, in the case of a limited partnership, or is a partner that has authority to bind the partnership, in
all other cases; or (iii)&nbsp;any other person of which at least a majority of the income, capital, beneficial or ownership interests (however designated) are at the time directly, indirectly or beneficially owned or controlled by the first
mentioned person or one or more of its Subsidiaries, or the first mentioned person and one or more of its Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">&#8220;<B>Wholly-Owned Subsidiary</B>&#8221; means any Subsidiary that the Corporation directly or indirectly beneficially owns 100% of the
outstanding shares having by the terms thereof ordinary voting power to elect a majority of the board of directors of such Subsidiary or owns, directly or indirectly, 100% of the income, capital, beneficial or ownership interests (however
designated) thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-43 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Book-Entry System </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">DTC is a <FONT STYLE="white-space:nowrap">limited-purpose</FONT> trust company organized under the New York Banking Law, a &#8220;banking
organization&#8221; within the meaning of the New York Banking Law, a member of the Federal Reserve System, a &#8220;clearing corporation&#8221; within the meaning of the New York Uniform Commercial Code, and a &#8220;clearing agency&#8221;
registered pursuant to the provisions of Section&nbsp;17A of the U.S.&nbsp;Exchange Act. DTC holds and provides asset servicing for issues of U.S.&nbsp;and <FONT STYLE="white-space:nowrap">non-U.S.&nbsp;equity</FONT> issues, corporate and municipal
debt issues, and money market instruments that DTC&#8217;s participants (&#8220;<B>Direct Participants</B>&#8221;) deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities transactions
in deposited securities, through electronic computerized book-entry transfers and pledges between Direct Participants&#8217; accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both
U.S.&nbsp;and <FONT STYLE="white-space:nowrap">non-U.S.&nbsp;securities</FONT> brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a <FONT STYLE="white-space:nowrap">wholly-owned</FONT>
subsidiary of The Depository Trust&nbsp;&amp; Clearing Corporation (&#8220;<B>DTCC</B>&#8221;). DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing
agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S.&nbsp;and <FONT STYLE="white-space:nowrap">non-U.S.&nbsp;securities</FONT> brokers and dealers, banks, trust
companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly (&#8220;<B>Indirect Participants</B>&#8221;). The DTC Rules applicable to its Participants are on
file with the SEC. More information about DTC can be found at <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.dtcc.com</U></FONT><FONT STYLE="font-family:Times New Roman"> and </FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U>www.dtc.org</U></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">So long as DTC or a nominee thereof is the registered owner of the global security representing the Notes (the &#8220;<B>Global
Security</B>&#8221;), DTC or such nominee, as the case may be, will be considered the sole owner or holder of Notes represented thereby for all purposes under the Indenture. Except as provided below, owners of beneficial interests in Notes
represented by a Global Security (&#8220;<B>Beneficial Owners</B>&#8221;) will not be entitled to have such Notes registered in their names, will not receive or be entitled to receive physical delivery of such Notes in definitive form and will not
be considered the owners or holders thereof under the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Unless and until it is exchanged in whole or in part for Notes in
definitive form, no Global Security may be transferred except as a whole by DTC to a nominee of DTC or by a nominee of DTC to DTC or another nominee of DTC or by DTC or any such nominee to a successor of DTC or a nominee of such successor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Purchases of Notes under the DTC system must be made by or through Direct Participants, which will receive a credit for the Notes on
DTC&#8217;s records. The ownership interest of each Beneficial Owner is in turn to be recorded on the Direct and Indirect Participants&#8217; records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial
Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the
transaction. Transfers of ownership interests in the Notes are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing
their ownership interests in the Notes, except in the event that use of the book-entry system for the Notes is discontinued. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">To
facilitate subsequent transfers, all Notes deposited by Direct Participants with DTC are registered in the name of DTC&#8217;s partnership nominee, Cede&nbsp;&amp; Co., or such other name as may be requested by an authorized representative of DTC.
The deposit of Notes with DTC and their registration in the name of Cede&nbsp;&amp; Co. or such other DTC nominee do not affect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the Notes; DTC&#8217;s
records reflect only the identity of the Direct Participants to whose accounts such Notes are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings
on behalf of their customers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to
Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-44 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Beneficial Owners of Notes may wish to take certain steps to augment the
transmission to them of notices of significant events with respect to the Notes, such as redemptions, tenders, defaults, and proposed amendments to the Notes. For example, Beneficial Owners of Notes may wish to ascertain that the nominee holding the
Notes for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial Owners may wish to provide their names and addresses to the registrar and request that copies of notices be provided directly to
them. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Neither DTC nor Cede&nbsp;&amp; Co. (nor any other DTC nominee) will consent or vote with respect to Notes unless authorized by a
Direct Participant in accordance with DTC&#8217;s Money Market Instrument procedures. Under its usual procedures, DTC mails an &#8220;Omnibus Proxy&#8221; to the Corporation as soon as possible after the record date. The Omnibus Proxy assigns
Cede&nbsp;&amp; Co.&#8217;s consenting or voting rights to those Direct Participants to whose accounts Notes are credited on the record date (identified in a listing attached to the Omnibus Proxy). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Payments on the Notes will be made to Cede&nbsp;&amp; Co., or such other nominee as may be requested by an authorized representative of DTC.
DTC&#8217;s practice is to credit Direct Participants&#8217; accounts upon DTC&#8217;s receipt of funds and corresponding detail information from the Corporation or the Trustee, on payable date in accordance with their respective holdings shown on
DTC&#8217;s records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in &#8220;street
name&#8221;, and will be the responsibility of such Participant and not of DTC, the Trustee, or the Corporation, subject to any statutory or regulatory requirements as may be in effect from time to time. Any payment due to Cede&nbsp;&amp; Co. (or
such other nominee as may be requested by an authorized representative of DTC) is the Corporation&#8217;s responsibility or the responsibility of the Trustee, disbursement of such payments to Direct Participants shall be the responsibility of DTC,
and disbursement of such payments to the Beneficial Owners shall be the responsibility of Direct Participants and Indirect Participants. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">None of TransAlta, the Trustee or any paying agent for the Notes will have any responsibility or liability for any aspect of the records
relating to, or payments made on account of, beneficial ownership interests of the Notes or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">DTC may discontinue providing its services as depository with respect to the Notes at any time by giving reasonable notice to the Corporation
or the Trustee. Under such circumstances, in the event that a successor depository is not obtained, certificates for the Notes are required to be printed and delivered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Corporation may decide to discontinue use of the system of book-entry-only transfers through DTC (or a successor Notes depository). In
that event, certificates will be printed and delivered to DTC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The information in this section covering DTC and DTC&#8217;s system has
been obtained from sources that the Corporation believes to be reliable, but the Corporation takes no responsibility for the accuracy thereof. The information in this section is subject to any changes to the arrangements between the Corporation and
DTC and any changes to these procedures that may be instituted unilaterally by DTC. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-45 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_12"></A>EARNINGS COVERAGE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following earnings coverage ratios have been prepared in accordance with Canadian securities law requirements and are included in this
Prospectus Supplement in accordance with Canadian disclosure requirements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following table sets forth our earnings coverage ratios
calculated for the <FONT STYLE="white-space:nowrap">twelve-month</FONT> period ended December&nbsp;31, 2024 and the <FONT STYLE="white-space:nowrap">twelve-month</FONT> period ended September&nbsp;30, 2025 after giving <I>pro forma</I> effect to the
issuance of the Notes, as described in this Prospectus Supplement, and the intended use of proceeds therefrom. Adjustments for normal course issuances and repayments of long-term debt subsequent to December&nbsp;31, 2024 would not materially affect
the ratios set forth below and have not been made. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="22%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="22%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Twelve-month period ended</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&#8195;&#8195;December&nbsp;31,&nbsp;2024&#8195;&#8195;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&#8195;&#8195;September&nbsp;30,&nbsp;2025&#8195;&#8195;</B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom">Earnings coverage on long-term debt<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">1.88x<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">0.64x<SUP STYLE="font-size:75%; vertical-align:top">(3)(4)</SUP></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Earnings coverage on long-term debt on a net earnings basis is equal to net earnings before interest expense and
income taxes, divided by interest expense including capitalized interest and interest income. For purposes of calculating the earnings coverage ratios set forth herein, long-term debt includes the current portion of long-term debt and does not
include any amounts with respect to Notes that may be issued under this Prospectus Supplement. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Our interest expense including capitalized interest and interest income for the
<FONT STYLE="white-space:nowrap">12-month</FONT> period ended December&nbsp;31, 2024, after giving effect to the adjustments, amounted to approximately $337&nbsp;million. Our net earnings before interest expense and income taxes amounted to
approximately $633 million for the <FONT STYLE="white-space:nowrap">12-month</FONT> period ended December&nbsp;31, 2024, which is 1.88 times our interest requirements for that period. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">Our interest expense including capitalized interest and interest income for the
<FONT STYLE="white-space:nowrap">12-month</FONT> period ended September&nbsp;30, 2025, after giving effect to the adjustments, amounted to approximately $355&nbsp;million. Our net earnings before interest expense and income taxes amounted to
approximately $228 million for the <FONT STYLE="white-space:nowrap">12-month</FONT> period ended September&nbsp;30, 2025, which is 0.64 times our interest requirements for that period. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman; " ALIGN="left">The Corporation would have required additional earnings of $127&nbsp;million for the 12 months ended
September&nbsp;30, 2025, in order to achieve an earnings coverage ratio of <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">one-to-one</FONT></FONT> for each such period. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The earnings coverage ratios set forth above do not purport to be indicative of earnings coverage ratios for any future periods. The earnings
coverage ratios have been calculated based on information prepared in accordance with IFRS. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-46 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_13"></A>CERTAIN INCOME TAX CONSIDERATIONS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following summary is of a general nature only and is not intended to be, and should not be construed to be, legal or tax advice to any
prospective investor and no representation with respect to the tax consequences to any particular investor is made. Accordingly, prospective investors should consult with their own tax advisors for advice with respect to the income tax consequences
to them having regard to their own particular circumstances, including any consequences of an investment in the Notes arising under state, provincial or local tax laws in the United States or Canada or tax laws of jurisdictions outside the United
States or Canada. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Certain Canadian Federal Income Tax Considerations </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following summary, as of the date hereof, describes the principal Canadian federal income tax considerations generally applicable to a
purchaser of Notes pursuant to this Prospectus Supplement and the Prospectus who, at all relevant times, for purposes of the Tax Act and any applicable tax treaty: (i)&nbsp;is neither resident nor deemed to be resident in Canada; (ii)&nbsp;acquires
the Notes as beneficial owner under this Prospectus Supplement; (iii)&nbsp;deals at arm&#8217;s length with, and is not affiliated with, us and with any transferee who is resident in Canada (or deemed to be resident in Canada) for purposes of the
Tax Act and to whom the purchaser assigns or otherwise transfers a Note; (iv)&nbsp;does not use or hold and is not deemed to use or hold a Note in carrying on business in Canada; (v)&nbsp;is not an insurer who carries on an insurance business, or is
deemed to carry on an insurance business, in Canada and elsewhere; (vi)&nbsp;is not an &#8220;authorized foreign bank&#8221; as defined in the Tax Act; (vii)&nbsp;is entitled, as beneficial owner, to receive all payments (including principal,
interest and premium, if any) in respect of a Note; and (viii)&nbsp;is not a &#8220;<B>specified <FONT STYLE="white-space:nowrap">non-resident</FONT></B> <B>shareholder</B>&#8221; of us within the meaning of subsection 18(5) of the Tax Act or a
person that does not deal at arm&#8217;s length with a &#8220;specified shareholder&#8221; within the meaning of subsection 18(5) (each such purchaser is referred to herein as a &#8220;<B><FONT STYLE="white-space:nowrap">Non-Resident</FONT>
Holder</B>&#8221;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">This summary is based on the current provisions of the Tax&nbsp;Act, the regulations thereunder (the
&#8220;<B>Regulations</B>&#8221;)<B> </B>and counsel&#8217;s understanding of the current administrative policies and assessing practices of the CRA<B> </B>published in writing, publicly available and in effect as of the date hereof. This summary
also takes into account all specific proposals to amend the Tax&nbsp;Act and the Regulations publicly announced by or on behalf of the Minister of Finance (Canada) prior to the date of this Prospectus Supplement (the&nbsp;&#8220;<B>Proposed
Amendments</B>&#8221;) and assumes that all Proposed Amendments will be enacted in the form proposed. No assurance can be given that the Proposed Amendments will be enacted in the form proposed, or at all. Other than the Proposed Amendments, this
summary does not take into account or anticipate any changes in law or CRA administrative policies or assessing practices, whether by legislative, governmental or judicial action or interpretation, nor does it take into account provincial,
territorial or foreign tax considerations, which may differ significantly from those discussed herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">This summary does not address the
possible application of the &#8220;hybrid mismatch arrangement&#8221; rules contained in section 18.4 of the Tax Act to a <FONT STYLE="white-space:nowrap">Non-Resident</FONT> Holder (i)&nbsp;that disposes of a Note to a person or entity with which
it does not deal at arm&#8217;s length or to an entity that is a &#8220;specified entity&#8221; (as defined in subsection&nbsp;18.4(1) of the Tax Act) with respect to the <FONT STYLE="white-space:nowrap">Non-Resident</FONT> Holder or in respect of
which the <FONT STYLE="white-space:nowrap">Non-Resident</FONT> Holder is a &#8220;specified entity&#8221;, (ii) that disposes of a Note under, or in connection with, a &#8220;structured arrangement&#8221; (as defined in subsection 18.4(1) of the Tax
Act), or (iii)&nbsp;in respect of which we are a &#8220;specified entity&#8221;. Such <FONT STYLE="white-space:nowrap">Non-Resident</FONT> Holders should consult their own tax advisors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman"><B>This summary is of a general nature only and is not intended to be, nor should it be construed to be, legal or tax advice to any particular
purchaser and no representations with respect to the income tax consequences to any particular purchaser are made. This summary is not exhaustive of all Canadian federal income tax considerations. Accordingly, prospective purchasers of Notes should
consult their own tax advisors with respect to their own particular circumstances. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-47 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Under the Tax Act, interest, principal, discount or premium, if any, paid or credited, or
deemed to be paid or credited, by the Company to a <FONT STYLE="white-space:nowrap">Non-Resident</FONT> Holder on the Notes, and any proceeds of disposition received by a <FONT STYLE="white-space:nowrap">Non-Resident</FONT> Holder on the disposition
of a Note including on redemption, payment on maturity or repurchase, will be exempt from Canadian withholding tax. No other taxes on income (including taxable capital gains) will be payable under the Tax Act by a
<FONT STYLE="white-space:nowrap">Non-Resident</FONT> Holder on interest, principal, discount or premium, or on the proceeds received by a <FONT STYLE="white-space:nowrap">Non-Resident</FONT> Holder on the disposition of a Note including on
redemption, payment on maturity or repurchase, solely as a consequence of the acquisition, holding or disposition (including on redemption, payment on maturity or repurchase) of the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Certain U.S.&nbsp;Federal Income Tax Considerations </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The following is a summary of the certain U.S.&nbsp;federal income tax considerations relevant to the acquisition, ownership and disposition
of a Note by an initial purchaser thereof who is a U.S.&nbsp;Holder (as hereinafter defined) who purchases the Note for cash at its &#8220;issue price&#8221; (the first price at which a substantial amount of the Notes is sold for cash, excluding
sales to bond houses, brokers, or similar persons acting in the capacity of underwriters, placement agents or wholesalers) and who will hold the Note as a &#8220;capital asset&#8221; within the meaning of Section&nbsp;1221 of the <I>Internal Revenue
Code of 1986</I>, as amended (the&nbsp;&#8220;<B>Code</B>&#8221;). This summary is intended for general information only and does not address all potentially relevant U.S.&nbsp;federal income tax matters. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">This summary does not address the tax consequences to U.S.&nbsp;Holders subject to special provisions of the Code including, without
limitation: banks and other financial institutions; thrifts; <FONT STYLE="white-space:nowrap">tax-exempt</FONT> entities or organizations; insurance companies; regulated investment companies or real estate investment trusts; holders subject to the
alternative minimum tax; certain former citizens or residents of the United States; dealers in securities or foreign currencies that elect to use a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> method
of accounting; traders that <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> their securities; qualified retirement plans; individual retirement accounts or other
<FONT STYLE="white-space:nowrap">tax-deferred</FONT> accounts; holders holding Notes as part of a &#8220;hedge&#8221;, &#8220;straddle&#8221;, &#8220;conversion transaction,&#8221; &#8220;wash sale&#8221; or other integrated transaction; entities or
arrangements that are treated as partnerships or other pass-through entities for U.S. federal income tax purposes (and investors therein); persons required for U.S.&nbsp;federal income tax purposes to conform the timing of income accruals with
respect to their Notes to their financial statements under Section&nbsp;451 of the Code; persons holding Notes that are attributable to an office or other fixed place of business maintained outside of the United States; persons holding 2029 Notes
whose 2029 Notes are redeemed; and holders with a &#8220;functional currency&#8221; other than the U.S.&nbsp;dollar. This summary also does not cover any state, local or <FONT STYLE="white-space:nowrap">non-U.S.&nbsp;tax</FONT> consequences. This
summary is based upon existing provisions of the Code, final and temporary Treasury regulations promulgated thereunder (&#8220;<B>U.S.</B><B></B><B>&nbsp;Treasury Regulations</B>&#8221;), and rulings and judicial decisions in effect on the date
hereof, all of which are subject to change or differing interpretation (possibly with retroactive effect), so as to result in U.S.&nbsp;federal income tax consequences different from those described herein. This discussion is not binding on the
U.S.&nbsp;Internal Revenue Service (the&nbsp;&#8220;<B>IRS</B>&#8221;) and we have not sought and will not seek any ruling from the IRS regarding the matters discussed below. There can be no assurance that the IRS will not take positions that are
different from those discussed below or that a U.S.&nbsp;court will not sustain such a challenge. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">As used herein, the term
&#8220;<B>U.S.</B><B></B><B>&nbsp;Holder</B>&#8221; means a beneficial owner of a Note that, for U.S. federal income tax purposes, is (i)&nbsp;an individual who is a citizen or resident of the United States, (ii)&nbsp;a corporation created or
organized under the laws of the United States, any state thereof or the District of Columbia, (iii)&nbsp;an estate the income of which is subject to U.S.&nbsp;federal income tax without regard to its source, or (iv)&nbsp;a trust if a court within
the United States is able to exercise primary supervision over the administration of the trust and one or more United States persons have the authority to control all substantial decisions of the trust or if the trust has a valid election in effect
to be treated as a United States person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">If an entity or arrangement treated as a partnership for U.S.&nbsp;federal income tax purposes
holds Notes, the U.S.&nbsp;federal income tax treatment of a partner in the partnership will depend on the status of the partner and the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-48 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
activities of the partnership. Entities or arrangements treated as partnerships for U.S.&nbsp;federal income tax purposes that are considering an investment in Notes and investors therein should
consult their tax advisors regarding the tax consequences of the acquisition, ownership or disposition of the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Effect of Certain Contingencies
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In certain circumstances we may be obligated to pay amounts in excess of stated interest or principal on the Notes (see, for example,
&#8220;<I>Description of Debt Securities</I><I></I><I>&nbsp;&#8211; Payment of Additional Amounts</I>&#8221; in the Prospectus and &#8220;<I>Description of Notes&#8211;Optional Redemption,</I>&#8221; &#8220;<I>Description of
Notes</I><I></I><I>&nbsp;&#8211; Repurchase Upon Change of Control Triggering Event</I>&#8221; and &#8220;<I>Description of Notes</I><I></I><I>&nbsp;&#8211; Tax Redemption</I>&#8221; in this Prospectus Supplement). These potential payments may
implicate the U.S. Treasury Regulations relating to &#8220;contingent payment debt instruments.&#8221; However, under the applicable U.S.&nbsp;Treasury Regulations, such contingent payments should not cause the Notes to be contingent payment debt
instruments if, based on all the facts and circumstances as of the date on which the Notes are issued, there is only a remote likelihood that any contingencies causing the payment of such excess amounts will occur, if such excess amounts, in the
aggregate, are considered incidental or if another exception applies. We believe and, to the extent required to take a position, intend to take the position that the possibility of paying excess amounts should not cause the Notes to be contingent
payment debt instruments. Our position will be binding on a U.S.&nbsp;Holder unless such holder timely and explicitly discloses its contrary position in the manner required by applicable U.S.&nbsp;Treasury Regulations. Our position, however, is not
binding on the IRS. If the IRS successfully challenges this position, a U.S. Holder may be required to accrue interest income on its Notes at a rate in excess of the stated interest rate and to treat any gain recognized on the taxable disposition of
a Note as ordinary income rather than as capital gain. Prospective U.S.&nbsp;Holders should consult their own tax advisors regarding this issue. The remainder of this discussion assumes that the Notes will not be treated as contingent payment debt
instruments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Interest </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest (including, for purposes of this discussion, any taxes withheld therefrom and any additional amounts paid with respect thereto) on
the Notes will generally be taxable to a U.S.&nbsp;Holder as ordinary income at the time it is received or accrued in accordance with such holder&#8217;s regular method of accounting for U.S.&nbsp;federal income tax purposes. Such interest generally
will constitute income from sources outside the United States and passive category income for U.S.&nbsp;foreign tax credit limitation purposes. The rules governing U.S.&nbsp;foreign tax credits are complex. Prospective purchasers of Notes should
consult their tax advisors regarding the availability of U.S.&nbsp;foreign tax credits in their particular circumstances. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Sale, Exchange,
Retirement, Redemption or Other Taxable Disposition of a Note </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Upon the sale, exchange, retirement, redemption or other taxable
disposition of a Note, a U.S.&nbsp;Holder generally will recognize gain or loss equal to the difference, if any, between the amount realized on such disposition (other than amounts received that are attributable to accrued but unpaid interest, which
amounts will be taxable as ordinary income to the extent not previously included in income) and such U.S.&nbsp;Holder&#8217;s adjusted tax basis in the Note, which generally is its cost. Such gain or loss generally will constitute capital gain or
loss and generally will be long-term capital gain or loss if the Note was held by such U.S.&nbsp;Holder for more than one year. Net long-term capital gain of <FONT STYLE="white-space:nowrap">non-corporate</FONT> U.S.&nbsp;Holders, including
individuals, is generally eligible for reduced rates of taxation. The deductibility of capital losses is subject to limitations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Gain or
loss recognized by a U.S.&nbsp;Holder generally will be treated as U.S.&nbsp;source income or loss for foreign tax credit purposes. Prospective investors should consult their own tax advisors as to the foreign tax credit implications of such taxable
disposition of a Note. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-49 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Additional Tax on Investment Income </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Certain U.S.&nbsp;Holders who are individuals, estates or trusts and whose income exceeds certain thresholds generally will be required to pay
an additional 3.8&nbsp;percent tax on all or a portion of their &#8220;net investment income,&#8221; which includes, among other things, interest income and capital gains from the sale or other taxable disposition (including retirement or
redemption) of a Note, subject to certain limitations and exceptions. Prospective U.S.&nbsp;Holders should consult their own tax advisors regarding the application of this additional tax to their investment in the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Information Reporting and Backup Withholding </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In general, payments of interest and principal on and the proceeds from sales of Notes held by a U.S.&nbsp;Holder may be required to be
reported to the IRS unless the U.S.&nbsp;Holder is a corporation or other exempt recipient and, when required, demonstrates this fact. In addition, a U.S.&nbsp;Holder that is not an exempt recipient may be subject to backup withholding of
U.S.&nbsp;federal income tax on such payments unless it provides its taxpayer identification number and otherwise complies with applicable certification requirements. Backup withholding is not an additional tax. The amount of any backup withholding
from a payment to a U.S.&nbsp;Holder generally will be allowed as a credit against such U.S.&nbsp;Holder&#8217;s U.S.&nbsp;federal income tax liability and may entitle such U.S.&nbsp;Holder to a refund, provided that the required information is
furnished to the IRS in a timely manner. Prospective U.S. Holders should consult their tax advisors regarding the application of backup withholding, the availability of an exemption from backup withholding and the procedure for obtaining such an
exemption, if available. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Information with Respect to Foreign Financial Assets </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Certain U.S. Holders (including individuals) who hold an interest in &#8220;specified foreign financial assets&#8221; (as defined in
Section&nbsp;6038D of the Code) with an aggregate value exceeding certain threshold amounts generally are required to report information relating to such assets with their tax returns (generally, on IRS Form 8938), subject to certain exceptions. The
Notes generally will constitute specified foreign financial assets subject to these reporting requirements unless the Notes are held in accounts maintained by certain financial institutions (in which case the accounts themselves may be reportable if
maintained by <FONT STYLE="white-space:nowrap">non-U.S.</FONT> financial institutions). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Prospective U.S. Holders should consult their own
tax advisors regarding application of the foregoing disclosure requirements to their ownership of the Notes and the potentially significant penalties for, and other adverse consequences of, <FONT STYLE="white-space:nowrap">non-compliance.</FONT>
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>FATCA </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">No additional amounts
will be required to be paid on account of, and payments on the Notes will be paid net of, any deduction or withholding imposed under Sections&nbsp;1471 through 1474 of the Code (provisions commonly known as &#8220;<B>FATCA</B>&#8221;) or any current
or future regulations issued thereunder, any intergovernmental agreement entered into with respect to FATCA or similar law or regulation adopted pursuant to an intergovernmental agreement between a
<FONT STYLE="white-space:nowrap">non-U.S.&nbsp;jurisdiction</FONT> and the United States with respect to the foregoing or any agreements entered into pursuant to Section&nbsp;1471(b)(1) of the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman"><B>THE U.S.&nbsp;FEDERAL INCOME TAX DISCUSSION SET FORTH ABOVE IS INCLUDED FOR GENERAL INFORMATION ONLY AND MAY NOT BE APPLICABLE DEPENDING
UPON A PROSPECTIVE PURCHASER&#8217;S PARTICULAR SITUATION. PROSPECTIVE PURCHASERS ARE URGED TO CONSULT THEIR OWN TAX ADVISORS WITH RESPECT TO THE TAX CONSEQUENCES TO THEM OF THE ACQUISITION, OWNERSHIP AND DISPOSITION OF THE NOTES INCLUDING THE TAX
CONSEQUENCES UNDER U.S. FEDERAL, STATE AND LOCAL, <FONT STYLE="white-space:nowrap">NON-U.S.&nbsp;AND</FONT> OTHER TAX LAWS AND THE POSSIBLE EFFECTS OF CHANGES IN U.S.&nbsp;OR OTHER TAX LAWS. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-50 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_14"></A>UNDERWRITING </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We intend to offer the Notes through the underwriters named below for whom RBC Capital Markets, LLC
(the&nbsp;&#8220;<B>Representative</B>&#8221;) is acting as representative. Subject to the terms and conditions contained in the underwriting agreement dated the date of this Prospectus Supplement, each underwriter has severally agreed to purchase,
and we have agreed to sell to such underwriter, the principal amount of Notes set forth opposite the underwriter&#8217;s name. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="71%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="27%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman"><B>Underwriter</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>&#8195;&#8195;Principal&nbsp;Amounts&nbsp;of&nbsp;Notes&#8195;</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">RBC Capital Markets, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$88,000,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">CIBC World Markets Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$48,000,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">BofA Securities, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$19,200,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Morgan Stanley &amp; Co. LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$19,200,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Scotia Capital (USA) Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$38,400,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">BMO Capital Markets Corp.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$33,600,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">TD Securities (USA) LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$33,600,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">National Bank of Canada Financial Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$33,600,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">ATB Securities Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$19,200,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Desjardins Securities Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$19,200,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">MUFG Securities Americas Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$19,200,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">J.P. Morgan Securities LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$9,600,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Mizuho Securities USA LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$9,600,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Loop Capital Markets LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#8195;&#8195;&#8195;US$9,600,000</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP><B>&#8195;&#8195;&#8195;US$400,000,000</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In the underwriting agreement, the underwriters have severally agreed, subject to the terms and conditions set
forth therein, to purchase all the Notes offered under this Prospectus Supplement if any of the Notes are purchased. In the event of default by an underwriter, the underwriting agreement provides that, in certain circumstances, purchase commitments
of the <FONT STYLE="white-space:nowrap">non-defaulting</FONT> underwriters may be increased or the underwriting agreement may be terminated. The obligations of the underwriters under the underwriting agreement may also be terminated upon the
occurrence of certain stated&nbsp;events specified in the underwriting agreement including &#8220;regulatory out&#8221;, &#8220;litigation out&#8221;, &#8220;disaster out&#8221; and &#8220;material change out&#8221; provisions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The underwriting agreement provides that the obligations of the underwriters to purchase the Notes are subject to approval of legal matters by
counsel and to other conditions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The underwriters propose to offer the Notes directly to the public at the public offering price set
forth on the cover page of this Prospectus Supplement. After the underwriters have made a reasonable effort to sell all of the Notes offered by this Prospectus Supplement at the price set forth on the cover page of this Prospectus Supplement, the
offering price of the Notes may be decreased and may be further changed from time to time to an amount not greater than the price set forth on the cover page of this Prospectus Supplement. Any such reduction will not affect the proceeds we receive
pursuant to the offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The underwriting agreement provides that, in consideration of the services of the underwriters in connection
with the offering of Notes, we will pay the underwriters a commission equal to 1.25% of the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-51 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
principal amount of Notes sold pursuant to the offering, for an aggregate commission payable by us of U.S.$5.0&nbsp;million. The underwriters&#8217; commission is payable on the closing of the
offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The terms of the offering were established through negotiations between us and the underwriters. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We have agreed to indemnify the underwriters against certain liabilities, including liabilities under the U.S.&nbsp;Securities Act, or to
contribute to payments the underwriters may be required to make because of any such liabilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In connection with this offering, the
Representative may purchase and sell Notes in the open market. These transactions may include over-allotment, syndicate covering transactions and stabilizing transactions. Over-allotment involves syndicate sales of the Notes in excess of the
principal amount of the Notes to be purchased by the underwriters in this offering, which creates a syndicate short position. Syndicate covering transactions involve purchases of the Notes in the open market after the distribution has been completed
in order to cover syndicate short positions. Stabilizing transactions consist of certain bids or purchases of the Notes made for the purpose of preventing or retarding a decline in the market price of the Notes while this offering is
in&nbsp;progress. The underwriters may also impose a penalty bid. Penalty bids permit the underwriters to reclaim a selling concession from a syndicate member when the Representative, in covering syndicate short positions or making stabilizing
purchases, repurchases Notes originally sold by that syndicate member. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">As a result of these activities, the market price of the Notes
offered under this Prospectus Supplement may be higher than the price that otherwise might exist in the open market. If these activities are commenced, they may be discontinued by the Representative at any time without notice. The Representative may
carry out these transactions in the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT> market or&nbsp;otherwise. Neither we nor any of the underwriters make any representation or prediction as to the
direction or magnitude of any effect that the transactions described above may have on the price of the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We estimate that our total
expenses for this offering will be approximately US$1.5&nbsp;million (not including underwriting commissions). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Relationship Between TransAlta and the
Underwriters </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Certain of the underwriters are, directly or indirectly, subsidiaries or affiliates of lenders (collectively, the
&#8220;<B>Lenders</B>&#8221;) that have extended credit facilities (collectively, the &#8220;<B>Facilities</B>&#8221;) to us or our subsidiaries and to which we or our subsidiaries are currently indebted. In addition, certain of the underwriters, or
their subsidiaries or affiliates, may be holders of the 2029 Notes. As described in &#8220;<I>Use of Proceeds</I>&#8221;, we intend to use the net proceeds from this offering, together with cash on hand, to redeem the 2029 Notes. To the extent that
the underwriters (or their respective subsidiaries or affiliates) are holders of 2029 Notes, they may receive a portion of the net proceeds from this offering of Notes. Accordingly, we may be considered to be a &#8220;connected issuer&#8221; of such
underwriters under applicable Canadian securities legislation. As of December&nbsp;10, 2025, we and our subsidiaries were indebted to the Lenders under the Facilities in the aggregate amount of approximately $204&nbsp;million. As of the date hereof,
we and our subsidiaries are in compliance with all material terms of the agreements governing the Facilities and none of the Lenders has waived any breach by us or our subsidiaries of those agreements since the Facilities were established. Our
financial position has not changed substantially and adversely since the indebtedness under the Facilities was incurred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">RBC Capital
Markets, LLC, together with its affiliates, RBC Global Asset Management Inc., RBC Phillips Hager&nbsp;&amp; North Investment Counsel Inc., RBC Private Counsel (USA) Inc., Royal Trust Corporation of Canada, GFC Partnership and RT Partnership,
collectively own approximately 9.5% of the issued and outstanding common shares of the Corporation. Accordingly, the Corporation may be considered a &#8220;related issuer&#8221; or a &#8220;connected issuer&#8221; to RBC Capital Markets, LLC for
purposes of applicable Canadian securities laws. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-52 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Certain of the underwriters and their respective affiliates have in the past performed, and
may in the future perform, various financial advisory, investment banking and commercial lending service for us and our affiliates in the ordinary course of business, for which they have received and will receive customary fees and commissions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In the ordinary course of their business activities, the underwriters and their affiliates may make or hold a broad array of investments and
actively trade debt and equity securities (or&nbsp;related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers. Such investments and securities activities may involve
securities and/or instruments of ours or our affiliates. Certain of the underwriters or their affiliates that have a lending relationship with us routinely hedge their credit exposure to us consistent with their customary risk management policies.
Typically, such underwriters and their affiliates would hedge such exposure by entering into transactions which consist of either the purchase of credit default </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">swaps or the creation of short positions in our securities, including potentially the Notes offered hereby. Any such credit default swaps or short positions
could adversely affect future trading prices of the Notes offered hereby. The underwriters and their affiliates may also make investment recommendations and/or publish or express independent research views in respect of such securities or financial
instruments and may hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">As a
consequence of their participation in the offering of Notes, the underwriters will be entitled to share in the underwriting commissions relating to the offering. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The decision to distribute the Notes hereunder and the determination of the terms of the offering were made through negotiations between us
and the underwriters. None of the Lenders has been or will be involved in the decision to offer the Notes and none has been or will be involved in the determination of the terms of any distribution of the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Certain of the underwriters may not be U.S. registered broker-dealers and accordingly will not effect any sales within the United States
except in compliance with applicable U.S. laws and regulations, including the rules of the FINRA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Settlement</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We expect that delivery of the Notes will be made to investors on or about December&nbsp;22, 2025, which will be the 7<SUP
STYLE="font-size:75%; vertical-align:top">th</SUP> business day following the date of this Prospectus Supplement (such settlement being referred to as &#8220;T+7&#8221;). Under Rule&nbsp;15c6-1 of the U.S. Exchange Act, trades in the secondary
market generally are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade their Notes prior to the business day immediately preceding the closing date may
be required, by virtue of the fact that the Notes will settle in T+7, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade their Notes prior to the closing
date should consult their own advisors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No Sales or Similar Securities</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">We have agreed that we will not, for a period of 90&nbsp;days after the date of this Prospectus Supplement, without first obtaining the prior
written consent of the Representative, offer, sell, or contract to sell, directly or indirectly, any debt securities issued or guaranteed by us, except for the Notes sold to the underwriters pursuant to the underwriting agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Offering Restrictions</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Notes are
offered for sale pursuant to this Prospectus Supplement in those jurisdictions in the United States where it is lawful to make such offers. No action has been taken, or will be taken, which would permit a public offering of the Notes in any
jurisdiction outside the United States. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-53 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Each of the underwriters has severally represented and agreed that it has not offered, sold
or delivered and it will not offer, sell or deliver, directly or indirectly, any of the Notes, in or from any jurisdiction except under circumstances that are reasonably designed to result in compliance with the applicable laws and regulations
thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">This Prospectus Supplement qualifies the distribution of the Notes in each of the provinces of Canada solely for the purpose of
registering the Notes in the United States, pursuant to the multi-jurisdictional disclosure system adopted by the United States This Prospectus Supplement does not qualify the Notes for distribution to purchasers in Canada, or to residents of
Canada. Pursuant to the underwriting agreement, each underwriter has agreed that it will only, directly or indirectly, offer, sell or deliver Notes in Canada or to residents of Canada pursuant to an available exemption from Canadian prospectus
requirements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Notes may not be acquired or held by any person who is an employee benefit plan or other plan or arrangement subject to
Title I of the <I>Employee Retirement Income Security Act of 1974</I>, as amended (&#8220;<B>ERISA</B>&#8221;), or Section&nbsp;4975 of the Code, or who is acting on behalf of or investing the assets of any such plan or arrangement, unless the
acquisition and holding of the Notes by such person will not result in a non-exempt prohibited transaction under Section&nbsp;406 of ERISA or Section&nbsp;4975 of the Code. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-54 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_15"></A>LEGAL MATTERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Certain legal matters relating to Canadian law in connection with the offering of the Notes will be passed upon on behalf of the Corporation
by Blake, Cassels&nbsp;&amp; Graydon LLP and on behalf of the underwriters by Osler, Hoskin&nbsp;&amp; Harcourt LLP. Certain legal matters relating to United States law in connection with the offering of the Notes will be passed upon on behalf of
the Corporation by Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP, New York, New York and on behalf of the underwriters by Latham&nbsp;&amp; Watkins LLP, Austin, Texas. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-55 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_16"></A>EXPERTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The annual consolidated financial statements of the Corporation included in this Prospectus Supplement, and the effectiveness of the
Corporation&#8217;s internal control over financial reporting, have been audited by Ernst&nbsp;&amp; Young LLP, an independent registered public accounting firm, as set forth in their reports thereon, included therein, and included herein. Such
consolidated financial statements have been included herein in reliance upon the reports of such firm given on their authority as experts in accounting and auditing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In connection with the audit of our annual consolidated financial statements, Ernst&nbsp;&amp; Young LLP is independent with respect to
TransAlta Corporation in accordance with the Rules of Professional Conduct of the Chartered Professional Accountants of Alberta and in compliance with Rule&nbsp;3520 of the Public Company Accounting Oversight Board (United States). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-56 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_17"></A>EXHIBIT&nbsp;&#8220;A&#8221; </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ANNUAL AUDITED FINANCIAL STATEMENTS AS AT AND FOR THE YEARS ENDED DECEMBER&nbsp;31, 2024 AND 2023 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">See attached. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SA-1 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:30pt; font-family:arial"><FONT COLOR="#171a5f"><B>Consolidated Financial Statements </B></FONT></P>
<P STYLE="margin-top:23pt; margin-bottom:0pt; font-size:18pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Management&#8217;s Report </B></FONT></P> <P STYLE="margin-top:22pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>To the Shareholders of TransAlta Corporation </B></FONT></P>
<P STYLE="font-size:13pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Consolidated Financial Statements and other financial information included in
this annual report have been prepared by management. It is management&#8217;s responsibility to ensure that sound judgment, appropriate accounting principles and methods, and reasonable estimates have been used to prepare this information. They also
ensure that all information presented is&nbsp;consistent. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Management is also responsible for establishing and
maintaining internal controls and procedures over the financial reporting process. The internal control system includes an internal audit function and an established business conduct policy that applies to all employees. In addition, TransAlta
Corporation (TransAlta or the Company) has a Corporate Code of Conduct that applies to all employees and is signed annually and can be viewed on the Company&#8217;s website (www.transalta.com). Management believes the system of internal controls,
review procedures and established policies provides reasonable assurance as to
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
the reliability and relevance of financial reports. Management also believes that TransAlta&#8217;s operations are conducted in conformity with the law and with a high standard of business
conduct. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Board of Directors (the Board) is responsible for ensuring that management fulfils its responsibilities for
financial reporting and internal controls. The Board carries out its responsibilities principally through its Audit, Finance and Risk Committee (the Committee). The Committee, which consists solely of independent directors, reviews the financial
statements and annual report and recommends them to the Board for approval. The Committee meets with management and internal and external auditors to discuss internal controls, auditing matters and financial reporting issues. Internal and external
auditors have full and unrestricted access to the Committee. The Committee also recommends the firm of external auditors to be appointed by shareholders.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:26pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt;margin-bottom:0pt">&#8194;


<IMG SRC="g938159g74g74.jpg" ALT="LOGO" STYLE="width:2.185in;height:0.64in;">
</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt;margin-bottom:0pt">&#8195;


<IMG SRC="g938159g75g75.jpg" ALT="LOGO" STYLE="width:1.36111in;height:0.618056in;">
</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>John Kousinioris</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>Joel Hunter</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">President and Chief Executive Officer</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Executive Vice President, Finance and</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Chief Financial Officer</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">February&nbsp;19, 2025</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F1</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Management&#8217;s Annual Report on Internal Control Over Financial
Reporting </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>To the Shareholders of TransAlta Corporation </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following report is provided by management in respect of TransAlta
Corporation&#8217;s (TransAlta or the Company) internal control over financial reporting (as defined in <FONT STYLE="white-space:nowrap">Rules&nbsp;13a-15f</FONT> and <FONT STYLE="white-space:nowrap">15d-15f</FONT> under the United States Securities
Exchange Act of 1934 and National Instrument <FONT STYLE="white-space:nowrap">52-109</FONT> Certification of Disclosure in Issuers&#8217; Annual and Interim Filings <FONT STYLE="white-space:nowrap">(NI&nbsp;51-109)).</FONT> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s management is responsible for establishing and maintaining adequate internal control over financial reporting for
the Company. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Management uses the Committee of Sponsoring Organizations of the Treadway Commission (COSO) 2013 framework
to evaluate the effectiveness of TransAlta&#8217;s internal control over financial reporting. Management believes that the COSO 2013 framework is appropriate for its evaluation of TransAlta&#8217;s internal control over financial reporting because
it is free from bias, permits reasonably consistent qualitative and quantitative measurements of internal controls, is sufficiently complete so any relevant factors that would alter a conclusion about the effectiveness of the Company&#8217;s
internal controls are not omitted, and is relevant to an evaluation of internal control over financial reporting. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Internal control over financial reporting cannot provide absolute assurance of achieving financial reporting objectives due to its
inherent limitations. Internal control over financial reporting are processes that involve human diligence and compliance that are subject to lapses in judgment and breakdowns resulting from human failures. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Internal control over financial reporting can also be circumvented by collusion or improper overrides. As a result of such
limitations, there is a risk that material misstatements may not be prevented or detected on a timely basis. These inherent limitations are known features of the financial reporting process and it is possible to design safeguards into the process to
reduce, though not eliminate, this risk. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In accordance with the provisions of NI
<FONT STYLE="white-space:nowrap">52-109</FONT> and consistent with U.S. Securities and Exchange Commission guidance, the scope of the evaluation did not include internal control over financial reporting of Heartland Generation Ltd. and Alberta Power
(2000)&nbsp;Ltd. (collectively Heartland), which the Company acquired on Dec. 4, 2024. Heartland was excluded from management&#8217;s evaluation of the effectiveness of the Company&#8217;s internal control over financial reporting as at Dec. 31,
2024, due to the proximity of the acquisition to <FONT STYLE="white-space:nowrap">year-end.</FONT> Further details related to the acquisition are disclosed in Note 4 to the Company&#8217;s Consolidated Financial Statements for the year ended Dec.
31, 2024. Included in the 2024 Consolidated Financial Statements of TransAlta for Heartland are eight per cent and 20&nbsp;per cent of the Company&#8217;s total and net assets, respectively, as at Dec. 31, 2024 and one per cent and (5)&nbsp;per cent
of the Company&#8217;s revenues and net earnings, respectively, for the year ended Dec. 31, 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta equity
accounts for our investment in SP Skookumchuck Investment, LLC (Skookumchuck) in accordance with International Financial Reporting Standards. Management does not have the contractual ability to assess the internal controls of this equity investment.
Once the financial information is obtained from Skookumchuck, it falls within the scope of TransAlta&#8217;s internal controls framework. Management&#8217;s conclusion regarding the effectiveness of internal controls does not extend to the internal
controls at the transactional level of this associate. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Included in the 2024 Consolidated Financial Statements of
TransAlta for equity-accounted investments are one per cent and six per cent of the&nbsp;Company&#8217;s total and net assets, respectively, as at Dec. 31, 2024, and zero per cent and three per cent of the Company&#8217;s revenues and net earnings,
respectively, for the year ended Dec.&nbsp;31, 2024. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F2&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Consolidated Financial Statements </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Changes in Internal Control over Financial Reporting </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s internal controls over financial reporting commencing Dec. 4,
2024, include controls designed to result in the complete and accurate consolidation of results attributable to Heartland. There has been no change in the Company&#8217;s internal control over financial reporting that occurred during the year
covered by this Annual Report that has materially affected, or is reasonably likely to materially affect, the Company&#8217;s internal control over financial reporting. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Management has assessed the effectiveness of TransAlta&#8217;s internal control over financial reporting as at Dec. 31, 2024,
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
and has concluded that such internal control over financial reporting was effective. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Ernst&nbsp;&amp; Young LLP, who has audited the Consolidated Financial Statements of TransAlta for the year ended Dec. 31, 2024, has also issued a report on internal control over financial reporting under the standards of the
Public&nbsp;Company Accounting Oversight Board. This report is located on the following page&nbsp;of this Annual&nbsp;Report.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt;margin-bottom:0pt">&#8194;


<IMG SRC="g938159g74g74.jpg" ALT="LOGO" STYLE="width:2.185in;height:0.64in;">
</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt;margin-bottom:0pt">&#8195;


<IMG SRC="g938159g75g75.jpg" ALT="LOGO" STYLE="width:1.36111in;height:0.618056in;">
</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>John Kousinioris</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>Joel Hunter</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">President and Chief Executive Officer</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Executive Vice President, Finance and</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Chief Financial Officer</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">February&nbsp;19, 2025</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F3</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Report&nbsp;of&nbsp;Independent&nbsp;Registered&nbsp;Public&nbsp;Accounting&nbsp;Firm </B></FONT></P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>To the Shareholders and Board of Directors of TransAlta Corporation </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Opinion on Internal Control Over Financial Reporting </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have audited TransAlta Corporation&#8217;s internal control over financial reporting as of December&nbsp;31, 2024, based on
criteria established in Internal Control &#8212; Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the &#8220;COSO criteria&#8221;). In our opinion, TransAlta Corporation (the
&#8220;Company&#8221;) maintained, in all material respects, effective internal control over financial reporting as of December&nbsp;31, 2024, based on the COSO criteria. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As indicated in the accompanying Management&#8217;s Annual Report on Internal Control over Financial Reporting, management&#8217;s
assessment of and conclusion on the effectiveness of internal control over financial reporting did not include the internal controls of Heartland Generation Ltd. and Alberta Power (2000)&nbsp;Ltd. which are included in the 2024 consolidated
financial statements of the Company and constituted 8% and 20% of total and net assets, respectively, as of December&nbsp;31, 2024, and 1% and (5)% of revenues and net earnings, respectively, for the year then ended, and the equity accounted joint
venture of SP Skookumchuck Investment, LLC which are included in the 2024 consolidated financial statements of the Company and constituted 1% and 6% of total and net assets, respectively, as of December&nbsp;31, 2024, and 0% and 3% of revenues and
net earnings, respectively, for the year then ended. Our audit of internal control over financial reporting of the Company also did not include an evaluation of the internal control over financial reporting of Heartland Generation Ltd. and Alberta
Power (2000)&nbsp;Ltd. and the equity accounted joint venture of SP Skookumchuck Investment, LLC. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We also have audited,
in accordance with the standards of the Public Company Accounting Oversight Board (United States) (&#8220;PCAOB&#8221;), the consolidated statements of financial position of TransAlta Corporation as of December&nbsp;31, 2024 and 2023, the related
consolidated statements of earnings, comprehensive income (loss), changes in equity and cash flows for each of the three years in the period ended December&nbsp;31, 2024, and the related notes and our report dated February&nbsp;19, 2025 expressed an
unqualified opinion thereon. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Basis for Opinion </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s management is responsible for maintaining effective internal control over financial reporting and for its
assessment of the effectiveness of internal control over financial reporting included in the accompanying Management&#8217;s Annual Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the
Company&#8217;s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We conducted our
audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a
material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit
provides a reasonable basis for our opinion. </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F4&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Consolidated Financial Statements </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Definition and Limitations of Internal Control Over Financial Reporting
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company&#8217;s internal control over financial reporting includes
those policies and procedures that (1)&nbsp;pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2)&nbsp;provide reasonable assurance that
transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations
of management and directors of the company; and (3)&nbsp;provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company&#8217;s assets that could have a material effect on the
consolidated financial statements. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Because of its inherent limitations, internal control over financial reporting may
not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">/s/Ernst&nbsp;&amp; Young LLP </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Chartered Professional Accountants </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Calgary, Canada </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">February&nbsp;19, 2025 </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F5</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Report&nbsp;of&nbsp;Independent&nbsp;Registered&nbsp;Public&nbsp;Accounting&nbsp;Firm </B></FONT></P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>To the Shareholders and Board of Directors of TransAlta Corporation </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Opinion on the Consolidated Financial Statements </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have audited the accompanying consolidated statements of financial position of TransAlta Corporation (the &#8220;Company&#8221;)
as of December&nbsp;31, 2024 and 2023, the related consolidated statements of earnings, comprehensive income (loss), changes in equity and cash flows, for each of the three years in the period ended December&nbsp;31, 2024, and the related notes
(collectively referred to as the &#8220;consolidated financial statements&#8220;). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December&nbsp;31, 2024 and
2023, and the financial performance and its cash flows for each of the three years in the period ended December&nbsp;31, 2024, in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States)
(&#8220;PCAOB&#8221;), the Company&#8217;s internal control over financial reporting as of December&nbsp;31, 2024, based on criteria established in Internal Control &#8211; Integrated Framework (2013)&nbsp;issued by the Committee of Sponsoring
Organizations of the Treadway Commission (&#8220;COSO&#8221;), and our report dated February&nbsp;19, 2025 expressed an unqualified opinion thereon. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Basis for Opinion </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These consolidated financial statements are the responsibility of the
Company&#8216;s management. Our responsibility is to express an opinion on the Company&#8216;s consolidated financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with
respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the
consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated
financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our
audits provide a reasonable basis for our opinion. </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F6&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Consolidated Financial Statements </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Critical Audit Matters </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The critical audit matters communicated below are matters arising from the current period audit of the financial statements that
were communicated or required to be communicated to the audit committee and that: (1)&nbsp;relate to accounts or disclosures that are material to the financial statements and (2)&nbsp;involved our especially challenging, subjective or complex
judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions
on the critical audit matters or on the accounts or disclosures to which they relate. </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="3" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="middle" COLSPAN="3" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&#8201;&#8201;Acquisition of Heartland Generation</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.30em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Description&nbsp;of the Matter</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">As disclosed in notes 2(Q)(XV) and 4 of the consolidated financial statements, the Company completed the
acquisition of Heartland Generation Ltd. and Alberta Power (2000)&nbsp;Ltd. (collectively &#8220;Heartland&#8221;) for an aggregate purchase price of $542&nbsp;million. The acquisition has been accounted for as a business combination under IFRS 3
using the acquisition method and the results of operations have been included in the consolidated financial statements since the date of acquisition. The preliminary purchase price allocation is based on management&#8217;s best estimates of the
assets acquired and liabilities assumed. The fair values of the long-lived assets acquired as at the acquisition date of December&nbsp;4, 2024 was $412&nbsp;million.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Auditing the fair value of the long-lived assets as part of the preliminary purchase price allocation was
identified as a critical audit matter due to the significant estimation uncertainty and judgment applied by management in determining those fair values, primarily due to the sensitivity of the significant assumptions to the future cash flows and the
effect that changes in these assumptions would have on the fair values. The estimates with a high degree of subjectivity include market prices, capacity, and determining the appropriate discount rate.</FONT></P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.30em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">How We Addressed&nbsp;the Matter in Our Audit</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We obtained an understanding of management&#8217;s process for determining the fair value of long-lived assets
acquired. We evaluated the design and tested the operating effectiveness of controls over management&#8217;s review of the long- lived assets acquired, including controls related to the review and approval of the significant estimates used in the
determination of the fair value of the long-lived assets. Our audit procedures to test the fair values for a sample of facilities included, among others, comparing the significant assumptions used to estimate cash flows to current contracts with
external parties and historical trends and obtaining historical electricity generation data to evaluate future electricity generation capacity forecasts. We evaluated the Company&#8217;s determination of future sales prices by comparing them to
externally available third-party future electricity price estimates. We also involved our internal valuation specialist to assist in our evaluation of the discount rates, which involved benchmarking the inputs against available market
data.</FONT></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="middle" COLSPAN="3" STYLE="padding-bottom:3pt ;"> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>&#8201;&#8201;Valuation of Long-Lived Assets related to certain cash generating units (&#8220;CGU&#8220;s) and Goodwill related
to the Wind&nbsp;&amp; Solar segment</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.30em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Description of the Matter</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">As disclosed in notes 2(G), 2(H), 2(Q)(II), 7, and 22 of the consolidated financial statements, the Company
owns significant Wind&nbsp;&amp; Solar generation assets and has recognized goodwill from historical acquisitions which must be tested for impairment at least annually or when indicators of impairment are present. The carrying value of Goodwill
related to the Wind&nbsp;&amp; Solar segment as at December&nbsp;31, 2024 was $178&nbsp;million and the recoverable amount of long- lived assets in the Wind&nbsp;&amp; Solar segment that had indicators of impairment or impairment reversal during the
year was $540&nbsp;million.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Determining the recoverable amounts for the Wind&nbsp;&amp; Solar segment for the purposes of the goodwill
impairment test and of certain CGUs in the Wind&nbsp;&amp; Solar segment with indicators of impairment or impairment reversal (&#8220;Wind&nbsp;&amp; Solar CGUs&#8221;) for the asset impairment test was identified as a critical audit matter due to
the significant estimation uncertainty and judgment applied by management in determining the recoverable amount, primarily due to the sensitivity of the significant assumptions to the future cash flows and the effect that changes in these
assumptions would have on the recoverable amount. The estimates with a high degree of subjectivity include electricity production, sales prices, cost inputs, and determining the appropriate discount rate.</FONT></P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">How We Addressed the Matter in Our Audit</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">We obtained an understanding of management&#8217;s process for estimating the recoverable amount of the
Wind&nbsp;&amp; Solar segment and the Wind&nbsp;&amp; Solar CGUs. We evaluated the design and tested the operating effectiveness of controls over the Company&#8217;s processes to determine the recoverable amount. Our audit procedures to test the
Company&#8217;s recoverable amount of the Wind&nbsp;&amp; Solar segment and the Wind&nbsp;&amp; Solar CGUs with indicators of impairment or impairment reversal included, among others, comparing the significant assumptions used to estimate cash flows
to current contracts with external parties and historical trends and obtaining historical electricity generation data to evaluate future electricity production forecasts. We assessed the historical accuracy of management&#8217;s forecasts by
comparing them with actual results and performed a sensitivity analysis to evaluate the assumptions that were most significant to the determination of the recoverable amount. We evaluated the Company&#8217;s determination of future sales prices by
comparing them to externally available third-party future electricity price estimates. We also involved our internal valuation specialist to assist in our evaluation of the discount rates, which involved benchmarking the inputs against available
market data.</FONT></P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F7</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="12%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="87%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="middle" COLSPAN="3" STYLE="padding-bottom:3pt ;"> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial"><FONT COLOR="#636466"><B>&#8201;&#8201;Valuation of Level III Derivative Instruments</B></FONT></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.30em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Description&nbsp;of</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:0.30em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">the Matter</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">As disclosed in notes 2(B), 2(Q)(V) and 14 of the consolidated financial statements, the Company enters into
transactions that are accounted for as derivative financial instruments and are recorded at fair value. The valuation of derivative instruments classified as level III are determined using assumptions that are not readily observable. As at
December&nbsp;31, 2024 the fair value of the Company&#8217;s derivative financial instruments classified as level III was a $153 million net risk management liability.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Auditing the determination of fair value of level III derivative instruments that rely on significant
unobservable inputs can be complex and relies on judgments and estimates concerning future prices, discount rates, credit value adjustments, liquidity and delivery volumes, and can fluctuate significantly depending on market conditions. Therefore,
such determination of fair value was identified as a critical audit matter.</FONT></P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">How We</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Addressed the</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT
 COLOR="#636466">Matter in Our</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Audit</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">We obtained an understanding of the Company&#8217;s processes and we evaluated and tested the design and
operating effectiveness of internal controls addressing the determination and review of inputs used in establishing level III fair values. Our audit procedures included, among others, testing a sample of level III derivative instrument internal
models used by management and evaluating the significant assumptions utilized. We also compared management&#8217;s future pricing assumptions, credit value adjustments, and liquidity assumptions to third-party data as well as comparing terms such as
delivery volumes and timing to executed commodity contracts. We compared the delivery volume assumptions to historical information. We performed a sensitivity analysis to evaluate assumptions including future commodity prices, delivery volumes and
discount rates. For a sample of level III derivative instruments, we involved our internal valuation specialist to assist in our evaluation of the appropriateness of the fair value by evaluating the key assumptions and
methodologies.</FONT></P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">/s/Ernst&nbsp;&amp; Young LLP </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Chartered Professional Accountants </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">We have served as auditors of TransAlta Corporation and its predecessor entities since 1947. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Calgary,
Canada </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">February&nbsp;19, 2025 </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F8&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Consolidated Financial Statements </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Consolidated Statements of Earnings </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(in millions of Canadian dollars except where noted) </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="74%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2022</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Revenues (Note 5)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,845</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,355</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,976</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Fuel and purchased power (Note 6)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>939</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,060</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,263</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Carbon compliance
(Note 16)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>112</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">112</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">78</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Gross margin</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,794</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2,183</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,635</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Operations, maintenance and administration (Note 6)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>655</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">539</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">521</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Depreciation and amortization (Note 19, 20, 21 and 27)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>531</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">621</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">599</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Asset impairment charges (reversals) (Note 7)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>46</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(48</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;29</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Net other operating
income (Note 8)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(59</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(47</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(58</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Operating income</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>585</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,089</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">531</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Equity income (Note 9)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Finance lease income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Interest income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">59</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Interest expense (Note 10)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(324</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(281</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(286</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Foreign exchange gain (loss)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Gain on sale of
assets and other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Earnings before income taxes</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">880</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Income tax expense
(Note 11)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">84</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">192</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Net earnings</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>239</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">796</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">161</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">&#8199;Net earnings attributable
to:</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8195;&#8194;TransAlta shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>229</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">695</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT
STYLE="white-space:nowrap">&#8195;&#8194;Non-controlling</FONT> interests (Note 12)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">101</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">111</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>239</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">796</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">161</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Net earnings attributable to TransAlta shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>229</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">695</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Preferred share
dividends (Note 29)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">51</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Net earnings attributable to common shareholders</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>177</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">644</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Weighted average number of common shares
outstanding in the year (</B><B><I>millions</I></B><B>)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>302</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">276</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">271</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net earnings per share attributable to
common shareholders, basic and diluted (Note 28)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.59</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2.33</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.01</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><I>See accompanying notes. </I></FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F9</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Consolidated&nbsp;Statements&nbsp;of&nbsp;Comprehensive&nbsp;Income&nbsp;(Loss) </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(in millions of Canadian dollars)&#8195; </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="71%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2022</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#43c5e4"><B>&#8199;Net earnings</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>239&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">796</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">161</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">&#8199;Other comprehensive income
(loss)</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net actuarial gains (losses) on defined benefit plans, net of tax<SUP
STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fair value loss on third-party investments,
net of tax</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#43c5e4"><B>&#8199;Total items that will not be reclassified subsequently to net earnings</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gains (losses) on translating net assets of foreign operations, net of
tax</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">(Losses) gains on financial instruments designated as hedges of foreign
operations, net of tax<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&#8201;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gains (losses) on derivatives designated as cash flow hedges, net of tax<SUP
STYLE="font-size:75%; vertical-align:top">(3) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>213&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(556</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Reclassification of (gains) losses on
derivatives designated as cash flow hedges&nbsp;to net earnings, net of tax<SUP STYLE="font-size:75%; vertical-align:top">(4) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&#8201;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">58</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#43c5e4"><B>&#8199;Total items that will be reclassified subsequently to net earnings</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;196&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">(460</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#43c5e4"><B>&#8199;Other comprehensive income (loss)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>205&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">97</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">(424</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#43c5e4"><B>&#8199;Total comprehensive income (loss)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>444&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">893</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">(263</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">&#8199;Total comprehensive income (loss) attributable
to:</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">TransAlta shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>434&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">817</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(318</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests (Note 12)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">76</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>444&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">893</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(263</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Net of income tax expense of $3&nbsp;million for the year ended Dec. 31, 2024 (2023 &#8212;
$1&nbsp;million recovery, 2022 &#8212; $12&nbsp;million expense).</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Net of income tax recovery of $4&nbsp;million for the year ended Dec. 31, 2024 (2023 &#8212;
$1&nbsp;million expense, 2022 &#8212; $3&nbsp;million recovery).</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Net of income tax expense of $57&nbsp;million for the year ended Dec. 31, 2024 (2023 &#8212;
$10&nbsp;million expense, 2022 &#8212; $138&nbsp;million recovery).</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Net of reclassification of income tax recovery of $4&nbsp;million for the year ended Dec. 31, 2024
(2023 &#8212; $17&nbsp;million expense, 2022 &#8212; $26&nbsp;million expense).</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466"><I>See accompanying notes. </I></FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F10&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Consolidated Financial Statements </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Consolidated Statements of Financial Position&#8195; </B></FONT></P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(in millions of Canadian dollars)&#8195; </FONT></P> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="82%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2024&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2023&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Current assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Cash and cash equivalents</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>337&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">348&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Restricted cash (Note 25)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>69&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">69&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Trade and other receivables (Note 13)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>767&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">807&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Prepaid expenses and other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>68&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">48&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Risk management assets (Note 14 and 15)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>318&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">151&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Inventory (Note 16)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>134&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">157&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Assets held for
sale (Note 4 and 18)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,773&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,580&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">&#8199;Non-current</FONT> assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Investments (Note 9)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>159&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">138&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Long-term portion of finance lease receivables (Note 17)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>305&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">171&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Risk management assets (Note 14 and 15)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>93&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">52&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Property, plant and equipment (Note 19)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,020&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5,714&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#8199;Right-of-use</FONT></FONT>
assets (Note 20)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>120&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">117&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Intangible assets (Note 21)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>281&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">223&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Goodwill (Note 22)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>517&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">464&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Deferred income tax assets (Note 11)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>52&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">21&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Other assets
(Note 23)&#8199;</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>179&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">179&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8199;Total
assets</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9,499&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8,659&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Current liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Bank overdraft</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Accounts payable, accrued liabilities and other current liabilities (Note
13)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>756&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">809&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Current portion of decommissioning and other provisions (Note
24)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>83&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">35&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Risk management liabilities (Note 14 and 15)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>277&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">314&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Dividends payable (Note 28 and 29)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>49&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">49&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Exchangeable securities (Note 3 and 26)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>750&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Contingent consideration payable (Note 4)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>81&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Current portion
of long-term debt and lease liabilities (Note 25)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>572&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">532&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,569&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,742&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">&#8199;Non-current</FONT> liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Credit facilities, long-term debt and lease liabilities (Note
25)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,236&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,934&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Exchangeable securities (Note 3 and 26)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">744&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Decommissioning and other provisions (Note 24)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>850&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">654&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Deferred income tax liabilities (Note 11)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>470&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">386&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Risk management liabilities (Note 14 and 15)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>305&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">274&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Contract liabilities (Note 5)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>24&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Defined benefit obligation and other long-term liabilities (Note
27)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>202&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">251&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Equity&#8199;</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Common shares (Note 28)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,179&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,285&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Preferred shares (Note 29)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>942&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">942&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Contributed surplus</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>42&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">41&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Deficit</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2,458)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(2,567)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8199;Accumulated
other comprehensive income (loss) (Note 30)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>41&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(164)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8199;Equity attributable to shareholders</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,746&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,537&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><FONT
STYLE="white-space:nowrap">&#8199;Non-controlling</FONT> interests (Note 12)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>97&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">127&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8199;Total
equity</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,843&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,664&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8199;Total
liabilities and equity</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9,499&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8,659&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Commitments and contingencies (Note 37) </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><I>See accompanying notes.</I>&#8195; </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="23%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">


<IMG SRC="g938159g76g76.jpg" ALT="LOGO" STYLE="width:0.971429in;height:0.474286in;">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">


<IMG SRC="g938159g77g77.jpg" ALT="LOGO" STYLE="width:2.295in;height:0.62in;">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">John P. Dielwart</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Thomas M. O&#8217;Flynn</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">On behalf of the Board:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466">Director</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT COLOR="#636466">Chair of Audit, Finance and Risk&nbsp;Committee</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F11</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Consolidated Statements of Changes in Equity&#8195; </B></FONT></P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(in millions of Canadian dollars)&#8195; </FONT></P> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="48%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Common<BR>shares</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Preferred<BR>shares</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Contributed</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>surplus</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Deficit</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Accumulated&nbsp;other<BR>comprehensive<BR>income (loss)<SUP STYLE="font-size:75%; vertical-align:top">(1)
</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Attributable&nbsp;to<BR>shareholders</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Attributable</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>to non-</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>controlling</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>interests</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Balance, Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,863</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">942</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(2,514</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(222</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,110</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">879</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,989</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net earnings</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">695</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">695</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">101</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">796</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Other comprehensive income (loss):</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net gains on translating net assets of foreign operations, net of hedges and of tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net gains on derivatives designated as cash flow hedges, net of tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">99</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">99</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">99</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net actuarial losses on defined benefits plans, net of&nbsp;tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Intercompany and third-party FVTOCI investments</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total comprehensive
income</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">695</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">122</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">817</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">76</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">893</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Common share dividends (Note&nbsp;28)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(65</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(65</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(65</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Preferred share dividends (Note&nbsp;29)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(51</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(51</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(51</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Shares purchased under normal course issuer bid (NCIB) (Note&nbsp;28)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(80</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(87</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(87</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Changes in <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests in TransAlta Renewables
(Note&nbsp;4)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">510</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(625</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(64</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(179</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(630</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(809</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Provision for repurchase of shares under the automatic share purchase plan (Note&nbsp;28)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Share-based payment plans and stock options exercised (Note&nbsp;31)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Distributions declared to
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests (Note&nbsp;12)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(198</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(198</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Balance, Dec. 31, 2023</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,285</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">942</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(2,567</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(164</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,537</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">127</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,664</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net earnings</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>229</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>229</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>239</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Other comprehensive income:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net gains on translating net assets of foreign operations, net of hedges and tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net gains on derivatives designated as cash flow hedges, net of tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>194</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>194</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>194</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net actuarial gains on defined benefits plans, net
of&nbsp;tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total comprehensive
income</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>229</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>205</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>434</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>444</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Common share dividends (Note 28)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(71</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(71</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(71</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Preferred share dividends (Note 29)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Shares purchased NCIB (Note 28)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(146</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reversal of provision for repurchase of shares under the automatic share purchase plan
(Note&nbsp;28)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Share-based payment plans and stock options exercised (Note 31)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Distributions declared to
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests (Note&nbsp;12)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Balance, Dec. 31,
2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>942</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2,458</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>41</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,746</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,843</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="92%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:7pt; font-family:arial" ALIGN="justify"><FONT COLOR="#171a5f">(1)&#8194;&#8202;Refer to Note 30 for details on components of and
changes in, accumulated other comprehensive income (loss).</FONT></P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><I>See accompanying notes.</I></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F12&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Consolidated Financial Statements </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Consolidated Statements of Cash Flows </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(in millions of Canadian dollars) </FONT></P> <P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">


<TR>

<TD WIDTH="66%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;2024&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;2023&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;2022&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Operating activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Net earnings</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>239&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">796&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">161&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization (Note 19, 20, 21 and 27)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>531&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">621&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">599&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(32)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Accretion of provisions (Note 10 and 24)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>50&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">48&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">49&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Decommissioning and restoration costs settled (Note 24)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(41)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(37)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(35)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax (recovery) expense (Note 11)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(63)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">34&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">127&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized loss (gain) from risk management activities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(36)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">385&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange gain</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(29)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(9)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(82)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Provisions and contract liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>23&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">19&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges (reversals) (Note 7)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>46&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(48)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">9&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Equity loss (income), net of distributions from investments (Note
9)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(4)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Other <FONT
STYLE="white-space:nowrap">non-cash</FONT> items</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(27)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Cash flow from operations before changes in working
capital</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>758&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,340&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,193&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Change in <FONT
STYLE="white-space:nowrap">non-cash</FONT> operating working capital balances (Note 34)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>38&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">124&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(316)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow from
operating activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>796&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,464&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">877&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Investing activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Additions to property, plant and equipment (Note 4, 19 and 38)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(311)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(875)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(918)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Additions to intangible assets (Note 21 and 38)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(10)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(13)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(31)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Restricted cash (Note 25)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">(Advances) repayment from loan receivable (Note 23)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">11&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">18&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Acquisitions, net of cash acquired (Note 4)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(217)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(10)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Investments (Note 9)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(13)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(10)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Proceeds on sale of property, plant and equipment</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">29&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">66&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Realized gain on financial instruments</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">18&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">27&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>21&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">55&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">46&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>19&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(25)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">45&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Change in <FONT
STYLE="white-space:nowrap">non-cash</FONT> investing working capital balances</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(20)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">26&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow used in
investing activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(520)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(814)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(741)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Financing activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Net increase (decrease) in borrowings under credit facilities (Note 25 and
34)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>143&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(46)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">449&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Repayment of long-term debt (Note 25 and 34)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(131)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(164)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(621)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Issuance of long-term debt (Note 25 and 34)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">39&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">532&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Dividends paid on common shares (Note 28)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(71)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(58)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(54)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Dividends paid on preferred shares (Note 29)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(52)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(51)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(43)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Repurchase of common shares under NCIB (Note 28)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(143)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(87)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(52)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Proceeds on issuance of common shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Realized gain (loss) on financial instruments</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(30)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">42&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Acquisition of TransAlta Renewables (Note 4)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(811)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Distributions paid to subsidiaries&#8217;
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests (Note 12)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(223)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(187)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Decrease in lease liabilities (Note 25 and 34)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(6)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(10)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(9)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Financing fees and other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(13)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Change in <FONT
STYLE="white-space:nowrap">non-cash</FONT> financing working capital balances</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(6)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow (used
in) from financing activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(291)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1,432)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">45&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow (used in) from operating, investing and
financing activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(15)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(782)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">181&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Effect of
translation on foreign currency cash</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(4)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">6&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>(Decrease) increase in cash and cash
equivalents</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(11)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(786)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">187&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash and cash
equivalents, beginning of year</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>348&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,134&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">947&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash and cash
equivalents, end of year</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>337&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">348&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,134&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Cash taxes paid</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>104&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">94&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">67&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Cash interest paid</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>269&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">277&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">229&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Cash interest
received</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">54&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">20&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><I>See accompanying notes. </I></FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F13</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:30pt; font-family:arial"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements </B></FONT></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(Tabular amounts in millions of Canadian dollars, except as otherwise noted) </FONT></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>1. Corporate Information </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Description of the Business </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta Corporation (TransAlta or the Company) was incorporated under the <I>Canada Business Corporations Act </I>in March 1985
and became a public company in December 1992. The Company&#8217;s head office is located in Calgary, Alberta. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Operating Segments
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Generation Segments </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is comprised of four generation segments: Hydro, Wind and Solar, Gas, and Energy Transition. The Company directly or
indirectly owns and operates hydro, wind and solar and, natural <FONT STYLE="white-space:nowrap">gas-fired</FONT> facilities, along with a coal-fired facility and natural gas pipeline operations in Canada, the United States (U.S.) and Western
Australia. Transmission in Canada and Western Australia is included within the Hydro and Gas segments in Canada and Western Australia, respectively. The Wind and Solar segment includes the financial results, on a proportionate basis, of our
investment in SP Skookumchuck Investment, LLC (Skookumchuck). Segment revenues are derived from the availability and production of electricity and steam as well as ancillary services. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Energy Marketing Segment </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Energy Marketing segment derives revenue and earnings from the trading of electricity, natural gas and environmental products across a variety of North American markets, excluding Alberta. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Energy Marketing segment also performs services on behalf of certain assets outside of Alberta for the marketing of available
generating capacity as well as the procurement of the fuel and transmission needs for the fleet. Contracts of various durations for the forward sales of electricity and for the purchase of natural gas and transmission capacity are utilized. The
results of these activities are included in the gross margin of the related generation segment. The Energy Marketing segment allocates charges to recognize the performance of these activities to the applicable generation segments.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Corporate Segment </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Corporate segment includes the Company&#8217;s central finance, legal, administrative, corporate development, and investor
relations functions. Activities and charges directly or reasonably attributable to other segments are allocated to it. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Basis of
Preparation </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These Consolidated Financial Statements have been prepared by management in compliance with
International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Consolidated Financial Statements have been prepared on a historical cost basis except for financial instruments, which are measured at fair value, as explained in the following accounting policies. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These Consolidated Financial Statements were authorized for issue by TransAlta&#8217;s Board of Directors (the Board) on
Feb.&nbsp;19, 2025. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Basis of Consolidation </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Consolidated Financial Statements include the accounts of the Company and the subsidiaries that it controls. Control exists when
the Company is exposed, or has rights, to variable returns from its involvement with the subsidiary and has the ability to affect the returns through its power over the subsidiary. The financial statements of the subsidiaries are prepared for the
same reporting period and apply consistent accounting policies as the parent company. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F14&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>2. Material Accounting Policies </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has reviewed its material accounting policies. The definition of material
that management has used to judgmentally determine disclosure is that information is deemed material if omitting or misstating it could influence decisions users make on the basis of financial&nbsp;information. </FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Revenue Recognition </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I.&nbsp;Revenue&nbsp;from&nbsp;Contracts&nbsp;with&nbsp;Customers </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The majority of the Company&#8217;s revenues from contracts with customers are derived from the sale of generation capacity,
electricity, thermal energy, environmental attributes and byproducts of power generation. The Company evaluates whether the contracts it enters into meet the definition of a contract with a customer at the inception of the contract and on an ongoing
basis if there is an indication of significant changes in facts and circumstances. Contract modifications are accounted for as separate contracts when the consideration for the additional promised goods reflects a stand-alone selling price.
Otherwise, contract modifications are accounted for as part of the existing contract. If the additional goods are not considered distinct the transaction price can be affected and adjustments to previously recognized revenue can occur. If the
additional goods are distinct, the existing and modified contracts are treated together as a new contract, with impacts reflected prospectively from the modification date, which can include the blending of contract prices. Revenue is measured based
on the transaction price specified in a contract with a customer. Revenue is recognized when the control of the goods or services is transferred to the customer. For certain contracts, revenue may be recognized at the invoiced amount, as permitted
using the invoice practical expedient, if such amount corresponds directly with the Company&#8217;s performance to date. The Company excludes amounts collected on behalf of third parties from revenue.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Performance Obligations </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Each promised good or service is accounted for separately&nbsp;as a performance obligation if it is distinct.
The&nbsp;Company&#8217;s contracts may contain more than one performance&nbsp;obligation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Transaction Price </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company allocates the transaction price in the contract to each performance obligation. The transaction price allocated to
performance obligations may include variable consideration. Variable consideration is included in the transaction price for each performance obligation when it is highly probable that a significant reversal of the cumulative variable revenue will
not occur. Variable consideration that has previously been constrained is assessed at each reporting period to determine whether the constraint is lifted. The consideration contained in some of the Company&#8217;s contracts with customers is
primarily variable and may include both variability in quantity and pricing, such as: revenues can be dependent upon future production volumes that are driven by customer or market demand or by the operational ability of a plant; revenues can be
dependent upon the variable cost of producing energy; revenues can be dependent upon market prices; and revenues can be subject to various indices and&nbsp;escalators. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">When multiple performance obligations are present in a contract, the transaction price is allocated to each performance obligation
in an amount that depicts the consideration the Company expects to be entitled to in exchange for transferring the good or service. The Company estimates the amount of the transaction price to allocate to individual performance obligations based on
their relative stand-alone selling prices, which is primarily estimated based on the amounts that would be charged to customers under similar market conditions.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F15</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Recognition </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The nature, timing of recognition of satisfied performance obligations and payment terms for the Company&#8217;s goods and services
are described below: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="14%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="84%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#171a5f"><B>&#8201;Good&nbsp;or&nbsp;service</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#171a5f"><B>Description</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466"><B><I>&#8201;Capacity</I></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Capacity refers to the availability of an asset to deliver goods or
services. Customers typically pay for capacity for each defined time period (e.g., monthly) in an amount representative of the availability of the asset for the defined time period. Obligations to deliver capacity are satisfied over time and revenue
is recognized using a time-based measure. Contracts for capacity are typically long-term in nature and payments are typically received on a monthly&nbsp;basis.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466"><B><I>&#8201;Contract power</I></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The sale of contract power refers to the delivery of units of
electricity to a customer under the terms of a contract. Customers pay a contractually specified price for the output at the end of predefined contractual periods (e.g., monthly). Obligations to deliver electricity are satisfied over time and
revenue is recognized using a units-based output measure (i.e., megawatt hours). Contracts for power are typically long-term in nature and payments are typically received on a monthly basis.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466"><B><I>&#8201;Thermal&nbsp;energy</I></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Thermal energy refers to the delivery of units of steam to a
customer under the terms of a contract. Customers pay a contractually specified price for the output at the end of predefined contractual periods (e.g., monthly). Obligations to deliver steam are satisfied over time and revenue is recognized using a
units-based output measure (i.e., gigajoules). Contracts for thermal energy are typically long-term in nature and payments are typically received on a monthly basis.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466"><B><I>&#8201;Environmental<BR>&#8201;attributes</I></B></FONT></P></TD>

<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Environmental attributes refers to the delivery of renewable energy
certificates, green attributes and other similar items. Customers may contract for environmental attributes in conjunction with the purchase of power, in which case the customer pays for the attributes in the month subsequent to the delivery of the
power. Alternatively, customers pay upon delivery of the environmental attributes. Obligations to deliver environmental attributes are satisfied at a point in time, generally upon delivery of the item.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466"><B><I>&#8201;Generation<BR>&#8201;byproducts</I></B></FONT></P></TD>

<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Generation byproducts refers to the sale of byproducts from the
use of coal in the Company&#8217;s current U.S. and previous Canadian coal operations. Obligations to deliver byproducts are satisfied at a point in time, generally upon delivery of the item. Payments are received upon satisfaction of delivery of
the byproducts.</FONT></P></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A contract liability is recorded when the Company receives consideration before the
performance obligations have been satisfied. A contract asset is recorded when the Company has rights to consideration for the completion of a performance obligation before it has invoiced the customer. The Company recognizes unconditional rights to
consideration separately as a receivable. Contract assets and receivables are evaluated at each reporting period to determine whether there is any objective evidence that they are impaired. </FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Revenue from Other Sources </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT
 COLOR="#43c5e4"><B>Merchant Revenue </B></FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Revenues from <FONT STYLE="white-space:nowrap">non-contracted</FONT> capacity
(i.e., merchant) include energy payments, at market price, for each MWh produced and are recognized upon delivery.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Lease Revenue </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In certain situations, a long-term electricity or thermal sales contract may contain, or be considered, a lease. Revenues associated
with <FONT STYLE="white-space:nowrap">non-lease</FONT> elements are recognized as goods or services revenues as outlined above. Where the terms and conditions of the contract result in the customer assuming the principal risks and rewards of
ownership of the underlying asset, the contractual arrangement is considered a finance lease, which results in the recognition of finance lease income. Where the Company retains the principal risks and rewards, the contractual arrangement is an
operating lease. Rental income, including contingent rents where applicable, is recognized over the term of the&nbsp;contract.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F16&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Revenue from Derivatives </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Commodity risk management activities involve the use of derivatives such as physical and financial swaps, forward sales contracts,
futures contracts and options, which are used to earn revenues and gain market information. The Company also enters into contracts for differences and Virtual Power Purchase Agreements (VPPA). Contracts for differences are financial contracts
whereby the Company receives a fixed price per MWh and pays the prevailing real-time energy market price per MWh. With a VPPA, the Company receives the difference between the fixed contract price per MWh and the settled market price. These
arrangements meet the definition of a derivative and judgment is applied to determine if the contract meets the &#8220;own use&#8221; exemption or if derivative treatment is&nbsp;required. </FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These derivatives are accounted for using fair value accounting. The initial recognition and subsequent changes in fair value affect
reported net earnings in the period the change occurs and are presented on a net basis in revenue. The fair values of instruments that remain open at the end of the reporting period represent unrealized gains or losses and are presented on the
Consolidated Statements of Financial Position as risk management assets or liabilities. Some of the derivatives used by the Company in trading activities are not traded on an active exchange or have terms that extend beyond the time period for which
exchange-based quotes are available. The fair values of these derivatives are determined using internal valuation techniques or models. </FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Financial Instruments and Hedges </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>I. Financial Instruments </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Classification and Measurement </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">IFRS 9 introduced the requirement to classify and measure financial assets based on their contractual cash flow characteristics and
the Company&#8217;s business model for the financial asset. All financial assets and liabilities, including derivatives, are recognized at fair value on the Consolidated Statements of Financial Position when the Company becomes party to the
contractual provisions of a financial instrument or <FONT STYLE="white-space:nowrap">non-financial</FONT> derivative contract. Financial assets must be classified and measured at either amortized cost, at fair value through profit or loss (FVTPL),
or at fair value through other comprehensive income (loss) (FVTOCI). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Financial assets with contractual cash flows
arising on specified dates, consisting solely of principal and interest, and that are held within a business model whose objective is to collect the contractual cash flows, are subsequently measured at amortized cost. Financial assets measured at
FVTOCI are those that have contractual cash flows, arising on specific dates, consisting solely of principal and interest, and that are held within a business model whose objective is to collect the contractual cash flows and to sell the financial
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
asset and investments in equity instruments. All other financial assets are subsequently measured at&nbsp;FVTPL. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Financial liabilities are classified as FVTPL when the financial liability is held for trading. All other financial liabilities are
subsequently measured at amortized cost. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Funds received under tax equity investment arrangements are classified as
long-term debt. These arrangements are used in the U.S. where project investors acquire an equity investment in a project entity, and in return for their investment, are allocated substantially all of the earnings, cash flows and tax benefits (such
as production tax credits, investment tax credits, accelerated tax depreciation, as applicable) until they have achieved the agreed upon target rate of return. Once achieved, the arrangements flip, with the Company then receiving the majority of
earnings, cash flows and tax benefits. At that time, the tax equity investor&#8217;s investment is subsequently considered residual equity ownership, with distributions classified as <FONT STYLE="white-space:nowrap">non-controlling</FONT> interest.
In applying the effective interest method to tax equity financings, the Company has made an accounting policy choice to recognize the impacts of the tax attributes in net interest&nbsp;expense. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company enters into a variety of derivative financial instruments to manage its exposure to commodity price risk, interest rate
risk and foreign currency exchange risk, including fixed price financial swaps, long-term physical power sale contracts, foreign exchange forward contracts, interest rate swap contracts, and designating foreign currency debt as a hedge of net
investments in foreign operations. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Derivatives are initially recognized at fair value at the date the derivative
contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognized in net earnings immediately, unless the derivative is designated and effective as a hedging
instrument, in which case the timing of the recognition in net earnings is dependent on the nature of the hedging&nbsp;relationship. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Derivatives embedded in <FONT STYLE="white-space:nowrap">non-derivative</FONT> host contracts that are not financial assets within the scope of IFRS 9 (e.g., financial liabilities) are treated as separate derivatives when they meet
the definition of a derivative, their risks and characteristics are not closely related to those of the host contracts and the host contracts are not measured at FVTPL. Derivatives embedded in hybrid contracts that contain financial asset hosts
within the scope of IFRS 9 are not separated, and the entire contract is measured at either FVTPL or amortized cost, as appropriate. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Financial assets are derecognized when the contractual rights to receive cash flows expire. Financial liabilities are
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F17</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
derecognized when the obligation is discharged, cancelled or expired. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Financial assets are also derecognized when the Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows to a third party under a &#8220;pass-through&#8221;
arrangement and either transferred substantially all the risks and rewards of the asset, or transferred control of the asset. TransAlta will continue to recognize the asset and any associated liability if it retains substantially all of the risks
and rewards of the asset, or retains control of the asset. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of
consideration that TransAlta could be required to repay. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Financial assets and liabilities are offset and the net amount
is reported in the Consolidated Statements of Financial Position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis or realize the assets and settle the liabilities
simultaneously. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Transaction costs are expensed as incurred for financial instruments classified or designated as FVTPL.
For other financial instruments, such as debt instruments, transaction costs are recognized as part of the carrying amount of the financial instrument. The Company uses the effective interest method of amortization for any transaction costs or fees,
premiums or discounts earned or incurred for financial instruments measured at amortized&nbsp;cost. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Impairment of Financial Assets
</B></FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta recognizes an allowance for expected credit losses for financial assets measured at amortized cost as well
as certain other instruments. The loss allowance for a financial asset is measured at an amount equal to the lifetime expected credit loss if its credit risk has increased significantly since initial recognition or if the financial asset is a
purchased or originated credit-impaired financial asset. If the credit risk on a financial asset has not increased significantly since initial recognition, its loss allowance is measured at an amount equal to the
<FONT STYLE="white-space:nowrap">12-month</FONT> expected credit loss. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For trade receivables, lease receivables and
contract assets recognized under IFRS 15, TransAlta applies a simplified approach for measuring the loss allowance. Therefore, the Company does not track changes in credit risk but instead recognizes a loss allowance at an amount equal to the
lifetime expected credit losses at each reporting date. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The assessment of the expected credit loss is based on
historical data and adjusted by forward-looking information that includes third-party default rates over time, dependent on credit&nbsp;ratings.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Hedges </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Where hedge accounting can be applied and the Company chooses to seek hedge accounting treatment, a hedge relationship is designated
as a fair value hedge, a cash flow hedge or a hedge of foreign currency exposures of a net investment in a foreign operation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">A relationship qualifies for hedge accounting if, at inception, it is formally designated and documented as a hedge and the hedging instrument and the hedged item have values that generally move in opposite direction because of the
hedged risk. The documentation includes identification of the hedging instrument and hedged item or transaction, the nature of the risk being hedged, the Company&#8217;s risk management objectives and strategy for undertaking the hedge and how hedge
effectiveness will be assessed. The process of hedge accounting includes linking derivatives to specific recognized assets and liabilities or to specific firm commitments or highly probable anticipated transactions. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company formally assesses, both at the hedge&#8217;s inception and on an ongoing basis, whether the derivatives used are highly
effective in offsetting changes in fair values or cash flows of hedged items. If hedge criteria are not met or the Company does not apply hedge accounting, the derivative is recognized at fair value on the Consolidated Statements of Financial
Position, with subsequent changes in fair value recorded in net earnings in the period of change. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Fair Value Hedges </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In a fair value hedging relationship, the carrying amount of the hedged item is adjusted for changes in fair value attributable to
the hedged risk, with the changes being recognized in net earnings. Changes in the fair value of the hedged item, to the extent that the hedging relationship is effective, are offset by changes in the fair value of the hedging derivative, which is
also recorded in net earnings. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For fair value hedges relating to items carried at amortized cost, any adjustment to
carrying value is amortized through profit or loss over the remaining term of the hedge using the effective interest rate (EIR) method. The EIR amortization may begin as soon as an adjustment exists and no later than when the hedged item ceases to
be adjusted for changes in its fair value attributable to the risk being hedged. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">If the hedged item is derecognized, the
unamortized fair value is recognized immediately in net earnings. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash Flow Hedges </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In a cash flow hedging relationship, the effective portion of the change in the fair value of the hedging derivative is recognized
in other comprehensive income (loss) (OCI) while any ineffective portion is recognized in net earnings. The cash flow hedge reserve is adjusted to the lower of
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F18&#8195;</B></FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">the cumulative gain or loss on the hedging instrument and the cumulative change in
fair value of the hedged item. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">If cash flow hedge accounting is discontinued, the amounts previously recognized in
accumulated other comprehensive income (loss) (AOCI) must remain in AOCI if the hedged future cash flows are still expected to occur. Otherwise, the amount will be immediately reclassified to net earnings as a reclassification adjustment. After
discontinuation, once the hedged cash flow occurs, any amount remaining in AOCI must be accounted for depending on the nature of the underlying transaction. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT
 COLOR="#43c5e4"><B>Hedges of Foreign Currency Exposures of a Net Investment in a Foreign Operation </B></FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">When hedging the
foreign currency exposure of a net investment in a foreign operation, the effective portion of foreign exchange gains and losses on the hedging instrument is recognized in OCI and the ineffective portion is recognized in net earnings. The related
fair values are recorded in risk management assets or liabilities, as appropriate. The amounts previously recognized in AOCI are recognized in net earnings when there is a reduction in the hedged net investment as a result of a disposal, partial
disposal or loss of control. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Cash and Cash Equivalents </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash and cash equivalents comprises cash and highly liquid investments with original maturities of three months or less.
</FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>D. Inventory </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Fuel </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Company&#8217;s inventory balance is composed of coal and natural gas used as fuel, which is measured at the lower of weighted average cost and net realizable value. The cost of natural gas and purchased coal inventory includes all applicable
expenditures and charges incurred in bringing the inventory to its existing condition and location. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Energy Marketing
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Commodity inventories held in the Energy Marketing segment for trading purposes are measured at fair value less
costs to sell. Changes in fair value less costs to sell are recognized in net earnings in the period of change. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>III. Parts,
Materials and Supplies </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Parts, materials and supplies are recorded at the lower of cost and measured at moving
average costs and net realizable value. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>IV. Emission Credits and Allowances </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Emission credits and allowances are recorded as inventory at cost. Those purchased for use by the Company are recorded at cost and
are carried at the lower of weighted average cost and net realizable value. For emission credits that are not ordinarily interchangeable, the Company records the credits using the specific identification method. Credits granted to or internally
generated by, TransAlta are recorded at nil. Emission liabilities are recorded at the estimated compliance cost required by the Company to settle its obligation in excess of government-established caps and targets. Compliance costs that are
recoverable under the terms of the contracts with third parties are recognized as revenue from contracts with&nbsp;customers. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Emission credits and allowances that are held for trading and that meet the definition of a derivative are accounted for using the fair value method of accounting. Emission credits and allowances that do not satisfy the criteria of
a derivative are accounted for using the accrual method. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>E. Property, Plant and Equipment </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s investment in property, plant and equipment (PP&amp;E) is initially measured at the original cost of each
component at the time of construction, purchase or acquisition. A component is a tangible portion of an asset that can be separately identified and depreciated over its own expected useful life and is expected to provide a benefit for a period in
excess of one year. Original cost includes items such as materials, labour, borrowing costs and other directly attributable costs, including the initial estimate of the cost of decommissioning and restoration. Costs are recognized as PP&amp;E if it
is probable that future economic benefits will be realized and the cost of the item can be measured reliably. The cost of major spare parts is capitalized and classified as PP&amp;E, as these items can only be used in connection with an item of
PP&amp;E. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Planned maintenance is performed at regular intervals. Planned major maintenance includes inspection, repair
and maintenance of existing components and the replacement of existing components. Costs incurred for planned major maintenance activities are capitalized in the period maintenance activities occur and are amortized on a straight-line basis over the
term until the next major maintenance event. Expenditures incurred for the replacement of components during major maintenance are capitalized and amortized over the estimated useful life of such components. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The cost of routine repairs and maintenance and the replacement of minor parts is charged to net earnings as incurred. Subsequent to
initial recognition and measurement at cost, all classes of PP&amp;E continue to be measured using the cost model and are reported at cost
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F19</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
less accumulated depreciation and impairment losses, if&nbsp;any. An item of PP&amp;E or a component is derecognized upon disposal or when no future economic benefits are expected from its use or
disposal. Any gain or loss arising on derecognition is included in net earnings when the asset is derecognized. The estimate of the useful life of each component of PP&amp;E is based on current facts and past experience and takes into consideration
existing long-term sales agreements and contracts, current and forecasted demand and the potential for technological obsolescence. The useful life is used to estimate the rate at which the component of PP&amp;E is depreciated. PP&amp;E assets are
subject to depreciation when the asset is considered to be available for use, which is typically at the start of commercial operations. Insurance spares that are designated as critical for uninterrupted operation in a particular facility are
depreciated over the life of that facility, even if the item is not in service. Capital spares begin to be depreciated when the item is put into service. Each significant component of an item of PP&amp;E is depreciated to its residual value over its
estimated useful life, generally using straight-line or <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">unit-of-production</FONT></FONT> methods. Estimated useful lives, residual values and depreciation methods are reviewed
annually and are subject to revision based on new or additional information. The effect of a change in useful life, residual value or depreciation method is accounted for prospectively. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Estimated remaining useful lives of the components of depreciable assets, categorized by asset class, are as&nbsp;follows:
</FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">&#8201;Hydro generation</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">1-48</FONT> years&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">&#8201;Wind and Solar generation</FONT></P></TD>

<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">1-30</FONT> years&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">&#8201;Gas generation</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">1-33</FONT> years&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">&#8201;Energy Transition</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">1-9</FONT> years&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">&#8201;Capital spares and
other</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">1-48</FONT> years&#8201;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta capitalizes borrowing costs on capital invested in projects under construction. Upon
commencement of commercial operations, capitalized borrowing costs, as a portion of the total cost of the asset, are depreciated over the estimated useful life of the related asset. </FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>F. Intangible Assets </B></FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Intangible assets acquired in a business combination are recognized separately from goodwill at their fair value at the date of acquisition. Intangible assets acquired separately are recognized at cost. Internally generated
intangible assets arising from development projects are recognized when certain criteria related to the feasibility of internal use or sale and probable future economic benefits of the intangible asset, are demonstrated. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Intangible assets are initially recognized at cost, which is composed of all directly attributable costs necessary to create,
produce and prepare the intangible asset to be
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
capable of operating in the manner intended by management. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Software-as-a-service,</FONT></FONT></FONT> such as cloud based software, that do not meet the criteria of an intangible asset are expensed as incurred,
including implementation costs. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Subsequent to initial recognition, intangible assets continue to be measured using the
cost model and are reported at cost less accumulated amortization and impairment losses, if any. Amortization is included in depreciation and amortization in the Consolidated Statements of Earnings. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Amortization commences when the intangible asset is available for use and is computed on a straight-line basis over the intangible
asset&#8217;s estimated useful life. Estimated useful lives of intangible assets may be determined, for example, with reference to the term of the related contract or licence agreement. The estimated useful lives and amortization methods are
reviewed annually with the effect of any changes being accounted for prospectively. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Intangible assets consist of power
sale contracts with fixed prices higher than market prices at the date of acquisition, software and intangibles under development. Estimated remaining useful lives of intangible assets are as follows: </FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">&#8201;Software</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">1-7</FONT> years&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">&#8201;Power sale contracts</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">1-17</FONT> years&#8201;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>G. Impairment of Tangible and Intangible Assets Excluding Goodwill </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At the end of each reporting period, the Company assesses whether there is any indication that PP&amp;E and finite life intangible
assets are impaired. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Factors that could indicate that an impairment exists include: significant underperformance
relative to historical or projected operating results; significant changes in the manner in which an asset is used, or in the Company&#8217;s overall business strategy; or significant negative industry or economic trends. In some cases, these events
are clear. However, in many cases, a clearly identifiable event indicating possible impairment does not occur. Instead, a series of individually insignificant events occur over a period of time leading to an indication that an asset may be impaired.
This can be further complicated in situations where the Company is not the operator of the facility. Events can occur in these situations that may not be known until a date subsequent to their occurrence. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s operations, the market and business environment are routinely monitored and judgments and assessments are made
to determine whether an event has occurred that indicates a possible impairment. If such an event has occurred, an estimate is made of the recoverable amount of the asset or cash-generating unit
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F20&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(CGU) to which the asset belongs. The recoverable amount is the higher of an
asset&#8217;s fair value less costs of disposal and its value in use. Fair value is the price that would be received if the asset was sold in an orderly transaction between market participants at the measurement date. In determining fair value,
recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model such as discounted cash flow is used. Value in use is the present value of the estimated future cash flows expected to be
derived from the asset from its continued use and ultimate disposal by the Company. If the recoverable amount is less than the carrying amount of the asset or CGU, an asset impairment charge is recognized in net earnings and the asset&#8217;s
carrying amount is reduced to its recoverable amount. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At each reporting date, an assessment is made whether there is any
indication that an impairment charge previously recognized may no longer exist or may have decreased. If such indication exists, the recoverable amount of the asset or CGU to which the asset belongs is estimated and, if there has been an increase in
the recoverable amount, the impairment charge previously recognized is reversed. If an impairment charge is subsequently reversed, the carrying amount of the asset is increased to the lesser of the revised estimate of its recoverable amount or the
carrying amount that would have been determined (net of depreciation) had no impairment charge been recognized previously. A reversal of an impairment charge is recognized in net earnings.</FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>H. Goodwill </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Goodwill arising in a business combination is recognized as an asset at the date control is acquired. Goodwill is measured as the
cost of an acquisition plus the amount of any <FONT STYLE="white-space:nowrap">non-controlling</FONT> interest in the acquiree (if applicable) less the fair value of the related identifiable assets acquired and liabilities assumed. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Goodwill is not subject to amortization, but is tested for impairment at least annually, or more frequently, if an analysis of
events and circumstances indicates that a possible impairment may exist. These events could include a significant change in financial position of the CGUs or groups of CGUs to which the goodwill relates or significant negative industry or economic
trends. For impairment purposes, goodwill is allocated to each of the Company&#8217;s CGUs or groups of CGUs that are expected to benefit from the synergies of the business combination in which the goodwill arose. Accordingly, the Company performs
its test for impairment, where the recoverable amount of the CGUs or groups of CGUs to which the goodwill relates is compared to its carrying amount for each operating segment. If the recoverable amount is less than the carrying amount, an
impairment charge is immediately recognized in net earnings, by first reducing the carrying amount of the goodwill and
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
then by reducing the carrying amount of the other assets in the unit. An impairment charge recognized for goodwill is not reversed in subsequent periods. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>I. Income Taxes </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company uses the liability method of accounting for income taxes. Under the liability method, deferred income tax assets and liabilities are recognized on the differences between the carrying amounts of assets and liabilities
and their respective income tax basis (temporary differences). A deferred income tax asset may also be recognized for the benefit expected from unused tax credits and losses available for carryforward, to the extent that it is probable that future
taxable earnings will be available against which the tax credits and losses can be applied. Deferred income tax assets and liabilities are measured based on income tax rates and tax laws that are enacted or substantively enacted by the end of the
reporting period and that are expected to apply in the years in which temporary differences are expected to be realized or settled. Deferred income tax is charged or credited to net earnings, except when related to items charged or credited to
either OCI or directly to equity. The carrying amount of deferred income tax assets is evaluated at the end of each reporting period and is reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow
all or part of the asset to be realized. Unrecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable income will allow the deferred income tax asset to be
recovered. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Deferred income tax liabilities are recognized for taxable temporary differences arising on investments in
subsidiaries, except where the Company is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future.</FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash taxes paid disclosed on the Consolidated Statements of Cash Flows includes income taxes and taxes paid related to the Part VI.1
tax in Canada for the period. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>J. Employee Future Benefits </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has defined benefit pension and other post-employment benefit plans. The current service cost of providing benefits
under the defined benefit plans is determined using the projected unit credit method prorated based on service. The net interest cost is determined by applying the discount rate to the net defined benefit liability.&nbsp;The discount rate used to
determine the present value of the defined benefit obligation and the net interest cost, is determined by reference to market yields at the end of the reporting
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F21</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
period on high-quality corporate bonds with terms and currencies that match the estimated terms and currencies of the benefit obligations. Remeasurements, which include actuarial gains and losses
and the return on plan assets (excluding net interest), are recognized through OCI in the period in which they occur. Actuarial gains and losses arise from experience adjustments and changes in actuarial assumptions. Remeasurements are not
reclassified to profit or loss, from OCI, in subsequent periods. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Gains or losses arising from either a curtailment or
settlement of a defined benefit plan are recognized when the curtailment or settlement occurs.&nbsp;When the restructuring of a benefit plan gives rise to a curtailment and a settlement of obligations, the curtailment is accounted for before the
settlement. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In determining whether statutory minimum funding requirements of the Company&#8217;s defined benefit pension
plans give rise to recording an additional liability, letters of credit provided by the Company as security are considered to alleviate the funding requirements.&nbsp;No additional liability results in these circumstances. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Contributions payable under defined contribution pension plans are recognized as a liability and an expense in the period in which
the services are rendered. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>K. Provisions </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that the Company will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. A legal obligation can arise through a contract, legislation or other operation of law. A constructive
obligation arises from an entity&#8217;s actions whereby through an established pattern of past practice, published policies or a sufficiently specific current statement, the entity has indicated it will accept certain responsibilities and has thus
created a valid expectation that it will discharge those responsibilities. The amount recognized as a provision is the best estimate, remeasured at each <FONT STYLE="white-space:nowrap">period-end,</FONT> of the expenditures required to settle the
present obligation, considering the risks and uncertainties associated with the obligation. Where expenditures are expected to be incurred in the future, the obligation is measured at its present value using a current market-based, risk-adjusted
discount rate. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company records a decommissioning and restoration provision for all generating facilities and mine
sites for which it is legally or constructively required to remove the facilities at the end of their useful lives and restore the plant or mine sites. For some hydro facilities, the Company is required to remove the generating equipment, but is not
required to remove the structures. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Initial decommissioning provisions are recognized at their present value when
incurred. Each reporting date, the Company determines the present value of the provision using the current discount rates that reflect the time value of money and associated risks. The Company recognizes the initial decommissioning and restoration
provisions, as well as changes resulting from revisions to cost estimates and <FONT STYLE="white-space:nowrap">period-end</FONT> revisions to the market-based, risk-adjusted discount rate, as a cost of the related PP&amp;E (see Note 2(E)) to the
extent the related PP&amp;E asset is still in use. Where the related PP&amp;E asset has reached the end of its useful life, changes in the decommissioning and restoration provision are recognized in net earnings. Where the Company expects to receive
reimbursement from a third party for a portion of future decommissioning costs, the reimbursement is recognized as a separate asset when it is virtually certain that the reimbursement will be&nbsp;received. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Changes in other provisions resulting from revisions to estimates of expenditures required to settle the obligation or <FONT
STYLE="white-space:nowrap">period-end</FONT> revisions to the market-based, risk-adjusted discount rate are recognized in net earnings. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The accretion of the net present value discount for both the decommissioning and restoration provision and other provisions are charged to net earnings each period and is included in net interest expense. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>L. Leases </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Under IFRS 16, a contract contains a lease when the customer obtains the right to control the use of an identified asset for a
period of time in exchange for&nbsp;consideration. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Lessee </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company enters into lease arrangements with respect to land, building and office space, vehicles and site machinery and
equipment. For all contracts that meet the definition of a lease under IFRS 16 in which the Company is the lessee and which are not exempt as short-term or <FONT STYLE="white-space:nowrap">low-value</FONT> leases, the Company: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Recognizes
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> assets and lease liabilities in the Consolidated Statements of Financial Position; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Recognizes depreciation of the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> assets and interest expense on lease liabilities in the Consolidated Statements of Earnings; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Recognizes the principal repayments on lease liabilities as financing activities and interest
payments on lease liabilities as operating activities in the Consolidated Statements of Cash Flows. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For short-term and <FONT STYLE="white-space:nowrap">low-value</FONT> leases, the Company recognizes the lease payments as operating
expenses. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Variable lease payments that do not depend on an index or a rate are not included in the measurement of the
lease </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F22&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">liability and the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> asset and are recognized as an expense in the period in which the event or condition that triggers the payments occurs. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Right-of-use</FONT></FONT> assets are initially measured at an
amount equal to the lease liability and adjusted for any payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset, or to restore the underlying
asset or the site on which it is located, less any lease incentives received. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lease liabilities are initially measured
at the present value of the lease payments that are not paid at commencement and discounted using the Company&#8217;s incremental borrowing rate or the rate implicit in the lease. The lease liability is remeasured when there is a change in future
lease payments arising from a change in an index or rate, or if there is a change in the Company&#8217;s estimate or assessment of whether it will exercise an extension, termination or purchase option. A corresponding adjustment is made to the
carrying amount of the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-</FONT></FONT> use asset, or is recorded in profit or loss if the carrying amount of the <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">right-of-use</FONT></FONT> asset has been reduced to zero. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The lease term includes periods
covered by an option to extend if the Company is reasonably certain to exercise that option and periods covered by an option to terminate if the Company is reasonably certain not to exercise that option. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Right-of-use</FONT></FONT> assets are depreciated over the shorter
period of either the lease term or the useful life of the underlying asset. If a lease transfers ownership of the underlying asset or the cost of the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> asset
reflects that the Company expects to exercise the purchase option, the related <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> asset is depreciated over the useful life of the underlying asset.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has elected to apply the practical expedient that permits a lessee not to separate <FONT
STYLE="white-space:nowrap">non-lease</FONT> components and instead account for any lease and associated <FONT STYLE="white-space:nowrap">non-lease</FONT> components as a single arrangement. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Lessor </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Power Purchase Agreements (PPAs) and other long-term contracts may contain, or may be considered, leases where the fulfillment of
the arrangement is dependent on the use of a specific asset (e.g., a generating unit) and the arrangement conveys to the customer the right to control the use of that asset. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">If the Company determines that the contractual provisions of a contract contain, or are, a lease and result in the customer assuming
the principal risks and rewards of ownership of the asset, the arrangement is a finance lease. Assets subject to finance leases are not reflected as PP&amp;E and the net investment in the lease, represented by the present value of
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
the amounts due from the lessee, is recorded in the Consolidated Statements of Financial Position as a financial asset, classified as a finance lease receivable. The payments considered to be
part of the leasing arrangement are apportioned between a reduction in the lease receivable and finance lease income. The finance lease income element of the payments is recognized using a method that results in a constant rate of return on the net
investment in each period and is reflected in finance lease income on the Consolidated Statements of Earnings. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Where the
Company determines that the contractual provisions of a contract contain, or are, a lease and result in the Company retaining the principal risks and rewards of ownership of the asset, the arrangement is an operating lease. For operating leases, the
asset is, or continues to be, capitalized as PP&amp;E and depreciated over its useful life. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>M.
<FONT STYLE="white-space:nowrap">Non-Controlling</FONT> Interests </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests arise from business combinations in which the Company acquires
less than a 100&nbsp;per cent interest. <FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests are initially measured at either fair value or at the <FONT STYLE="white-space:nowrap">non-controlling</FONT> interest&#8217;s proportionate
share of the acquiree&#8217;s identifiable net assets. The Company determines which measurement is used on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">transaction-by-transaction</FONT></FONT> basis. <FONT
STYLE="white-space:nowrap">Non-</FONT> controlling interests also arise from other contractual arrangements between the Company and other parties, whereby the other party has acquired an equity interest in a subsidiary and the Company retains
control. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Subsequent to acquisition, the carrying amount of <FONT STYLE="white-space:nowrap">non-</FONT> controlling
interests is increased or decreased by the <FONT STYLE="white-space:nowrap">non-</FONT> controlling interest&#8217;s share of subsequent changes in equity and payments to the <FONT STYLE="white-space:nowrap">non-controlling</FONT> interest. Total
comprehensive income (loss) is attributed to the <FONT STYLE="white-space:nowrap">non-</FONT> controlling interests even if this results in the <FONT STYLE="white-space:nowrap">non-</FONT> controlling interests having a negative balance. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">When the proportion of the equity held by <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests changes, the carrying
amounts of the controlling and <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests are adjusted to reflect the changes in their relative interests in the subsidiary. Any difference between the amount by which the <FONT
STYLE="white-space:nowrap">non-</FONT> controlling interests are adjusted and the fair value of the consideration paid or received, is recognized directly in equity and attributed to shareholders. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>N. Joint Arrangements </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">A joint arrangement is a contractual arrangement that establishes the terms by which two or more parties agree to undertake and jointly control an economic activity. The Company&#8217;s joint arrangements are generally classified as
two types: joint operations and joint ventures. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F23</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A joint operation arises when the parties that have joint control have rights to the
assets and obligations for the liabilities relating to the arrangement. Generally, each party takes a share of the output from the asset and each bears an agreed upon share of the costs incurred in respect of the joint operation. The Company reports
its interests in joint operations in its Consolidated Financial Statements using the proportionate consolidation method by recognizing its share of the assets, liabilities, revenues and expenses in respect of its interest in the joint operation.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In a joint venture, the venturers do not have rights to individual assets or obligations of the venture. Rather, each
venturer has rights to the net assets of the arrangement. The Company reports its interests in joint ventures using the equity method. Under the equity method, the investment is initially recognized at cost and the carrying amount is increased or
decreased to recognize the Company&#8217;s share of the joint venture&#8217;s net earnings or loss after the date of acquisition. The impact of transactions between the Company and joint ventures is eliminated based on the Company&#8217;s ownership
interest. Distributions received from joint ventures reduce the carrying amount of the investment. Any excess of the cost of an acquisition less the fair value of the recognized identifiable assets, liabilities and contingent liabilities of an
acquired joint venture is recognized as goodwill and is included in the carrying amount of the investment and is assessed for impairment as part of the investment. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Investments in joint ventures are evaluated for impairment at each reporting date by first assessing whether there is objective
evidence that the investment is impaired. If such objective evidence is present, an impairment charge is recognized if the investment&#8217;s recoverable amount is less than its carrying amount. The investment&#8217;s recoverable amount is
determined as the higher of value in use and fair value less costs of disposal. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>O. Assets Held for Sale </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Assets and disposal groups (assets and liabilities disposed of together) are classified as held for sale if their carrying amount
will be recovered primarily through a sale as opposed to continued use by the Corporation. Assets and disposal groups classified as held for sale are measured at the lower of their carrying amount and fair value less costs of disposal. Any
impairment is recognized in net earnings. Depreciation and equity accounting ceases when an asset or equity investment, respectively, is classified as held for sale. Assets and disposal groups classified as held for sale are reported as current
assets and current liabilities in the Consolidated Statements of Financial Position.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>P. Business Combinations </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Transactions in which the acquisition constitutes a business are accounted for using the acquisition method. Identifiable assets
acquired and liabilities assumed, including contingent consideration, are measured at their acquisition date fair values. A business consists of inputs and processes applied to those inputs that have the ability to contribute to the creation of
outputs. Goodwill is measured as the excess of the fair value of consideration transferred less the fair value of the net assets acquired. Acquisition-related costs to effect the business combination, with the exception of costs to issue debt or
equity securities, are recognized in net earnings as incurred. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The optional fair value concentration test is applied on
a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">transaction-by-transaction</FONT></FONT> basis to permit a simplified assessment of whether an acquired set of activities and assets is not a business. Where substantially all of
the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the Company may elect to treat the acquisition as an asset acquisition and not as a business combination. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Q. Significant Accounting Judgments and Key Sources of Estimation Uncertainty </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The preparation of 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 those 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></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In the process of applying the Company&#8217;s accounting policies, management has to make judgments and estimates about matters
that are highly uncertain at the time the estimate is made and that could significantly affect the amounts recognized in the Consolidated Financial Statements. Different estimates with respect to key variables used in the calculations, or changes to
estimates, could potentially have a material impact on the Company&#8217;s financial position or performance. The key judgments and sources of estimation uncertainty are described below: </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Tariff </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Feb. 1, 2025, the President of the United States issued three executive orders directing the United States to impose new tariffs
on imports originating from Canada, Mexico and China. These orders call for additional 25&nbsp;per cent duty on imports into the United States of Canadian- origin and Mexican-origin products and 10&nbsp;per cent duty
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F24&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">on Chinese-origin products, except for Canadian energy resources that are subject to
an additional 10&nbsp;per cent duty. On Feb. 3, 2025, a <FONT STYLE="white-space:nowrap">30-day</FONT> pause on potential tariffs was implemented. The actual tariffs and their impacts to the Company remain uncertain. The Company is assessing the
direct and indirect impacts to its business of such tariffs, retaliatory tariffs or other trade protectionist measures implemented as this situation develops. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Impairment of PP&amp;E and Goodwill </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Impairment exists when the carrying amount of an asset, CGU or group of CGUs to which goodwill relates exceeds its recoverable
amount, which is the higher of its fair value less costs of disposal and its value in use. An assessment is made at each reporting date as to whether there is any indication that an impairment charge may exist or that a previously recognized
impairment charge may no longer exist or may have decreased. In determining fair value less costs of disposal, information about third-party transactions for similar assets is used and if none is available, other valuation techniques, such as
discounted cash flows, are used. Value in use is computed using the present value of management&#8217;s best estimates of future cash flows based on the current use and present condition of the asset. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In estimating either fair value less costs of disposal or value in use using discounted cash flow methods, estimates and assumptions
must be made about sales prices, cost of sales, production, fuel consumed, capital expenditures, retirement costs and other related cash inflows and outflows over the life of the facilities. In developing these assumptions, management uses estimates
of contracted and future market prices based on expected market supply and demand in the region in which the plant operates, anticipated production levels, planned and unplanned outages, changes to regulations and transmission capacity or
constraints for the remaining life of the facilities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Discount rates are determined by employing a weighted average cost
of capital methodology that is based on capital structure, cost of equity and cost of debt assumptions based on comparable companies with similar risk characteristics and market data as the asset, CGU or group of CGUs subject to the test.&nbsp;These
estimates and assumptions are susceptible to change from period to period and actual results can and often do, differ from the estimates and can have either a positive or negative impact on the estimate of the impairment charge and may be material.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The impairment outcome can also be impacted by the determination of CGUs or groups of CGUs for asset and goodwill
impairment testing. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets and goodwill is allocated to each CGU or group of CGUs that is
expected to benefit from the synergies
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
of the acquisition from which the goodwill arose. The allocation of goodwill is reassessed upon changes in the composition of segments, CGUs or groups of CGUs. To determine CGUs, significant
judgment is required to determine what constitutes independent cash flows between power plants that are connected to the same system. The Company evaluates the market design, transmission constraints and the contractual profile of each facility, as
well as the Company&#8217;s own commodity price risk management plans and practices, in order to inform this determination. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">With regard to the allocation or reallocation of goodwill, significant judgment is required to evaluate synergies and their impacts. The Company evaluates synergies with regard to opportunities from combined talent and
technology,&nbsp;functional organization and future growth potential and considers its own performance measurement processes to make this determination. Information regarding significant judgments and estimates in respect of impairment during 2022
to 2024 is disclosed in Notes 7, 19 and 22. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>III. Leases </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">To determine whether the Company&#8217;s contracts contain, or are, leases, management must use judgment in assessing whether the
contract provides the customer with the right to substantially all of the economic benefits from the use of the asset during the lease term and whether the customer obtains the right to direct the use of the asset during the lease term. For those
agreements considered to contain, or be, leases, further judgment is required to determine the lease term by assessing whether termination or extension options are reasonably certain to be exercised. Judgment is also applied in identifying <FONT
STYLE="white-space:nowrap">in-substance</FONT> fixed payments (included) and variable payments that are based on usage or performance factors (excluded) and in identifying lease and <FONT STYLE="white-space:nowrap">non-lease</FONT> components
(services that the supplier performs) of contracts and in allocating contract payments to lease and <FONT STYLE="white-space:nowrap">non-lease</FONT> components. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For leases where the Company is a lessor, judgment is required to determine if substantially all of the significant risks and
rewards of ownership are transferred to the customer or remain with the Company to appropriately account for the agreement as either a finance or operating lease. These judgments can be significant and impact how the Company classifies amounts
related to the arrangement as either PP&amp;E or as a finance lease receivable on the Consolidated Statements of Financial Position and therefore the amount of certain items of revenue and expense is dependent upon such&nbsp;classifications. In 2024
and 2023, finance lease receivables were recognized, where it was determined that the significant risks and rewards of ownership of the facilities were transferred to the customer. Information regarding finance leases is disclosed in Note 17.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F25</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>IV. Income Taxes </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Preparation of the Consolidated Financial Statements involves determining an estimate of, or provision for, income taxes in each of
the jurisdictions in which the Company operates. The process also involves making an estimate of income taxes currently payable and income taxes expected to be payable or recoverable in future periods, referred to as deferred income taxes. Deferred
income taxes result from the effects of temporary differences due to items that are treated differently for tax and accounting purposes. The tax effects of these differences are reflected in the Consolidated Statements of Financial Position as
deferred income tax assets and liabilities. An assessment must also be made to determine the likelihood that the Company&#8217;s future taxable income will be sufficient to permit the recovery of deferred income tax assets. To the extent that such
recovery is not probable, deferred income tax assets must be reduced. Management uses the Company&#8217;s long-range forecasts as a basis for evaluation of recovery of deferred income tax assets. Management must exercise judgment in its assessment
of continually changing tax interpretations, regulations and legislation to ensure deferred income tax assets and liabilities are complete and fairly presented. Differing assessments and applications than the Company&#8217;s estimates could
materially impact the amounts recognized for deferred income tax assets and liabilities. Information regarding the impacts of the Company&#8217;s tax policies is disclosed in Note 11. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>V. Financial Instruments and Derivatives </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s financial instruments and derivatives are accounted for at fair value, with the initial and subsequent changes
in fair value affecting earnings in the period the change occurs. The fair values of financial instruments and derivatives are classified within three levels, with Level III fair values determined using inputs for the asset or liability that are not
readily observable. Transfers between levels of the fair value hierarchy are deemed to have occurred at the end of the reporting period in which the event or change in circumstances that caused the transfer occurred. These fair value levels are
outlined and discussed in more detail in Note 14. Some of the Company&#8217;s fair values are included in Level&nbsp;III because they are not traded on an active exchange or have terms that extend beyond the time period for which exchange- based
quotes are available and require the use of internal valuation techniques or models to determine fair value. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
determination of the fair value of these contracts and derivative instruments can be complex and relies on judgments and estimates concerning future prices, volatility and liquidity, among other factors. These fair value estimates may not
necessarily be indicative of the amounts that could be realized or settled and changes in these assumptions could affect the reported fair value of financial instruments. Fair values can fluctuate significantly and can be favourable or unfavourable
depending on current market
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
conditions. Judgment is also used in determining whether a highly probable forecasted transaction designated in a cash flow hedge is expected to occur based on the Company&#8217;s estimates of
pricing and production to allow the future transaction to be fulfilled. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">When the Company enters into contracts to buy or
sell <FONT STYLE="white-space:nowrap">non-financial</FONT> items, such as certain commodities, and the contracts can be settled net in cash, the Company must use judgment to evaluate whether such contracts were entered into and continue to be held
for the purposes of the receipt or delivery of the commodity in accordance with the Company&#8217;s expected purchase, sale or usage requirements (i.e., normal purchase and sale). If this assertion cannot be supported, initially at contract
inception and on an ongoing basis, the contracts must be accounted for as derivatives and measured at fair value, with changes in fair value recognized in net earnings. In supporting the normal purchase and sale assertion, the Company considers the
nature of the contracts, the forecasted demand and supply requirements to which the contracts relate and its past practice of net settling other similar contracts, which may taint the normal purchase and sale assertion. The Company also enters into
PPAs and contracts for differences and judgment is applied to determine if the contract meets the &#8220;own use&#8221; exemption or if derivative treatment is required. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>VI. Project Development Costs </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Project development costs are recognized in operating expenses until construction of a facility or acquisition of an investment is likely to occur, there is reason to believe that future costs are recoverable and that efforts will
result in future value to the Company, at which time the costs incurred subsequently are included in PP&amp;E or other assets. The appropriateness of capitalization of these costs is evaluated each reporting period and amounts capitalized for
projects no longer probable of occurring or when there is uncertainty of timing of when the projects will proceed are charged to net earnings. Management is required to use judgment to determine if there is reason to believe that future costs are
recoverable and that efforts will result in future value to the Company when determining the amount to be capitalized. Information regarding project development costs is disclosed in Note 23 and information on the
<FONT STYLE="white-space:nowrap">write-off</FONT> of project development costs is disclosed in Note 7. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>VII. Provisions for
Decommissioning and Restoration Activities </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta recognizes provisions for decommissioning and restoration
obligations as outlined in Note 2(K). 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. The estimated cash expenditures are present valued using a current, risk-adjusted, market-
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F26&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">based, <FONT STYLE="white-space:nowrap">pre-tax</FONT> discount rate. A change in
estimated cash flows, market interest rates or timing could have a material impact on the carrying amount of the provision. Information regarding significant judgments and estimates made during 2022 to 2024 in respect of decommissioning and
restoration provisions is disclosed in Notes 7, 19 and 24. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>VIII. Useful Life of PP&amp;E </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Each significant component of an item of PP&amp;E is depreciated over its estimated useful life. Estimated useful lives are
determined based on current facts and past experience and take into consideration the anticipated physical life of the asset, existing long-term sales agreements and contracts, current and forecasted demand, the potential for technological
obsolescence and regulations. The useful lives of PP&amp;E are reviewed at least annually to ensure they continue to be appropriate. Information on changes in useful lives of facilities is disclosed in Note 19. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>IX. Employee Future Benefits </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company provides pension and other post-employment benefits, such as health and dental benefits, to employees. The cost of providing these benefits is dependent upon many factors, including actual plan experience and estimates
and assumptions about future&nbsp;experience. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The liability for pension and post-employment benefits and associated
costs included in annual compensation expenses are impacted by estimates related to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#9679;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Employee demographics, including age, compensation levels, employment periods, the level of
contributions made to the plans and earnings on plan assets; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#9679;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The effects of changes to the provisions of the plans;&nbsp;and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#9679;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Changes in key actuarial assumptions, including rates of compensation and health-care cost
increases and discount rates. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Due to the complexity of the valuation of pension and post-employment
benefits, a change in the estimate of any one of these factors could have a material effect on the carrying amount of the liability for pension and other post-employment benefits or the related expense. These assumptions are reviewed annually to
ensure they continue to be appropriate. Disclosures on employee future benefits are disclosed in Note 32. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>X. Other Provisions
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Where necessary, the Company recognizes provisions arising from ongoing business activities, such as interpretation
and application of contract terms, ongoing litigation and force majeure claims. These provisions and subsequent changes thereto, are determined using the Company&#8217;s best estimate of the outcome of the underlying event and can also be impacted
by determinations made by third parties, in
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
compliance with contractual requirements. The actual amount of the provisions that may be required could differ materially from the amount recognized. More information is disclosed in Notes 8 and
24 with respect to other provisions. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>XI. Revenue from Contracts with Customers </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Where contracts contain multiple promises for goods or services, management exercises judgment in determining whether goods or
services constitute distinct goods or services or a series of distinct goods that are substantially the same and that have the same pattern of transfer to the customer. The determination of a performance obligation affects whether the transaction
price is recognized at a point in time or over time. Management considers both the mechanics of the contract and the economic and operating environment of the contract to determine whether the goods or services in a contract are distinct.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In determining the transaction price and estimates of variable consideration, management considers the past history of
customer usage in estimating the goods and services to be provided to the customer. The Company also considers the historical production levels and operating conditions for its variable generating assets. The Company&#8217;s contracts generally
outline a specific amount to be invoiced to a customer associated with each performance obligation in the contract. Where contracts do not specify amounts for individual performance obligations, the Company estimates the amount of the transaction
price to allocate to individual performance obligations based on their stand-alone selling price, which is primarily estimated based on the amounts that would be charged to customers under similar market conditions. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The satisfaction of performance obligations requires management to make judgments as to when control of the underlying good or
service transfers to the customer. Determining when a performance obligation is satisfied affects the timing of revenue recognition. Management considers both customer acceptance of the good or service and the impact of laws and regulations such as
certification requirements, to determine when this transfer&nbsp;occurs. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">When contracts are modified, management must
exercise judgment to determine, depending upon the facts and circumstances of the changes to the contract, whether the modification is accounted for as a new contract or as part of the existing contract. If it is required to be accounted for as part
of the existing contract the transaction price can be affected and adjustments to previously recognized revenue can occur, or the impacts can be reflected prospectively from the modification date. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Management also applies judgment in determining whether the invoice practical expedient permits recognition of revenue at the
invoiced amount if that invoiced amount corresponds directly with the entity&#8217;s performance to date. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F27</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>XII. Classification of Joint Arrangements </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Upon entering into, or acquiring an interest in, a joint arrangement, the Company must classify it as either a joint operation or
joint venture, and this classification affects the accounting for the joint arrangement. In making this classification, the Company exercises judgment in evaluating the terms and conditions of the arrangement to determine whether the parties have
rights to the assets and obligations or rights to the net assets. Factors such as the legal structure, contractual arrangements and other facts and circumstances, such as where the purpose of the arrangement is primarily for the provision of the
output to the parties and when the parties are substantially the only source of cash flows for the arrangement, must be evaluated to understand the rights of the parties to the arrangement. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>XIII. Significant Influence </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Upon entering into an investment, the Company must classify it as either an investment in an associate or an investment under IFRS 9. In making this classification, the Company exercises judgment in evaluating whether the Company
has significant influence over the investee. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. If the Company holds 20&nbsp;per
cent or more of the voting rights in the investee, it is presumed that the entity has significant influence, unless it can be clearly demonstrated that this is not the case. Other factors such as representation on the Board, participation in
policy-making processes, material transactions between the Company and investee, interchange of managerial personnel or providing essential technical information are considered when assessing if the Company has significant influence over an
investee. </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>XIV. Change in Estimates </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the year ended Dec. 31, 2024, there were changes in estimates relating to asset impairment charges (reversals) (Note 7),
asset useful lives and depreciation (Note 19), decommissioning and other provisions (Note 24) and defined benefit obligation (Note 27). During the year ended Dec. 31, 2023, there were changes in estimates relating to asset impairment charges
(reversals) (Note 7), useful lives (Note 19), decommissioning and other provisions (Note 24) and defined benefit obligation (Note 27). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>XV. Fair Value of Assets Acquired and Liabilities Assumed in Business Combination </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The fair value of assets acquired and liabilities assumed, including contingent consideration, is estimated based on information
available at the date of acquisition. While Management uses best estimates and assumptions to accurately value assets acquired and liabilities assumed at the date of acquisition, as well as any contingent consideration, estimates are inherently
uncertain and subject to refinement. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Accounting for business combinations requires significant judgement, estimates and
assumptions at the acquisition date. In developing estimates of fair values at the acquisition date, Management utilize a variety of factors including market data, market prices, capacity, historical and future expected cash flows, growth rates and
discount rates. Information regarding business combinations has been included in Note 4. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F28&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>3. Accounting Changes </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Current Accounting Changes </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial" ALIGN="justify"><FONT COLOR="#171a5f"><B>Amendments to IAS 1 &#8212; <FONT STYLE="white-space:nowrap">Non-current</FONT> Liabilities with Covenants and Classification of
Liabilities as Current or <FONT STYLE="white-space:nowrap">Non-current</FONT> </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In October 2022, the IASB issued <FONT
STYLE="white-space:nowrap">Non-current</FONT> Liabilities with Covenants, which amends IAS 1 Presentation of Financial Statements, to clarify how conditions with which an entity must comply within 12 months after the reporting period affect the
classification of a liability. In&nbsp;January 2020, the IASB issued Classification of Liabilities as Current or <FONT STYLE="white-space:nowrap">Non-current,</FONT> which amends IAS 1 Presentation of Financial Statements regarding
the&nbsp;classification of liabilities&nbsp;as current <FONT STYLE="white-space:nowrap">or&nbsp;non-current,</FONT> clarifying that&nbsp;contractual rights and conditions existing at the&nbsp;end&nbsp;of&nbsp;the reporting period are relevant in
determining whether the Company has a right to defer settlement of a liability by at least 12 months. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Additionally, the
IASB clarified that the classification of a liability is unaffected by the likelihood that an entity will exercise its deferral right. The amendments are applied retrospectively, effective for annual periods beginning on or after
Jan.&nbsp;1,&nbsp;2024, and were adopted by the Company on that date. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has an Investment Agreement whereby
Brookfield Renewable Partners or its affiliates (collectively, Brookfield) invested $750&nbsp;million in TransAlta through the purchase of exchangeable securities (Exchangeable Securities), which are exchangeable into an equity ownership interest in
TransAlta&#8217;s Alberta hydro assets in the future. On Jan. 1, 2024, the Company reclassified the Exchangeable Securities from <FONT STYLE="white-space:nowrap">non-current</FONT> liabilities to current liabilities as the conversion option can be
exercised at any time after Dec. 31, 2024, although there is no obligation to deliver cash equivalent resources and the holder cannot call for repayment. This accounting is consistent with the amendment. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Future Accounting Changes </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company closely monitors both new accounting standards and amendments to existing accounting standards issued by the IASB. The following standards have been issued but are not yet in effect. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Amendments to IFRS 9 and IFRS 7 &#8212; Nature-Dependent Electricity Contracts </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 18, 2024, the IASB issued amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosure to improve
reporting of the financial effects of nature-dependent electricity (e.g., wind and solar) contracts,
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
which are often structured as power purchase agreements. Under these contracts, the amount of electricity generated can vary based on uncontrollable factors such as weather conditions. The
amendments clarify the application of <FONT STYLE="white-space:nowrap">own-use</FONT> requirements, permit hedge accounting if these contracts are used as hedging instruments and add new disclosure requirements about the effect of these contracts on
a company&#8217;s financial performance and cash flows. The amendments are effective for annual reporting periods beginning on or after Jan. 1, 2026. The Company is currently evaluating the impacts to the financial statements. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Amendments to IFRS 7 and IFRS 9 &#8212; Classification and Measurement of Financial Instruments </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;29, 2024, the IASB issued Amendments to the Classification and Measurement of Financial Instruments effective Jan. 1,
2026 impacting IFRS 7 and 9. The IASB amended the requirements related to settling financial liabilities using an electronic payment system and assessing contractual cash flow characteristics of financial assets, including those with <FONT
STYLE="white-space:nowrap">ESG-linked</FONT> features. The Company is currently evaluating the impacts to the financial statements. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>IFRS 18 &#8212; Presentation and Disclosure in Financial Statements </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On April&nbsp;9, 2024, the IASB issued a new standard, IFRS 18 <I>Presentation and Disclosure in Financial Statements</I>, which
introduced new requirements for improved comparability in the statement of profit or loss, enhanced transparency of management-defined performance measures and more useful grouping of information in the financial statements. The standard is
effective for annual reporting periods beginning on or after Jan. 1, 2027. The Company is currently evaluating the impacts to the financial statements. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>C. Comparative Figures </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Certain comparative figures have been reclassified to conform to the
current period&#8217;s presentation. These reclassifications did not impact previously reported net&nbsp;earnings. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F29</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>4. Business Acquisitions </B></FONT></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Acquisition of Heartland Generation </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 4, 2024 (Acquisition Date), the Company acquired all issued and outstanding
common shares of Heartland Generation Ltd. and Alberta Power (2000)&nbsp;Ltd. (collectively, Heartland) from Energy Capital Partners (ECP) (the Acquisition). The Acquisition, which includes Heartland&#8217;s entire business operations in Alberta and
British Columbia, was completed for an aggregate purchase price of $542&nbsp;million. This amount was adjusted for the reduction of $95&nbsp;million to reflect the economic benefit of the Heartland business arising since Oct. 31, 2023 and a working
capital adjustment of $2&nbsp;million. The Acquisition included the assumption of long-term debt at the Acquisition Date of $232&nbsp;million and Heartland&#8217;s cash and cash equivalents of $276&nbsp;million, resulting in a purchase price of
$493&nbsp;million. The Acquisition was funded through a combination of cash on hand and draws on the Company&#8217;s credit facilities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Heartland owns and operates generation assets consisting of 507 MW of cogeneration, 387 MW of contracted and merchant peaking generation, 950 MW of natural <FONT STYLE="white-space:nowrap">gas-fired</FONT> thermal generation,
transmission capacity and a development pipeline that includes the 400 MW Battle River Carbon Hub. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In order to meet the
requirements of the federal Competition Bureau, TransAlta entered into a consent agreement with the Commissioner of Competition pursuant to which TransAlta
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
agreed to divest Heartland&#8217;s Poplar Hill and Rainbow Lake assets with combined gross installed capacity of 97 MW following closing (the Planned Divestiture). ECP will be entitled to receive
the proceeds from the Planned Divestiture and net cash flows of these assets arising from Nov. 13, 2024 to the date of the sale. The sales process for these assets is in progress. The Company has no residual financial risk on the sale. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The acquired tangible and intangible assets and assumed liabilities are recorded at their estimated fair values at the date of the
Acquisition. The total consideration was allocated to the tangible and intangible assets acquired and liabilities assumed, with any excess recorded as goodwill. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The preliminary purchase price allocation reflects management&#8217;s best estimate of the fair value of the acquired assets and
liabilities based on the analysis of information obtained to date. Management is continuing to obtain specific information to support the valuation of the environmental compliance liabilities, decommissioning provision, property, plant and
equipment, and deferred taxes. Any adjustments to the purchase price allocation will be made as soon as practicable but no later than one year from the date of acquisition.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F30&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="font-size:0pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
following table summarizes the preliminary fair values that were assigned to the net assets acquired as at the Acquisition Date. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="88%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#171a5f"><B>Dec.&nbsp;4,&nbsp;2024</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Current Assets and <FONT STYLE="white-space:nowrap">Non-Current</FONT>
Assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash and cash equivalents</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>276</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Trade and other receivables</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>126</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Risk management assets current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Prepaid expenses and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>104</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Assets held for sale (Note 18)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term portion of finance lease receivables (Note 17)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>107</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Risk management assets
<FONT STYLE="white-space:nowrap">non-current</FONT></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Property, plant and equipment and <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">Right-of-use</FONT></FONT> assets (Note 19 and 20)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>413</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Intangible assets (Note 21)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>57</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax assets (Note 11)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>41</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Current Liabilities and <FONT STYLE="white-space:nowrap">Non-Current</FONT>
Liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accounts payable and accrued liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>193</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Risk management liabilities current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current portion of decommissioning (Note 24)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current portion of other provisions (Note 24)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current portion of contract liabilities (Note 5)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current portion of long-term debt and lease liabilities (Note 25)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Credit facilities, long-term debt and lease liabilities (Note 25)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>204</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Decommissioning <FONT STYLE="white-space:nowrap">non-current</FONT> portion (Note
24)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other provisions <FONT STYLE="white-space:nowrap">non-current</FONT> (Note
24)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax liabilities (Note 11)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>108</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Risk management liabilities
<FONT STYLE="white-space:nowrap">non-current</FONT></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contract liabilities <FONT
STYLE="white-space:nowrap">non-current</FONT> (Note 5)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Total identifiable net assets at fair value</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>523</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Goodwill arising on
acquisition (Note 22)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Net assets
acquired</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>574</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Cash consideration</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>493</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contingent consideration
payable</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>81</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Total purchase
consideration transferred</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>574</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F31</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As discussed above, the Company has agreed to pay contingent consideration to ECP for
the proceeds from the Planned Divestiture and net cash flows of these assets arising from Nov. 13, 2024, to the date of the sale. The $81&nbsp;million of contingent consideration recognized in the purchase price represents the fair value of
contingent consideration at the date of acquisition. The fair value was determined based on expected sale proceeds and net cash flows from operations. The Planned Divestiture is classified and recorded as assets and liabilities held for sale.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Goodwill of $51&nbsp;million recognized on the transaction is a result of deferred tax liabilities recognized on the
transaction, which are recorded at the Company&#8217;s effective tax rate without discounting, and from value attributed to the existence of an assembled workforce. None of the goodwill is expected to be deductible for tax purposes. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Acquisition-related expenses incurred were approximately $24&nbsp;million for the year ended Dec. 31, 2024 and are included in
operating, maintenance and administrative expenses recognized in the Consolidated Statements of Earnings. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Revenue
generated by the Acquisition for the period Dec. 4, 2024 to Dec. 31, 2024 was $34&nbsp;million. Net loss before taxes for the same period was $11&nbsp;million. Had Heartland been acquired at the beginning of the year, the assets would have
contributed an estimated $598&nbsp;million to revenues and $66&nbsp;million to net earnings before taxes.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Acquisition of TransAlta Renewables </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Oct. 5, 2023, the Company completed the acquisition of the outstanding common shares of TransAlta Renewables not already owned,
directly or indirectly, by the Company. The consideration paid totalled $1.3&nbsp;billion, comprising $800&nbsp;million of cash and 46&nbsp;million common shares of the Company valued at $514&nbsp;million, based on an $11.06 closing price of the
Company&#8217;s shares on the Toronto Stock Exchange on Oct. 4, 2023. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Transaction costs of $11&nbsp;million incurred to
effect the acquisition have been charged, net of income tax, against common shares ($4&nbsp;million) and deficit ($7&nbsp;million) on closing of the acquisition. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Since the Company retained control of TransAlta Renewables, the acquisition was accounted for as an equity transaction. On closing
of the transaction, <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests was reduced by $630&nbsp;million and accumulated other comprehensive loss increased by $64&nbsp;million to eliminate the balances previously attributed to <FONT
STYLE="white-space:nowrap">non-controlling</FONT> interest holders of TransAlta Renewables. The difference between consideration paid and these amounts was recognized in deficit. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s syndicated credit facilities were amended to effectively consolidate the TransAlta Renewables syndicated credit
facility and <FONT STYLE="white-space:nowrap">non-committed</FONT> demand facility into the TransAlta credit facilities. The cash drawings on the TransAlta Renewables&#8217; syndicated credit facility were repaid and the outstanding letters of
credit were transferred to the TransAlta <FONT STYLE="white-space:nowrap">non-committed</FONT> demand facility. The TransAlta Renewables&#8217; credit facilities were then terminated. This resulted in the TransAlta syndicated credit facility
increasing by $700&nbsp;million to approximately $2.0&nbsp;billion. Refer to Note&nbsp;25. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F32&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>5. Revenue </B></FONT></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Disaggregation of Revenue </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The majority of the Company&#8217;s revenues are derived from the sale of power,
capacity and environmental and tax attributes, leasing of power facilities and from asset optimization activities, which the Company disaggregates into the
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
following groups for the purpose of determining how economic factors affect the recognition of revenue.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="45%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>Wind&nbsp;and<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #636466;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Energy</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>Marketing</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>Corporate<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Power and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>242</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>494</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>784</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Environmental and tax
attributes<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>61</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>77</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>106</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenue from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>496</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>890</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenue from derivatives and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(69</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>282</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>311</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>168</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>708</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;trading&nbsp;activities<SUP STYLE="font-size:75%; vertical-align:top">(3)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenue from merchant sales</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>287</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>71</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>546</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>291</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1,195</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Other<SUP
STYLE="font-size:75%; vertical-align:top">(4) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Total
revenue</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>409</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>336</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,350</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>616</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>168</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2,845</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Timing of revenue recognition</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">At a point in time</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>61</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>67</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Over time</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>291</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>496</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>823</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Total revenue from contracts &#8201;with&nbsp;customers</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>496</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>890</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The elimination of intercompany sales is reflected in the Corporate segment.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The environmental and tax attributes represent environmental attributes and production tax
transfer sales not bundled with power and other sales. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Represents realized and unrealized gains or losses from hedging and derivative positions.
Volatility and pricing in commodity markets can vary significantly from period to period and impact movements in derivative positions. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other revenue includes production tax credits related to U.S. wind facilities subject to tax
equity financing arrangements, total lease income from long-term contracts that meet the criteria of operating leases and other miscellaneous revenues. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F33</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="49%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;and<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Power and other<SUP
STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">204</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">646</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Environmental and tax
attributes<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenue from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">230</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">686</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&#8201;Revenue from derivatives and other &#8201;trading&nbsp;activities<SUP STYLE="font-size:75%; vertical-align:top">(1)(3) </SUP></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">(16</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">(172</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">251</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">220</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">327</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenue from merchant sales</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">434</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">104</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,247</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">488</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,273</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Other<SUP
STYLE="font-size:75%; vertical-align:top">(4) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Total
revenue</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">533</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">336</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,514</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">751</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">220</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,355</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Timing of revenue recognition</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">At a point in time</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Over time</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">204</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">634</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Total revenue from
contracts with customers</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">230</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">686</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">In the Wind and Solar segment, $14&nbsp;million of <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses were reclassified from revenue from contracts with customers to revenue from derivatives and other trading activities to conform to the current period presentation.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The environmental and tax attributes represent environmental attributes and production tax
transfer sales not bundled with power and other sales. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Represents realized and unrealized gains or losses from hedging and derivative positions.
Volatility and pricing in commodity markets can vary significantly from period to period and impact movements in derivative positions. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other revenue includes production tax credits related to U.S. wind facilities subject to tax
equity financing arrangements, total lease income from long-term contracts that meet the criteria of operating leases and other miscellaneous revenues. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F34&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="47%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31, 2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;and<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Power and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">33</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">220</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">462</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">725</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Environmental and tax
attributes<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenue from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">270</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">462</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">776</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.30em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Revenue from derivatives and other trading activities<SUP
STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">(121</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">(821</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">243</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">160</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">(541</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenue from merchant sales</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">564</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">119</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,529</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">461</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,673</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Other<SUP
STYLE="font-size:75%; vertical-align:top">(3) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Total
revenue</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">606</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">289</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,209</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">714</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">160</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2,976</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Timing of revenue recognition</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">At a point in time</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;" ALIGN="right"><FONT COLOR="#636466">63</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Over time</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">33</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">220</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">462</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">713</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Total revenue from
contracts with customers</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">270</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">462</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">776</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The environmental and tax attributes represent environmental attributes and production tax
transfer sales not bundled with power and other sales. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Represents realized and unrealized gains or losses from hedging and derivative positions.
Volatility and pricing in commodity markets can vary significantly from period to period and impact movements in derivative positions. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other revenue includes production tax credits related to U.S. wind facilities subject to tax
equity financing arrangements, total lease income from long- term contracts that meet the criteria of operating leases and other miscellaneous revenues. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Performance Obligations </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The performance obligations in the Company&#8217;s contracts with its customers
include the provision of electricity and steam capacity; the delivery of electricity, thermal energy and environmental attributes; the provision of operation and maintenance services and water management services; and the supply of byproducts from
coal generation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The aggregate amount of transaction prices allocated to remaining performance obligations (contract
revenues that have not yet been recognized) as at Dec. 31, 2024, is approximately $2,336 million, with approximately $455 million expected to be recognized during the period 2025-2027; $391 million for the period of 2028-2030; $668 million for the
period of 2031-2035; and $822 million for 2036 and thereafter. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These amounts exclude revenues related to contracts that
qualify for the invoice practical expedient and future revenues that are related to constrained variable
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
consideration. In many of the Company&#8217;s contracts, elements of the transaction price are considered constrained, such as for variable revenues dependent upon future production volumes that
are driven by customer or market demand or market prices that are subject to factors outside the Company&#8217;s influence. As a result, the amounts of future revenues disclosed above represent only a portion of future revenues that are expected to
be realized by the Company from its contractual portfolio. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Contract liabilities of $36 million as at Dec. 31, 2024
represent the consideration received from customers in advance of satisfying the related performance obligation by supplying the related goods. Revenue is recognized when the performance obligation is satisfied. $6 million of contract liabilities
were acquired from Heartland (refer to Note 4). </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F35</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>6. Expenses by Nature </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Fuel,&nbsp;Purchased&nbsp;Power&nbsp;and&nbsp;Operations,&nbsp;Maintenance&nbsp;and&nbsp;Administration (OM&amp;A) </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fuel and purchased power and OM&amp;A expenses classified by nature are as follows: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;&#8201;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Fuel and<BR>purchased<BR>power</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>OM&amp;A</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Fuel and<BR>purchased<BR>power</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>OM&amp;A</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Fuel and<BR>purchased<BR>power</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>OM&amp;A</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gas fuel costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;&#8195;369</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">384</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">578</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Coal fuel costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>123</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">177</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">146</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Royalty, land lease, other direct costs</FONT></P></TD>

<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>419</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">474</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">514</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Salaries and benefits</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;296</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">254</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">263</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other operating
expenses<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>359</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">285</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">258</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>939</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>655</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8194;1,060</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8194;539</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8194;1,263</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8194;521</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Included in OM&amp;A costs for 2023 was $14&nbsp;million related to the write-down of parts and
material inventory related to our <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-fired</FONT></FONT> facilities. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Brazeau &#8212; Spinning Reserve <FONT STYLE="white-space:nowrap">Self-Report</FONT>
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2022 a provision of $20&nbsp;million was initially recognized in revenue reflecting a potential disgorgement of
revenue and $2&nbsp;million for potential penalties and fines. The final assessment contained no disgorgement of revenue and penalties of $33&nbsp;million. This resulted in a reversal of the original disgorgement provision in revenue in the year
ended Dec. 31, 2024 and recognition of the full amount of the penalties assessed in OM&amp;A. Refer to Note 37 for details.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Acquisition-related transaction and restructuring costs </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the year ended Dec. 31, 2024, the Company recognized $24&nbsp;million in acquisition-related transaction and restructuring
costs in OM&amp;A costs as part of other operating expenses related to the acquisition of Heartland, mainly comprising severance, legal and consulting fees.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F36&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>7. Asset Impairment Charges (Reversals) </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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 or fair value less costs of
disposal) for
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
the affected CGUs using discounted cash flow projections. The valuations are subject to measurement uncertainty from assumptions and inputs to the discount rates, power price forecasts, useful
lives of the assets (extending to the last planned asset retirement in 2072) and long-range forecasts, which include changes to production, fuel costs, operating costs and capital expenditures. The Company recognized the following asset impairment
charges (reversals): </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="78%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8201;&#8201;Year ended Dec. 31</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Segments:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="middle" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="middle" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle"></TD>
<TD VALIGN="middle"></TD>
<TD VALIGN="middle"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle"></TD>
<TD VALIGN="middle"></TD>
<TD VALIGN="middle"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hydro</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind and Solar</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Corporate</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Changes in decommissioning and restoration provisions
on retired assets<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(53</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Project development
costs</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Asset impairment
charges (reversals)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;46</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Changes relate to changes in discount rates and revisions in estimated decommissioning costs on
retired assets in 2024, 2023 and 2022. Refer to Note 24 for further details. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2024, the Company recognized impairment of project development costs related
to projects that are no longer proceeding. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Hydro </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2023, internal valuations indicated the fair value less costs of disposal for two hydro facilities exceeded the carrying
value due to a contract extension and changes in power price assumptions, which favourably impacted estimated future cash flows and resulted in a recoverability test. As a result of the recoverability test, an impairment reversal of $10&nbsp;million
was recognized. The recoverable amounts of $70&nbsp;million in total were estimated based on fair value less costs of disposal utilizing a discounted cash&nbsp;flow approach and are categorized as a Level III fair value&nbsp;measurement. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2022, the Company recorded net impairment charges of $21&nbsp;million on four hydro facilities as a result of changes in key
assumptions, that included significant increases in discount rates, changes in pricing and changes in estimated future cash flows. The total recoverable amounts of $89&nbsp;million for these four assets was estimated based on fair value less costs
of disposal using a discounted cash flow approach and is categorized as a Level III fair value&nbsp;measurement.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Wind and Solar </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2023, the Company recorded net impairment reversals of $4&nbsp;million. Internal valuations indicated the fair value less
costs of disposal for three wind facilities exceeded the carrying value due to changes in power price assumptions, which favourably impacted estimated future cash flows and resulted in impairment reversals of $17&nbsp;million. The total recoverable
amounts of $540&nbsp;million was estimated based on fair value&nbsp;less costs of disposal using a discounted cash flow&nbsp;approach and is categorized as a Level III fair value&nbsp;measurement. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Also in 2023, two wind facilities were impaired, primarily due to unfavourable power price assumptions and changes in estimated
future cash flows, resulting in a $13&nbsp;million impairment charge. The recoverable amounts of $130&nbsp;million for these two assets were estimated based on fair value less costs of disposal using a discounted cash&nbsp;flow approach and are
categorized as a Level III fair value&nbsp;measurement. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2022, the Company recorded net impairment charges of
$43&nbsp;million on five wind facilities and one solar facility as a result of changes in key assumptions, that included significant increases in discount rates, changes in pricing and changes in estimated future cash flows. The recoverable amounts
of $754&nbsp;million for these six assets were estimated based on fair value less costs of disposal using a discounted cash flow approach and categorized as a Level III fair value&nbsp;measurement.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F37</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>8. Net Other Operating Income </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Net other operating income includes the following: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8201;&#8201;Year ended Dec. 31</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alberta
<FONT STYLE="white-space:nowrap">Off-Coal</FONT> Agreements</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Liquidated damages recoverable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net other
operating income</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(47</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(58</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:15pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Alberta <FONT STYLE="white-space:nowrap">Off-Coal</FONT> Agreements (OCA) </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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 agreements, including those acquired in the recent Heartland acquisition, the Company will receive annual cash payments on or before July&nbsp;31 of approximately $44&nbsp;million. These payments will continue until the
termination of the agreements at the end of 2030. The Company recognizes the <FONT STYLE="white-space:nowrap">off-coal</FONT> payments evenly throughout the year. Receipt of the payments is subject to certain terms and conditions, including the
cessation of all coal-fired emissions on or before Dec. 31, 2030, which has been achieved. The affected plants are not, however, precluded from generating electricity at any time by any other method, after Dec. 31, 2030.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Liquidated Damages Recoverable </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company receives liquidated damages related to requirements to be met by the contractor on turbine availability guarantees at
our Wind sites. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Sundance A Decommissioning </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 9, 2024, the Company received the decision by the Alberta Utilities Commission related to Sundance A Reclamation awarding
TransAlta a reimbursement of $9&nbsp;million from the Balancing Pool for TransAlta&#8217;s decommissioning costs for Sundance A, including its proportionate share of the Highvale mine. The amount, included in other for 2024, represents a shortfall
of decommissioning costs of Sundance A. Refer to Note 37 for more details. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F38&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>9. Investments </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The change in investments is as follows: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="33%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>EMG</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Skookumchuck</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Tent</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Mountain</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>EIP</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Ekona</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Classification</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;<BR></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">Equity-<BR>accounted</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;<BR>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;<BR></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">Equity-<BR>accounted</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;<BR>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;<BR></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">Equity-<BR>accounted</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;<BR>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">FVTPL</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">FVTOCI</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Balance, Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">105</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">129</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Investment</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Equity (loss) income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Distributions received</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.40em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Changes in foreign
exchange&nbsp;rates</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Balance, Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">104</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">138</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Investment</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Equity (loss) income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Distributions received</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.40em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Changes in foreign exchange&nbsp;rates</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.40em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net change in fair value recognized in
earnings</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Balance, Dec. 31,
2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;&#8195;6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;&#8195;&#8195;&#8194;118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;&#8194;&#8195;&#8195;12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;&#8195;22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;&#8195;1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;&#8195;159</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Equity-accounted Investments </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s investments in joint ventures and associates that are accounted
for using the equity method consist of its investments in Skookumchuck, EMG International, LLC (EMG) and Tent Mountain Renewable Energy Complex (Tent&nbsp;Mountain). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>EMG International, LLC </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta holds a 30&nbsp;per cent interest in EMG, a wastewater treatment processing company. Earnings are derived from the design and construction of wastewater treatment&nbsp;facilities. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Skookumchuck Wind Project </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta holds a 49&nbsp;per cent membership interest in SP Skookumchuck Investment, LLC. Skookumchuck is a 136.8 MW wind project located in Lewis and Thurston counties near Centralia in Washington state. The project has a <FONT
STYLE="white-space:nowrap">20-year</FONT> PPA with Puget Sound Energy.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Tent Mountain Pumped Hydro Development Project </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On April&nbsp;24, 2023, the Company acquired a 50&nbsp;per cent interest in Tent Mountain, an early-stage 320 MW pumped hydro energy
storage development project, located in southwest Alberta, from Evolve Power Ltd., formerly known as Montem Resources Limited. The acquisition included land rights, fixed assets and intellectual property associated with the pumped hydro development
project. The Company paid Evolve $8&nbsp;million on closing and made additional investments of $2&nbsp;million during the balance of 2023. On Oct. 8, 2024, the Company increased its interest from 50 to 60&nbsp;per cent by converting an outstanding
loan receivable balance into an additional interest in the partnership. Additional contingent payments of up to $17&nbsp;million may become payable to Evolve based on the achievement of specific development and commercial milestones. The Company and
Evolve jointly control Tent Mountain, with the result that the Company accounts for its interest in the joint venture as an investment using the equity method.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F39</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Summarized financial information on the results of operations relating to the
Company&#8217;s <FONT STYLE="white-space:nowrap">pro-rata</FONT> interests in Skookumchuck, EMG and Tent Mountain, is as follows: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="66%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Year ended Dec.
31</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2024</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2023</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2022</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Results of operations</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues and other operating income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Expenses</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Proportionate share
of net earnings</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Other Investments </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Energy Impact Partners </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;6, 2022, the Company entered into a commitment to invest US$25&nbsp;million over the next four years in Energy Impact
Partners (EIP) Deep Decarbonization Frontier Fund 1 (the Frontier Fund). 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 <FONT STYLE="white-space:nowrap">net-zero</FONT> emissions. The investment is accounted for at FVTPL.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Ekona Power Inc. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Feb. 1, 2022, the Company made an equity investment of $2&nbsp;million in Ekona&#8217;s Class&nbsp;B Preferred Shares. The
investment supports the commercialization of Ekona&#8217;s novel methane pyrolysis technology platform, which is being developed to produce cleaner and lower-cost turquoise hydrogen. The Company has irrevocably elected to measure its investment in
Ekona at FVTOCI. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>10. Interest Expense
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The components of interest expense are as follows: </FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="66%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on debt</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;197</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;&#8194;203</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;&#8194;164</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on exchangeable debentures (Note
26)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on exchangeable preferred shares (Note
26)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Capitalized interest (Note 19)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(57</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Credit facility fees, bank charges and other
interest</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Tax shield on tax equity financing (Note
25)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accretion of provisions
(Note 24)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Interest
expense</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>324</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">281</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">286</FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F40&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>11. Income Taxes </B></FONT></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Consolidated Statements of Earnings </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>I. Rate Reconciliation </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4">&#8199;<B>Earnings before income taxes</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">880</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&#8199;Net earnings attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests not subject to tax</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(94</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4">&#8199;<B>Adjusted earnings before income taxes</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;309</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;800</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;259</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Statutory Canadian federal and provincial income tax rate (%)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>23.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">23.4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">23.4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Expected income tax expense</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>72</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">187</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;(Decrease) increase in income taxes resulting from:</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Differences in effective foreign tax rates</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">&#8199;Non-deductible</FONT> expense<SUP
STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>46</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">58</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">130</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">&#8199;Non-taxable</FONT>
income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Taxable capital loss (gain)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax recovery related to temporary difference on investment in
subsidiaries</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Reversal of unrecognized deferred income tax assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(178</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Statutory and other rate differences</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Adjustments in respect of deferred income tax of previous
years</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4">&#8199;<B>Income tax expense</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">192</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4">&#8199;<B>Effective tax rate (%)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">This amount is related to current tax adjustments in the U.S. to mitigate cash tax relating to the
Base Erosion and Anti-Abuse Tax, Canadian <FONT STYLE="white-space:nowrap">non-</FONT> deductible penalties, and a tax adjustment relating to dividends on preferred shares, treated as interest for accounting purposes.</FONT><FONT COLOR="#636466">
</FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Global Minimum Tax Act </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In response to the OECD Pillar Two Model rules, Canada enacted the Global Minimum Tax Act (GMTA) on June&nbsp;19, 2024. The GMTA
provides for a minimum tax of 15&nbsp;per cent to be applied on a jurisdictional basis. The adoption of the GMTA did not have a material impact on the Company&#8217;s tax
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
expense. IAS 12 contains a mandatory temporary exception to recognizing and disclosing information about deferred taxes related to Pillar Two. The Company has applied this exception.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F41</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Components of Income Tax Expense </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The components of income tax expense are as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current income tax expense</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax (recovery) expense related to the origination and reversal
of temporary&nbsp;differences</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(45</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">215</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">153</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax recovery related to temporary difference on investment in
subsidiaries</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Reversal of unrecognized deferred income
tax&nbsp;assets<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(178</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">Income tax expense</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">192</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current income tax expense</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax (recovery)
expense</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(63</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">127</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Income tax expense</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">192</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the year ended Dec. 31, 2024, the Company recognized deferred tax assets of
$13&nbsp;million (2023 &#8212; $178&nbsp;million, 2022 &#8212; $24 million). The deferred income tax assets mainly relate to the tax benefits associated with tax losses related to the Company&#8217;s directly owned U.S. operations and other
deductible differences. The Company has not recognized $152&nbsp;million (2023 &#8212; $157 million) of deferred tax assets on the basis that it is not probable that sufficient future taxable income would be available to utilize these tax
assets.</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Consolidated Statements of Changes in Equity </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The aggregate current and deferred income tax related to items charged or credited to equity are as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="74%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year&nbsp;ended&nbsp;Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Income tax expense (recovery) related to:</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net impact related to cash flow hedges</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(112</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net impact related to hedges of foreign operations</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net impact related to net actuarial gains (losses)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Transaction costs for the acquisition of
TransAlta Renewables</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">Income tax expense
(recovery) reported in equity</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(103</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F42&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Consolidated Statements of Financial Position </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Significant components of the Company&#8217;s deferred income tax assets (liabilities) are as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="79%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;As at Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-capital</FONT> losses<SUP
STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;149</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Future decommissioning and restoration costs</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>184</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">140</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Property, plant and equipment</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(646</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(528</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Investment in subsidiaries<SUP STYLE="font-size:75%; vertical-align:top">(2)
</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(60</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(63</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Risk management assets and liabilities, net</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">99</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Employee future benefits and compensation plans</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange differences</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other taxable temporary
differences</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">Net deferred income tax liabilities, before
unrecognized deferred income tax&nbsp;assets</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(266</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(208</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Unrecognized deferred income tax
assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(152</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(157</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net deferred income tax
liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(418</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(365</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f"><FONT STYLE="white-space:nowrap">Non-capital</FONT> losses expire between 2031 and 2044. Net
operating losses from U.S. operations have no expiration.</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Classification for the 2023 comparative figures has been conformed to the current period&#8217;s
presentation.</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The net deferred income tax liability is presented in the
Consolidated Statements of Financial Position as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="80%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;As at Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax assets<SUP STYLE="font-size:75%; vertical-align:top">(1)
</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax liabilities</FONT></P></TD>

<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(470</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(386</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">Net deferred income
tax liabilities</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(418</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(365</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The deferred income tax assets presented on the Consolidated Statements of Financial Position are
recoverable based on estimated future earnings and tax planning strategies. The assumptions used in the estimate of future earnings are based on the Company&#8217;s long-range forecasts.</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Contingencies </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As of Dec. 31, 2024, the Company had recognized a net liability of nil (2023 &#8212; nil) related to uncertain tax positions.
</FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F43</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>12. <FONT STYLE="white-space:nowrap">Non-Controlling</FONT> Interests </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s subsidiaries and operations that have <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests are as
follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="21%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD WIDTH="29%"></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Subsidiary&nbsp;/Operation</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-controlling&nbsp;interest&nbsp;owner</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-controlling&nbsp;interest</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>as at Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-controlling&nbsp;interest</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>as at Dec. 31, 2023</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cogeneration&nbsp;LP</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">Canadian&nbsp;Power&nbsp;Holdings&nbsp;Inc.</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>49.99%</B></FONT></TD>
<TD NOWRAP VALIGN="top" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">49.99%</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Kent&nbsp;Hills&nbsp;Wind&nbsp;LP</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">Natural Forces Technologies Inc.</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17%</B></FONT></TD>
<TD NOWRAP VALIGN="top" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">17%</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta
Renewables&nbsp;Inc.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Public shareholders</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>nil</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">nil<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interest from Jan. 1, 2023 to Oct. 4, 2023
was 39.9%.</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta Cogeneration, LP (TA Cogen) operates a portfolio of cogeneration facilities
in Canada and owns 50&nbsp;per cent of Sheerness, a dual-fuel generating facility. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Kent Hills Wind LP, a subsidiary,
owns and operates the 167 MW Kent Hills (1, 2 and 3) wind facilities located in New Brunswick. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta Renewables Inc.
(TransAlta Renewables) was previously a <FONT STYLE="white-space:nowrap">non-wholly</FONT> owned publicly traded entity that operated a portfolio of gas and renewable power generation
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
facilities and owned economic interests in various other gas and renewable facilities of the Company. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Oct. 5, 2023, the Company acquired all of the outstanding common shares of TransAlta Renewables not already owned, directly or
indirectly, by TransAlta and certain of its affiliates. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Summarized financial information relating to subsidiaries with
significant <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests is as follows: </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>TA Cogen </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="70%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;167</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;290</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;347</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net earnings and total comprehensive income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">121</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Amounts attributable to the
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interest:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net earnings</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">91</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total comprehensive income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">91</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Distributions paid to Canadian Power Holdings
Inc.</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">148</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">87</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;As at Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>47</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;130</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;193</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(32</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total equity</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(161</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Equity attributable to Canadian Power Holdings
Inc.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(46</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(79</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interest share (per cent)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>49.99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">49.99</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F44&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Kent Hills Wind LP </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Prior to Oct. 5, 2023, financial information related to the 17&nbsp;per cent <FONT STYLE="white-space:nowrap">non-controlling</FONT>
interest in Kent Hills Wind LP was included in the financial information disclosed in TransAlta Renewables in this note. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="81%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net earnings and total comprehensive income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Amounts attributable to the
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interest:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net earnings and total comprehensive
income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">This represents financial information from Oct. 5, 2023 to Dec. 31, 2023. The net earnings
attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interest in Kent Hills Wind LP prior to Oct. 5, 2023, is included in the disclosures for TransAlta Renewables.</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="81%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;As at Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>463</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">481</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(174</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(188</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total equity</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(296</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(285</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Equity attributable to <FONT
STYLE="white-space:nowrap">non-controlling</FONT> interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interest share (per cent)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>TransAlta Renewables </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The financial information disclosed below includes the 17&nbsp;per cent <FONT STYLE="white-space:nowrap">non-controlling</FONT>
interest in Kent Hills Wind LP until Oct.&nbsp;5, 2023. TransAlta Renewables at Dec. 31, 2024, and Dec. 31, 2023, is a wholly owned subsidiary of the Company. Refer to Note 4 for more&nbsp;details. </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="82%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;303</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;560</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net earnings</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">56</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total comprehensive loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(67</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Amounts attributable to the
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net earnings</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total comprehensive loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Distributions paid to <FONT
STYLE="white-space:nowrap">non-controlling</FONT> interests<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interest share before the close of the
transaction on Oct. 5, 2023. This represents financial information from Jan. 1, 2023 to Oct. 4, 2023.</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Distributions paid in the year ended Dec. 31, 2023 include $25&nbsp;million of dividends declared in
the fourth quarter of 2022.</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F45</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>13. Trade and Other Receivables and Accounts Payable, accrued liabilities and
other current liabilities </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="80%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31</B></FONT></P>
<P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2023&#8201;</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Trade accounts receivable</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>570&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">600&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Collateral provided (Note 15)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>124&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">145&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Current portion of finance lease receivables (Note 17)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Current portion of loan receivable (Note 23)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Income taxes receivable</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>42&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">42&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Trade and other receivables</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>767&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">807&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Accounts payable and accrued liabilities</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>694&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">772&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Income taxes payable</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>23&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Interest payable</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">16&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Current portion of contract liabilities (Note 5)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Liabilities Held for Sale</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Collateral held (Note 15)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Accounts payable, accrued liabilities and other current liabilities</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;756</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;</B>809&#8201;<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F46&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>14. Financial Instruments </B></FONT></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Financial Assets and Liabilities &#8212; Classification and Measurement </B></FONT></P>
<P STYLE="margin-top:9pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Financial assets and financial liabilities are measured on an ongoing basis at cost, fair value or amortized cost. </FONT></P>
<P STYLE="font-size:9pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="45%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;Carrying value as at Dec. 31, 2024</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Derivatives<BR>used
for<BR>hedging</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Derivatives<BR>held
for<BR>trading<BR>(FVTPL)</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Amortized<BR>cost</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Other<BR>financial<BR>assets<BR>and</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>liabilities<BR>(FVTPL)</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Other</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>financial<BR>assets<BR>(FVOCI)</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Total&#8201;</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"><FONT STYLE="font-size:9pt" COLOR="#43c5e4"><B>&#8199;Financial assets</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash and cash equivalents<SUP STYLE="font-size:75%; vertical-align:top">(1)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>337</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>337&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Restricted cash</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>69</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>69&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Trade and other receivables<SUP STYLE="font-size:75%; vertical-align:top">(2)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>725</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>725&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term portion of finance lease receivables</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>305</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>305&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term portion of loan receivable<SUP
STYLE="font-size:75%; vertical-align:top">(3) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>24&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other investments<SUP STYLE="font-size:75%; vertical-align:top">(4)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>23&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Risk management assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>273</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>318&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>93</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>93&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="font-size:9pt" COLOR="#43c5e4"><B>&#8199;Financial liabilities</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Bank overdraft</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accounts payable, accrued&nbsp;liabilities and other current liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(5) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>720</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>720&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contingent consideration</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>81</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>81&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dividends payable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>49</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>49&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Risk management liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>277</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>277&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>305</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>305&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Credit facilities, long-term debt and lease liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(6)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3,808</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3,808&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt" BGCOLOR="#ffffff">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#ffffff" STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Exchangeable securities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>750</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>750&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes cash equivalents of nil. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Excludes income taxes receivable. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Included in other assets. Refer to Note 23. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Included in investments. Refer to Note 9. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Excludes the current portion of contract liabilities, current income taxes payable and liabilities
held for sale. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(6)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes current portion. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F47</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="46%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;Carrying value as at Dec. 31, 2023</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Derivatives<BR>used
for<BR>hedging</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Derivatives<BR>held
for<BR>trading<BR>(FVTPL)</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Amortized<BR>cost</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Other<BR>financial<BR>assets<BR>(FVTPL)</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Other</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>financial</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>assets</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>(FVTOCI)</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Total</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Financial assets</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash and cash equivalents<SUP STYLE="font-size:75%; vertical-align:top">(1)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">348</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">348</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Restricted cash</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Trade and other receivables<SUP STYLE="font-size:75%; vertical-align:top">(2)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">765</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">765</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term portion of finance lease receivables</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">171</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">171</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term portion of loan receivable<SUP
STYLE="font-size:75%; vertical-align:top">(3) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other investments<SUP STYLE="font-size:75%; vertical-align:top">(4)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Risk management assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">151</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">151</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Financial liabilities</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Bank overdraft</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accounts payable, accrued liabilities and other current liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(5) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">797</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">797</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dividends payable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Risk management liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">125</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">189</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">314</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">194</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">274</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Credit facilities, long-term debt and lease liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(6) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,466</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,466</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Exchangeable securities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">744</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">744</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes cash equivalents of nil. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Excludes income taxes receivable. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Included in other assets. Refer to Note 23. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Included in investments. Refer to Note 9. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Excludes the current portion of contract liabilities, current income taxes payable and liabilities
held for sale. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(6)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes current portion. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Fair Value of Financial Instruments </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The fair value of a financial instrument is the price that would be received when
selling the asset or paid to transfer the associated liability in an orderly transaction between market participants at the measurement date. Fair values can be determined by observing quoted prices for the instrument in active markets to which the
Company has access. In the absence of an active market, the Company determines fair values based on valuation models or by reference to other
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
similar products in active markets. Fair values determined using valuation models require the use of assumptions. In determining those assumptions, the Company looks primarily to external readily
observable market inputs. However, if these are not available, the Company uses inputs that are not based on observable market data.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F48&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Level I, II and III Fair Value Measurements </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Level I,&nbsp;II and III classifications in the fair value hierarchy used by the Company are defined below. The fair value
measurement of a financial instrument is included in only one of the three levels, the determination of which is based on the lowest level input that is significant to the derivation of the fair value. The Level III classification is the lowest
level classification in the fair value hierarchy. <B> </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>a. Level I </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. In determining Level I fair values, the Company uses quoted prices for identically traded commodities obtained from active exchanges such as the New York Mercantile Exchange. <B>
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>b. Level II </B></FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Fair values are determined, directly or indirectly, using inputs that are observable for the asset or liability. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">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></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s commodity risk management Level II financial instruments include <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT> 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&nbsp;observable. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. For certain financial instruments where insufficient trading volume or lack of recent trades exists, the Company relies
on similar interest or currency rate inputs and other third-party information such as credit&nbsp;spreads. <B> </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>c. Level III
</B></FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fair values are determined using inputs for the assets or liabilities that are not readily observable.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company may enter into commodity transactions for which market-observable data is
not available. In these cases, Level III fair values are determined using valuation techniques such as <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-forecast</FONT></FONT> and <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">mark-to-model.</FONT></FONT> For <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-model</FONT></FONT> valuations, derivative pricing models, regression-based models and scenario analysis simulation
models may be employed. The model inputs may be based on historical data such as unit availability, transmission congestion, demand profiles for individual <FONT STYLE="white-space:nowrap">non-standard</FONT> deals and structured products and/or
volatility and correlations between products derived from historical price relationships. 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 <FONT STYLE="white-space:nowrap">re-assessing</FONT> categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting&nbsp;period. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company also has various commodity contracts with terms that extend beyond a liquid trading period. As forward market prices are
not available for the full period of these contracts, the value of these contracts is derived by reference to a forecast that is based on a combination of external and internal fundamental modelling, including discounting. As a result, these
contracts are classified in&nbsp;Level III. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Commodity Risk Management Assets and Liabilities </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Commodity risk management assets and liabilities include risk management assets and liabilities that are used in the energy
marketing and generation segments in relation to trading activities and certain contracting activities. To the extent applicable, changes in net risk management assets and liabilities for <FONT STYLE="white-space:nowrap">non-hedge</FONT> positions
are reflected within earnings of these businesses. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Commodity risk management assets and liabilities classified by fair
value levels as at Dec. 31, 2024, are as follows: Level I &#8211; $12&nbsp;million net liability (Dec. 31, 2023 &#8211; $13&nbsp;million net liability), Level II &#8211; $2&nbsp;million net liability (Dec. 31, 2023 &#8211; $244&nbsp;million net
liability) and Level III &#8211; $153&nbsp;million net liability (Dec. 31, 2023 &#8211; $147&nbsp;million net&nbsp;liability). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Significant changes in commodity net risk management assets (liabilities) during the year ended Dec. 31, 2024, are primarily attributable to contract settlements and volatility in market prices across multiple markets on both
existing contracts and new contracts. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F49</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table summarizes the key factors impacting the fair value of the
Level III commodity risk management assets and liabilities by classification during the years ended Dec. 31, 2024 and 2023, respectively: </FONT></P> <P STYLE="font-size:9pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="54%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Year ended Dec. 31,
2024</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Year ended Dec. 31,
2023</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Hedge</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-hedge</FONT></B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Total</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Hedge</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-hedge</FONT></B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Total</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Opening balance</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(147</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(147</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(347</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(435</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(782</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Changes attributable to:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">New contracts added<SUP STYLE="font-size:75%; vertical-align:top">(1)
</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Market price changes on existing contracts</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(49</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(49</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(123</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(129</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Market price changes on new contracts</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contracts settled</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">256</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">269</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">525</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign exchange rates</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Transfers out of Level III<SUP
STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">205</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">205</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net risk management assets (liabilities) at
end of year</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(153</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(153</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(147</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(147</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Additional Level III information:</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Losses recognized in other comprehensive loss</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(114</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(114</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total (losses) gains included in earnings before income taxes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(32</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(32</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(256</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(237</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Unrealized (losses) gains included in
earnings before income taxes relating to net assets (liabilities) held at year end</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">288</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">288</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">New contracts added in 2024 represent the contracts acquired from Heartland.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The Company has a long-term fixed price power sale contract in the U.S. for delivery of power. The
fair value was transferred out of Level III to Level II as at Dec. 31, 2023 as the forward price curve was based on observable market prices for the remaining duration of the contract. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has a Commodity Exposure Management Policy that governs both the
commodity transactions undertaken in its proprietary trading business and those undertaken to manage commodity price exposures in its generation business. This Policy defines and specifies the controls and management responsibilities associated with
commodity trading activities, as well as the nature and frequency of required reporting of such activities.</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Company&#8217;s risk management department determines methodologies and procedures regarding commodity risk management Level III fair value measurements. Level III fair values are primarily calculated within the Company&#8217;s energy trading risk
management processes. These calculations are based on underlying contractual data as well as observable and <FONT STYLE="white-space:nowrap">non-observable</FONT> inputs. Development of <FONT STYLE="white-space:nowrap">non-observable</FONT> inputs
requires the use of judgment. To ensure reasonability, the Level III fair value measurements are reviewed and validated by the risk management and finance departments. Review occurs formally on a quarterly basis or more frequently if daily review
and monitoring procedures identify unexpected changes to fair value or changes to key parameters.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Dec. 31, 2024, the total Level III risk management asset balance was
$110&nbsp;million (Dec. 31, 2023 &#8211; $56 million) and the Level III risk management liability balance was $263&nbsp;million (Dec. 31, 2023 &#8211; $203 million). The net risk management liabilities increased mainly due to market price changes
offset by settled contracts. The information on risk management contracts or groups of risk management contracts that are included in Level III measurements and the related unobservable inputs and sensitivities are outlined in the following table.
These include the effects on fair value of discounting, liquidity and credit value adjustments; 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></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F50&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="23%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="11%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>As at</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="5" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Description</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Valuation</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>technique</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Unobservable&nbsp;input</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Reasonably&nbsp;possible&nbsp;change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Sensitivity<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;Coal transportation &#8211;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Numerical</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Volatility</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">80% to 120%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>+1&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;U.S.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">derivative valuation</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Rail rate escalation</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">0% to 10%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>-1&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;Long-term wind energy</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Long-term price</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Illiquid&nbsp;future&nbsp;power&nbsp;prices</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Price decrease</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>+42&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;sale &#8212; Eastern U.S.</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">forecast</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">(per MWh)</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">or increase of US$6</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Illiquid future REC<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP>prices</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Price decrease of US$12</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">(per unit)</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">or increase of US$8</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Wind discounts</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">0% decrease or 6% increase</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>-30&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">Long-term wind energy</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Long-term price</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Illiquid future power prices</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Price decrease of $57</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>+53&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;sale &#8212; Canada</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">forecast</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">(per MWh)</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">or increase of $10</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">&#8201;</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Wind discounts</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">15%&nbsp;decrease&nbsp;or&nbsp;5%&nbsp;increase</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>-17&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;Long-term wind energy</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Long-term price</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Illiquid future power prices</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Price decrease of US$4</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>+84&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;sale &#8212; Central U.S.</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">forecast</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">(per MWh)</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">or increase of US$3</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Wind discounts</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">2% decrease or 2% increase</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>-77&#8199;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Sensitivity represents the total increase or decrease in recognized fair value that could arise from
the use of the reasonably possible changes of all unobservable inputs. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Renewable energy credits </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="23%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="11%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>As at</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Description</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Valuation technique</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Unobservable input</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Reasonably possible<BR>change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Sensitivity<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;Coal transportation &#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Numerical derivative</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Volatility</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">80% to 120%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>+6&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;U.S.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">valuation</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Rail rate escalation</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">0% to 10%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>-4&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;Long-term wind energy</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Long-term price</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Illiquid future power prices</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Price decrease</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>+24&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;sale &#8212; Eastern U.S.</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">forecast</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">(per MWh)</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">or increase of US$6</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Illiquid future REC prices</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Price decrease of US$12</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">(per unit)</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">or increase of US$8</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Wind discounts</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">0% decrease or 9% increase</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>-28&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;Long-term wind energy</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Long-term price</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Illiquid future power prices</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Price decrease of $81</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>+65&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;sale &#8212; Canada</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">forecast</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">(per MWh)</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">or increase of $5</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Wind discounts</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">16% decrease or 5% increase</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>-23&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;Long-term wind energy</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Long-term price</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Illiquid future power prices</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Price decrease of US$1</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>+81&#8199;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"><FONT COLOR="#636466">&#8201;sale &#8212; Central U.S.</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">forecast</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">(per MWh)</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">or increase of US$2</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Wind discounts</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">5% decrease or 2% increase</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>-36&#8199;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Sensitivity represents the total increase or decrease in recognized fair value that would arise from
the use of the reasonably possible changes of all unobservable inputs. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>a. Coal Transportation &#8211; U.S. </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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&nbsp;agreement. </FONT></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The key unobservable inputs used in the valuation include option volatility and rail
rate escalation. Option volatility and rail rate escalation ranges have been determined based on historical data and professional judgment. <B> </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT
 COLOR="#43c5e4"><B>b. Long-Term Wind Energy Sale &#8211; Eastern U.S. </B></FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is party to a long-term contract
for differences (CFD) for the offtake of 100&nbsp;per cent of the </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F51</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">generation from its 90 MW Big Level wind facility. The CFD, together with the sale of
electricity generated into the PJM Interconnection at the prevailing real-time energy market price, achieve the fixed contract price per MWh on proxy generation. Under the CFD, if the market price is lower than the fixed contract price, the customer
pays the Company the difference and if the market price is higher than the fixed contract price, the Company refunds the difference to the customer. The customer is also entitled to the physical delivery of environmental attributes.&nbsp;The
contract matures in December 2034. The contract is accounted for as a derivative with changes in fair value presented in revenue. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The key unobservable inputs used in the valuation of the contract are expected proxy generation volumes and <FONT STYLE="white-space:nowrap">non-liquid</FONT> forward prices for power, RECs and wind discounts. <B> </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>c. Long-Term Wind Energy Sale &#8211; Canada </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is party to two Virtual Power Purchase Agreements (VPPAs) for the offtake of 100&nbsp;per cent of the generation from
its 130 MW Garden Plain wind facility. The VPPAs, together with the sale of electricity generated into the Alberta power market at the pool price, achieve the fixed contract prices per MWh. Under the VPPAs, if the pool price is lower than the fixed
contract price, the customer pays the Company the difference and if the pool price is higher than the fixed contract price, the Company refunds the difference to the customer. Customers are also entitled to the physical delivery of environmental
attributes. Both VPPAs commenced on commercial operation of the facility in August 2023, and extend for a weighted average period of approximately 17 years. The energy components of these contracts are accounted for as derivatives, with changes in
fair value presented in&nbsp;revenue. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The key unobservable inputs used in the valuations of the contracts are the <FONT
STYLE="white-space:nowrap">non-liquid</FONT> forward prices for power and monthly wind discounts. <B> </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>d. Long-Term Wind Energy
Sale &#8211; Central U.S. </B></FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is party to two long-term VPPAs for the offtake of 100&nbsp;per cent of the
generation from its 302 MW White Rock East and White Rock West wind power facilities. The VPPAs, together with the sale of electricity generated into the U.S. Southwest Power Pool (SPP) market at the relevant price nodes, achieve the fixed contract
prices per MWh. Under the VPPAs, if the SPP pricing is lower than the fixed contract price the customer pays
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
the Company the difference, and if the SPP pricing is higher than the fixed contract price, the Company refunds the difference to the customer. The customer is also entitled to the physical
delivery of environmental attributes. The VPPAs commenced on commercial operation of the facilities in the first quarter of 2024. The Company is also party to a VPPA for the offtake of 100&nbsp;per cent of the generation from its 202 MW Horizon Hill
wind power project. The VPPA, together with the sale of electricity generated into the SPP market at the relevant price node, achieve the fixed contract price per MWh. Under the VPPA, if the SPP pricing is lower than the fixed contract price, the
customer pays the Company the difference and if the SPP pricing is higher than the fixed contract price, the Company refunds the difference to the customer. The customer is also entitled to the physical delivery of environmental attributes. The VPPA
commenced on commercial operation of the facility in the second quarter of 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The energy components of these
contracts are accounted for as derivatives, with changes in fair value presented in revenue. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The key unobservable inputs
used in the valuation of the contracts are the <FONT STYLE="white-space:nowrap">non-liquid</FONT> forward prices for power and wind discounts. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>III. Other Risk Management Assets and Liabilities </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other risk management assets and liabilities
primarily include risk management assets and liabilities that are used to manage exposures on <FONT STYLE="white-space:nowrap">non-energy</FONT> marketing transactions such as interest rates, the net investment in foreign operations and other
foreign currency risks. Hedge accounting is not always applied. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other risk management assets and liabilities with a
total net liability fair value of $4&nbsp;million as at Dec. 31, 2024 (Dec. 31, 2023 &#8211; $19&nbsp;million net asset) are classified as Level II fair value measurements. The changes in other net risk management assets and liabilities during the
year ended Dec. 31, 2024, are attributable to contracts acquired through the Heartland acquisition (Note 4), offset by unfavorable market price changes on existing contracts, unfavorable foreign exchange rates on new contracts entered into during
2024, and contracts settled during 2024. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F52&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>IV. Other Financial Assets and Liabilities </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The fair value of financial assets and liabilities measured at other than fair value is as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="66%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Fair&nbsp;value<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Total</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>carrying</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>value<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></B></FONT></P></TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Level&nbsp;I</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Level&nbsp;II</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Level&nbsp;III</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Exchangeable securities &#8212; Dec. 31, 2024</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>739</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>739</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>750</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Long-term debt &#8212; Dec. 31, 2024</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,447</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,447</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,657</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Loan receivable &#8212; Dec. 31, 2024</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>25</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>25</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>25</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Exchangeable securities &#8212; Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">718</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">718</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">744</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Long-term debt &#8212; Long-term debt &#8212; Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,104</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,104</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,323</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Loan receivable
&#8212; Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes current portion. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The fair values of the Company&#8217;s debentures, senior notes and exchangeable
securities are determined using prices observed in secondary markets. <FONT STYLE="white-space:nowrap">Non-recourse</FONT> and other long-term debt fair values are determined by calculating an implied price based on a current assessment of the yield
to&nbsp;maturity. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The carrying amount of other short-term financial assets and liabilities (cash and cash equivalents,
restricted cash, trade
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
accounts receivable, collateral provided, bank overdraft, accounts payable and accrued liabilities, collateral held and dividends payable) approximates fair value due to the liquid nature of the
asset or liability. The fair values of the finance lease receivables approximate the carrying amounts as the amounts receivable represent cash flows from repayments of principal and interest.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F53</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Inception Gains and Losses </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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 14 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 transaction price) and the amount calculated through a valuation model. This unrealized
gain or loss at
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
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 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. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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&nbsp;follows: </FONT></P>
<P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="71%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Unamortized net gain (loss) at beginning of year</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(213</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(131)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;New inception gains
(losses)<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">47</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(37)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Change resulting from amended contract<SUP
STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">190</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Change in foreign exchange rates</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(10)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Amortization recorded in net earnings during the
year</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(35)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Unamortized net
gain (loss) at end of year</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(213)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">During 2024 and 2023, the Company entered into long-term fixed price power sale contracts with
certain of its U.S. customers that resulted in new inception losses due to the difference between the fixed PPA price and future estimated market prices. There are other key factors, such as project economics and incentives, that influence the
long-term power price for renewable projects outside of the power price curve, which is not liquid for the majority of the duration of the PPA. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">During 2023, the Company entered into certain contract amendments related to the Horizon Hill and
White Rock wind projects. These amendments were mainly specific to obtaining price increases over the contract term. Accordingly, certain inception loss calibration adjustments were recognized within the risk management liability.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F54&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4">15. Risk Management Activities </FONT></P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Risk Management Strategy </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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 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
risk&nbsp;tolerance. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has two primary streams of risk management activities: (i)&nbsp;financial exposure
management; and (ii)&nbsp;commodity exposure management. Within these activities, risks identified for management include commodity risk, interest rate risk, liquidity risk, equity price risk and foreign currency risk. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company seeks to minimize the effects of commodity risk, interest rate risk and foreign currency risk by using derivative
financial instruments to hedge risk exposures. Of these derivatives, the Company may apply hedge accounting to those hedging commodity price risk, interest rate risk and foreign currency risk. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The use of financial derivatives is governed by the Company&#8217;s policies approved by the Board, which provide written principles
on commodity risk, interest rate risk, liquidity risk, equity price risk and foreign currency risk, as well as the use of financial derivatives and <FONT STYLE="white-space:nowrap">non-derivative</FONT> financial instruments. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Liquidity risk, credit risk and equity price risk are managed through means other than derivatives or hedge accounting. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company enters into various derivative transactions as well as other contracting activities that do not qualify for hedge
accounting or where a choice was made not to apply hedge accounting. As a result, the related assets and liabilities are classified as derivatives at fair value through profit and loss. The net realized and unrealized gains or
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
losses from changes in the fair value of these derivatives are reported in net earnings in the period the change&nbsp;occurs. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company designates certain derivatives as hedging instruments to hedge commodity price risk, foreign currency exchange risk in
cash flow hedges and hedges of net investments in foreign operations. Hedges of foreign exchange risk on firm commitments are accounted for as cash flow hedges. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At the inception of the hedge relationship, the Company documents the relationship between the hedging instrument and the hedged
item, along with its risk management objectives and its strategy for undertaking various hedge transactions. At the inception of the hedge and on an ongoing basis, the Company also documents whether the hedging instrument is effective in offsetting
changes in fair values or cash flows of the hedged item attributable to the hedged risk, which is when the hedging relationships meet all of the following hedge effectiveness&nbsp;requirements: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="12" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">There is an economic relationship between the hedged item and the hedging instrument;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="12" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The effect of credit risk does not dominate the value changes that result from that economic
relationship; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="12" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the
hedged item that the Company actually hedges and the quantity of the hedging instrument that the entity actually uses to hedge that quantity of hedged item. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">If a hedging relationship ceases to meet the hedge effectiveness requirement relating to the hedge ratio, but the risk management
objective for that designated hedging relationship remains the same, the Company adjusts the hedge ratio of the hedging relationship so that it continues to meet the qualifying criteria.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F55</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Net Risk Management Assets and Liabilities </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Aggregate net risk management assets (liabilities) are as&nbsp;follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="66%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="12" NOWRAP STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8194;As at Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Cash&nbsp;flow</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>hedges</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Not</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>designated</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>as&nbsp;a&nbsp;hedge</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;Total&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8194;Commodity risk management</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>53&#8201;&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(220</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(220)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8194;Net commodity
risk management assets (liabilities)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(212</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(167)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8194;Other</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(12)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>8&#8201;&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8194;Net other
risk management liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(4)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8194;Total net
risk management assets (liabilities)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(216</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(171)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="13"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="12" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8194;As at Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Cash flow<BR>hedges</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Not<BR>designated<BR>as a hedge</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Commodity risk management</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(125</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(178)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(146</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(226)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Net commodity risk
management liabilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(205</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(199</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(404)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15&#8201;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4&#8201;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Net other risk
management liabilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">19&#8201;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Total net risk
management liabilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(205</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(180</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(385)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F56&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Netting Arrangements </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Information about the Company&#8217;s financial assets and liabilities that are subject to enforceable master netting arrangements
or similar agreements is as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="46%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>&#8194;As at Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>Gross&nbsp;amounts<BR>of
recognized<BR>financial&nbsp;assets<BR>(liabilities)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Amounts<BR>set off</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>Net&nbsp;amounts<BR>included&nbsp;on<BR>the&nbsp;statement<BR>of&nbsp;
financial<BR>position</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>Master
netting<BR>arrangements<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>Net&nbsp;amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Current risk management assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>686</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(421</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>265</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>247&#8201;&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Long-term risk management assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>153</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>94</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>93&#8201;&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Current risk management liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(662</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>421</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(241</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(223)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Long-term risk management liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(128</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(69</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(68)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Trade and other receivables<SUP STYLE="font-size:75%; vertical-align:top">(2)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1,519</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1,273</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>246</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>239&#8201;&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Accounts payable and accrued</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1,470</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1,273</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(197</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(190)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>&#8194;As at Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>Gross amounts<BR>of recognized<BR>financial assets<BR>(liabilities)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Amounts<BR>set off</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>Net amounts<BR>included on<BR>the statement<BR>of financial<BR>position</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>Master
netting<BR>arrangements<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>Net amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Current risk management assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">528</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(355</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">173</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">166&#8201;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Long-term risk management assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">161</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(91</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">70</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">68&#8201;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Current risk management liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(504</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">355</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(149</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(142)</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Long-term risk management liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(145</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">91</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(54</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(52)</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Trade and other receivables<SUP STYLE="font-size:75%; vertical-align:top">(2)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">789</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(646</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">132&#8201;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Accounts payable and accrued</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(760</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">646</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(114</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(103)</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Amounts not set off in the Consolidated Statements of Financial Position.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The trade and other receivables and accounts payable and accrued liabilities include amounts related
to collateral provided and held. Refer to Note 15(F) below for further details. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F57</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Nature and Extent of Risks Arising from Financial Instruments </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Market Risk </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>a.
Commodity Price Risk Management </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has exposure to movements in certain commodity prices in both its
electricity generation and proprietary trading businesses, including the market price of electricity and fuels used to produce electricity. Most of the Company&#8217;s electricity generation and related fuel supply contracts are considered to be
contracts for delivery or receipt of a <FONT STYLE="white-space:nowrap">non-financial</FONT> item in accordance with the Company&#8217;s expected own use requirements and are not considered to be financial instruments. As such, the discussion
related to commodity price risk is limited to the Company&#8217;s proprietary trading business, VPPAs and other long-term contracts that are derivatives and commodity derivatives used in hedging relationships associated with the Company&#8217;s
electricity generating&nbsp;activities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">To mitigate the risk of adverse commodity price changes, the Company uses three
tools: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">A framework of risk controls; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">A predefined hedging plan, including fixed price financial power swaps and long-term physical power
sale contracts to hedge commodity price for electricity generation; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">A committee dedicated to overseeing the risk and compliance program in trading and ensuring the
existence of appropriate controls, processes, systems and procedures to monitor adherence to the program. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company has executed commodity price hedges for its Centralia thermal facility, including a long-term physical power sale contract, and may, at times, execute hedges for its electricity price exposure in Alberta using fixed
price financial swaps or other similar instruments. Both hedging strategies fall under the Company&#8217;s risk management strategy used to hedge commodity price risk. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Market risk exposures are measured using Value at Risk (VaR) supplemented by sensitivity analysis. There has been no change to the
Company&#8217;s exposure to market risks or the manner in which these risks are managed or measured. Position sizes and trade strategies were adjusted to remain within the Company&#8217;s risk framework.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>i. Commodity Price Risk Management &#8211; Proprietary Trading </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In compliance with the Company&#8217;s Commodity Exposure
Management Policy, proprietary trading activities are subject to limits and controls, including VaR limits. The Board approves the limit for total VaR from proprietary trading activities. VaR is the most commonly used metric employed to track and
manage the market risk associated with trading positions. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A VaR measure gives, for a specific confidence level, an
estimated maximum <FONT STYLE="white-space:nowrap">pre-tax</FONT> loss that could be incurred over a specified period of time. VaR is used to determine the potential change in value of the Company&#8217;s proprietary trading portfolio, over a <FONT
STYLE="white-space:nowrap">three-day</FONT> period within a 95&nbsp;per cent confidence level, resulting from normal market fluctuations. VaR is estimated using the historical variance/ covariance approach. This measure has inherent limitations. VaR
relies on historical data, assuming that past price movements will reflect future market risks. Consequently, it may only be meaningful under normal market conditions and does not account for extreme market events. In addition, the use of a <FONT
STYLE="white-space:nowrap">three-day</FONT> measurement period implies that positions can be unwound or hedged within three days, although this may not be possible if the market becomes illiquid. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Changes in market prices associated with proprietary trading activities affect net earnings in the period that the price changes
occur. VaR at Dec. 31, 2024, associated with the Company&#8217;s proprietary trading activities was $3&nbsp;million (2023 &#8212; $4&nbsp;million, 2022 &#8212; $4&nbsp;million). <B> </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>ii. Commodity Price Risk &#8211; Generation </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The generation segments utilize various commodity contracts to manage the commodity price risk associated with electricity
generation, fuel purchases, emissions and byproducts, as considered appropriate. A Commodity Exposure Management Policy is prepared and approved annually, which outlines the intended hedging strategies associated with the Company&#8217;s generation
assets and related commodity price risks. Controls also include restrictions on authorized instruments, management reviews on individual portfolios and approval of asset transactions that could add potential volatility to the Company&#8217;s
reported net&nbsp;earnings. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F58&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">VaR at Dec. 31, 2024, associated with the Company&#8217;s commodity derivative
instruments used in generation hedging activities was $8&nbsp;million (2023 &#8212; $23&nbsp;million, 2022 &#8212; $97&nbsp;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 in the period in which the price
change occurs. VaR at Dec. 31, 2024, associated with these transactions was $13&nbsp;million (2023 &#8212; $16&nbsp;million, 2022 &#8212; $45&nbsp;million).
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the market risk related to long-term power sale and long-term wind energy sales
contracts, refer to the Level III measurements table and the related unobservable inputs and sensitivities in Note 14(B)(II). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>iii.
Commodity Price Risk Management &#8211; Hedges </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Dec. 31, 2024, the Company had no outstanding commodity derivative
instruments designated as hedging instruments, except for the long-term power sale - U.S. contract. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>iv. Commodity Price Risk
Management &#8211; <FONT STYLE="white-space:nowrap">Non-Hedges</FONT> </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s outstanding commodity
derivative instruments not designated as hedging instruments are as&nbsp;follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="60%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8194;As at Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8194;Type</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8194;(thousands)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Notional<BR>amount<BR>sold</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Notional<BR>amount<BR>purchased</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Notional<BR>amount<BR>sold</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Notional<BR>amount<BR>purchased</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Electricity (MWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;47,593</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8,416</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">54,043</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">12,628</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Natural gas (GJ)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,122</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>79,194</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">50,949</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">209,348</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Transmission (MWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>292</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">856</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Emissions (MWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>167</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>370</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">212</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">804</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Emissions (tonnes)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,850</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>150</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4,450</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5,125</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Coal
(tonnes)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,728</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5,172</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F59</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>b. Interest Rate Risk Management </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Changes in interest rates can impact the Company&#8217;s borrowing costs and cost of capital. Changes in the cost of capital could
affect the feasibility of new growth initiatives. Interest rate risk also arises as the fair value of future cash flows from a financial instrument fluctuates due to changes in market interest rates. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s syndicated credit facility, Term Facility, Heartland Term Facility and the Poplar Creek <FONT
STYLE="white-space:nowrap">non-recourse</FONT> bond are subject to floating interest rates, which represent 23&nbsp;per cent of the Company&#8217;s total long-term debt as at Dec.&nbsp;31, 2024 (2023 &#8212; 14 per cent). Interest rate risk is
managed with the use of derivatives. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, the Company had interest rate swap agreements in place with a notional
amount of $190&nbsp;million, which are not designated as hedges, whereby the Company receives a variable rate of interest equal to the three-month CORRA rate plus a 0.321&nbsp;per cent premium, and pays interest at a fixed rate equal to a weighted
average of 1.64&nbsp;per cent on the notional amount. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The term and credit facilities with $545&nbsp;million outstanding
(2023 &#8212; $400&nbsp;million) reference Canadian Overnight Repo Rate Average (CORRA) for Canadian-dollar drawings, which replaced the Canadian Dollar Offered Rate (CDOR) on July&nbsp;1, 2024 as part of Interbank Offered Rate reform. The Poplar
Creek <FONT STYLE="white-space:nowrap">non-recourse</FONT> bond with a face value as at Dec. 31, 2024 of $76&nbsp;million (2023 &#8212; $86&nbsp;million) pays interest based upon the three-month CORRA. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>c. Currency Rate Risk </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company has exposure to various currencies, such as the U.S. dollar and the Australian dollar, as a result of investments and operations in foreign jurisdictions, the net earnings from those operations and the acquisition of
equipment and services from foreign suppliers. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company may enter into the following hedging strategies to mitigate
currency rate risk, including: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Foreign exchange forward contracts to mitigate adverse changes in foreign exchange rates on
project-related
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left" COLOR="#636466">&nbsp;</TD>
<TD WIDTH="1">&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">
expenditures and foreign&nbsp;currencies; distributions received in foreign currencies; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Foreign exchange forward contracts and cross-currency swaps to manage foreign exchange exposure on
foreign-denominated debt not designated as a net investment hedge; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Designating foreign currency debt as a hedge of the net investment in foreign operations to
mitigate the risk due to fluctuating exchange rates related to certain foreign&nbsp;subsidiaries. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Company&#8217;s target is to hedge a minimum of 60&nbsp;per cent of our forecasted foreign operating cash flows over a four-year period. The U.S. exposure is managed with a combination of interest expense on our U.S. dollar denominated debt and
forward foreign exchange contracts and the Australian exposure is managed with a combination of interest expense on Australian-dollar denominated debt and forward foreign exchange contracts. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>i. Net Investment Hedges </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">When designating foreign currency debt as a hedge of the Company&#8217;s net investment in foreign subsidiaries, the Company has determined that the hedge is effective if the foreign currency of the net investment is the same as the
currency of the hedge and therefore an economic relationship is present. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s hedges of its net
investment in foreign operations were comprised of U.S.-dollar-denominated long-term debt with a face value of US$300&nbsp;million (2023 &#8212; US$370&nbsp;million). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>ii. <FONT STYLE="white-space:nowrap">Non-Hedges</FONT> </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company also uses foreign currency contracts to manage its expected foreign operating cash flows and foreign exchange forward
contracts to manage foreign exchange exposure on foreign-denominated debt not designated as a net investment hedge. Hedge accounting is not applied to these foreign currency&nbsp;contracts.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F60&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="11%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="10%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="3" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Notional</B></FONT><br><FONT COLOR="#171a5f"><B>amount</B></FONT><br><FONT COLOR="#171a5f"><B>sold</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notional</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>amount</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>purchased</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Fair&nbsp;value</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>(liability)</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>asset</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Maturity</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notional</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>amount</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>sold</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Notional<BR>amount<BR>purchased</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Fair&nbsp;value</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>(liability)</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>asset</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Maturity&#8201;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5" COLSPAN="15"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="15"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange forward contracts &#8211; foreign-denominated
receipts/expenditures</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" ALIGN="right"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#636466"><B>AUD14</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>CAD10</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1)</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2025-2028</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">AUD125</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">CAD113</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1)</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2024-2027&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" ALIGN="right"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#636466"><B>USD419</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>CAD585</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(13)</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2025-2028</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">USD828</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">CAD1,113</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2024-2027&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" ALIGN="right"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#636466"><B>USD101</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>AUD153</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(9)</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2025</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">USD100</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">AUD152</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2024&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="9" COLSPAN="15"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="15"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange forward contracts &#8211; foreign-denominated debt</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#636466"><B>CAD192</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>USD140</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">CAD190</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">USD140</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">(4)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">2024&#8201;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#171a5f"><B>iii. Impacts of Currency Rate Risk</B> </FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The possible effect on net earnings and OCI, due to changes in foreign exchange rates associated with financial instruments
denominated in currencies other than the Company&#8217;s functional currency, is outlined below. The&nbsp;sensitivity analysis has been prepared using management&#8217;s assessment that an average three cents
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
(2023 &#8212; three cents, 2022 &#8212; three cents) increase or decrease in these currencies relative to the Canadian dollar is a reasonable potential change over the next&nbsp;quarter.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="29%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year&nbsp;ended&nbsp;Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Currency</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Net&nbsp;earnings<BR>decrease<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>OCI&nbsp;gain<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Net&nbsp;earnings<BR>decrease<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>OCI&nbsp;gain<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Net&nbsp;earnings<BR>decrease<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>OCI&nbsp;gain<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP>&#8201;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;USD</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)</B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;AUD</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)</B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#efefef">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#efefef">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">&#8199;<B>Total</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)</B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These calculations assume an increase in the value of these currencies relative to the Canadian
dollar. A decrease would have the opposite effect. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The foreign exchange impact related to financial instruments designated as hedging instruments in
net investment hedges has been excluded. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Credit Risk </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Credit risk is the risk that customers or counterparties will cause a financial loss for the Company by failing to discharge their
obligations and the risk to the Company associated with changes in creditworthiness of entities with which commercial exposures exist. The Company actively manages its exposure to credit risk by assessing the ability of counterparties to fulfil
their obligations under the related contracts before entering into such contracts. The Company makes detailed assessments of the credit quality of all counterparties and, where appropriate, obtains corporate guarantees, cash collateral, third-party
credit insurance and/or letters of credit to support the ultimate collection of these receivables. For commodity trading and origination, the Company sets strict
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
credit limits for each counterparty and monitors exposures on a daily basis. TransAlta uses standard agreements that allow for the netting of exposures and often include margining provisions. If
credit limits are exceeded, TransAlta will request collateral from the counterparty or halt trading activities with the counterparty. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company uses external credit ratings, as well as internal ratings in circumstances where external ratings are not available, to establish credit limits for customers and counterparties. The following table outlines the
Company&#8217;s maximum exposure to credit risk without taking into account collateral held, including the distribution of credit ratings, as at Dec. 31, 2024:
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F61</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Investment&nbsp;grade<BR>(per&nbsp;cent)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-investment&nbsp;grade</FONT><BR>(per&nbsp;cent)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total<BR>(per&nbsp;cent)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total<BR>amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Trade and other receivables<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">87</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>767</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>305</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Risk management assets<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">58</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>411</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Loans receivable<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>25</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,508</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Letters of credit and cash and cash equivalents are the primary types of collateral held as
security related to these amounts. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes $25&nbsp;million loans receivable included within other assets with counterparties that
have no external credit rating. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">An impairment analysis is performed at each reporting date using a provision matrix
to measure expected credit losses. The provision rates are based on segment historical rates of default of trade receivables as well as incorporating forward-looking credit ratings and forecasted default rates. In addition to the calculation of
expected credit losses, TransAlta monitors key forward-looking information as potential indicators that historical bad debt percentages, forward-looking S&amp;P credit ratings and forecasted default rates would no longer be representative of future
expected credit losses. The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of
future economic conditions. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta evaluates the concentration of risk with respect to trade receivables as
low, as its customers are located in several jurisdictions and industries. The Company did not have material expected credit losses as at Dec. 31, 2024. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s maximum exposure to credit risk at Dec. 31, 2024, without taking into account collateral held or right of <FONT
STYLE="white-space:nowrap">set-off,</FONT> is represented by the current carrying amounts of receivables and risk management assets as per the Consolidated Statements of Financial Position. Letters of credit and cash are the primary types of
collateral held as security related to these amounts. The maximum credit exposure to any one customer for commodity trading operations and hedging, including the fair value of open trading, net of any collateral held, at Dec. 31, 2024, was
$77&nbsp;million (Dec. 31, 2023 &#8211; $23 million). </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F62&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>III. Liquidity Risk </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. As at Dec. 31, 2024, TransAlta maintains an investment grade rating from one credit rating agency and one notch below investment grade ratings from two credit rating
agencies. Between 2025 and 2027, the Company has $400&nbsp;million of debt maturing, and an additional $666&nbsp;million of scheduled <FONT STYLE="white-space:nowrap">non-recourse</FONT> debt and tax equity principal payments.&#8195; </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Collateral is posted based on negotiated terms with counterparties, which can include the Company&#8217;s senior unsecured credit
rating as determined by certain major credit rating agencies. Some of the Company&#8217;s derivative instruments contain financial assurance provisions that
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
require collateral to be posted only if a material adverse credit-related event occurs. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta manages liquidity risk by monitoring liquidity on trading positions; preparing and revising longer-term financing plans to reflect changes in business plans and the market availability of capital; reporting liquidity risk
exposure for proprietary trading activities on a regular basis to the Risk Management Committee, senior management and the Audit, Finance and Risk Committee (on behalf of the Board); and maintaining sufficient undrawn committed credit lines to
support potential liquidity requirements. The Company does not use derivatives or hedge accounting to manage liquidity risk. A maturity analysis of the Company&#8217;s financial liabilities is as&nbsp;follows:
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2026</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2027</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2028</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2029</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2030 and<BR>thereafter</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Bank overdraft</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Accounts payable, accrued liabilities and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">756</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">756&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">current liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Long-term debt<SUP STYLE="font-size:75%; vertical-align:top">(1)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Credit facilities<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">145</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">545&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Debentures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">110</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">141</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">251&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Senior notes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">575</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">431</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,006&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-recourse</FONT> &#8211; Hydro</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">39&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-recourse</FONT> &#8211; Wind&nbsp;&amp;
Solar</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">74</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">248</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">570&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-recourse</FONT> and other &#8211; Gas</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">58</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">65</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">66</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">74</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">628</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">952&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-recourse</FONT> Heartland term facility</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">176</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">224&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Tax equity financing</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">105&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Exchangeable securities<SUP STYLE="font-size:75%; vertical-align:top">(2)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">750</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">750&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Commodity risk management (assets)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(55</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">177</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">167&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">liabilities<SUP STYLE="font-size:75%; vertical-align:top">(3)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other risk management (assets) liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lease liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">127</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">151&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Interest on long-term debt and lease</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">205</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">178</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">169</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">151</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">136</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">649</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,488&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">liabilities<SUP STYLE="font-size:75%; vertical-align:top">(4)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Interest on exchangeable securities<SUP
STYLE="font-size:75%; vertical-align:top">(2)(4) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">223&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6" COLSPAN="3"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="3" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Dividends payable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" COLSPAN="3" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="3" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4">Total</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,590</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>418</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>571</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>528</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>982</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,192</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>7,281&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Excludes impact of hedge accounting and derivatives. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The exchangeable debentures are due May&nbsp;1, 2039 and the exchangeable preferred shares are
perpetual. However, a cash payment could occur after Dec. 31, 2028, at the Company&#8217;s option, if the exchangeable securities are not exchanged by Brookfield Renewable Partners or its affiliates (collectively Brookfield). At Brookfield&#8217;s
option, the exchangeable securities are currently exchangeable into an equity ownership interest in TransAlta&#8217;s Alberta Hydro Assets. (Note 26). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Negative amount represents a receivable position or cash inflow. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Not recognized as a financial liability on the Consolidated Statements of Financial Position and
excludes the impact of interest rate swaps. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F63</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>IV. Equity Price Risk </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total Return Swaps </B></FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company has certain compensation, deferred and restricted share unit programs, the values of which depend on the common share price of the Company. The Company has fixed a portion of the settlement cost of
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
these programs by entering into a total return swap for which hedge accounting has not been applied. The total return swap is cash settled every quarter based upon the difference between the
fixed price and the market price of the Company&#8217;s common shares at the end of each quarter. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>D. Hedging Instruments
&#8211; Uncertainty of Future Cash Flows </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table outlines the terms and conditions of derivative hedging
instruments and how they affect the amount, timing and uncertainty of future cash flows: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="62%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="22" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Maturity</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;2026</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;2027</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;2028</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;2029</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;2030</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow hedges</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Commodity derivative instruments</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;Electricity</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;&#8194;Notional amount (thousands of MWh)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,628</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8194;&#8194;Average price ($ per MWh)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">86.25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>E. Effects of Hedge Accounting on Financial Position and Performance </B></FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Effect of Hedges </B></FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The impact of the hedging instruments on the statement of financial position is as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="29%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Notional<BR>amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;Carrying<BR>amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Line&nbsp;item&nbsp;in&nbsp;the&nbsp;statement&nbsp;of</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>financial&nbsp;position</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Change&nbsp;in&nbsp;fair&nbsp;value</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>used&nbsp;for&nbsp;measuring</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>ineffectiveness</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Commodity price risk</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="2"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow hedges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="2"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Physical power sales<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2,628</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>Risk management assets</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>114</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="2"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Foreign currency risk</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="2"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net investment hedges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="2"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Foreign-denominated
debt</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>USD300</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>CAD431</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>Credit facilities, long-term debt and lease liabilities</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2.00em; text-indent:-2.00em; font-size:7pt; font-family:arial" ALIGN="justify"><FONT COLOR="#171a5f">(1)&#8194;&#8202;In thousands of MWh.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F64&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="33%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="31%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Notional<BR>amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Carrying<BR>amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Line&nbsp;item&nbsp;in&nbsp;the&nbsp;statement&nbsp;of<BR>financial&nbsp;position</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Change&nbsp;in&nbsp;fair&nbsp;value</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>used&nbsp;for&nbsp;measuring</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>ineffectiveness</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Commodity price risk</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="2"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow hedges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="2"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Physical power sales<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5,966</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(205</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">Risk management liabilities</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(114</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="2"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Foreign currency risk</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="2"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net investment hedges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="2"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Foreign-denominated
debt</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">USD370</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">CAD489</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Credit facilities, long-term debt and lease liabilities</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">In thousands of MWh. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The impact of the hedged items on the statement of financial position is as follows: </FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="36%"></TD>

<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024&#8195;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023&#8195;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Change&nbsp;in&nbsp;fair&nbsp;value</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>used&nbsp;for&nbsp;measuring</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>ineffectiveness</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Cash&nbsp;flow</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>hedge</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>reserve<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Change&nbsp;in&nbsp;fair&nbsp;value</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>used&nbsp;for&nbsp;measuring<BR>ineffectiveness</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Cash&nbsp;flow</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>hedge</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>reserve<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Commodity price risk</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow hedges</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Power forecast sales &#8211;
Centralia</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>114</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>65</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(114</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(129</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Change in fair
value</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>used for measuring</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>ineffectiveness</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Foreign</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>currency</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>translation</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>reserve<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Change in fair
value</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>used for measuring</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>ineffectiveness</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Foreign</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>currency</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>translation</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>reserve<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Foreign currency risk</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net investment hedges</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Net investment in foreign
subsidiaries</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1.00pt solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1.00pt solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #000000;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #000000;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1.00pt solid #000000;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net of tax. Included in AOCI. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The hedging gain or loss recognized in OCI before tax is equal to the change in fair value used for measuring effectiveness for the
net investment hedge. Ineffectiveness of $4&nbsp;million in <FONT STYLE="white-space:nowrap">after-tax</FONT> losses was reclassified from OCI to net earnings during the year ended Dec. 31, 2024. </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="20%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="53%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="top" COLSPAN="7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The impact of designated cash flow hedges on OCI and net earnings is:</FONT></P>
<P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="21%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Effective&nbsp;portion</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Ineffective&nbsp;portion</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;Derivatives&nbsp;in&nbsp;cash&nbsp;flow</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8.5pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>&#8199;hedging relationships</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Pre-tax</FONT><BR>gain<BR>recognized<BR>in&nbsp;OCI</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Location&nbsp;of&nbsp;gain<BR>reclassified from&nbsp;OCI</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Pre-tax</FONT><BR>(gain)&nbsp;loss<BR>reclassified<BR>from&nbsp;
OCI</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Location&nbsp;of&nbsp;(gain)&nbsp;loss<BR>reclassified&nbsp;from&nbsp;OCI</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Pre-tax</FONT><BR>(gain)&nbsp;loss<BR>recognized<BR>in&nbsp;
earnings</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Commodity contracts</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>270</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>(15)</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Forward starting interest rate swaps</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(8)</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>OCI impact</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>270</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B>OCI
impact</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(23)</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B>Net earnings
impact</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F65</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Over the next 12 months, the Company estimates that approximately $28&nbsp;million of
<FONT STYLE="white-space:nowrap">after-tax</FONT> losses will be reclassified from AOCI to net earnings. These estimates assume constant natural gas and power prices, interest rates
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
and exchange rates over time; however, the actual amounts that will be reclassified may vary based on changes in these factors.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="16%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="20%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="16" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Effective&nbsp;portion</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Ineffective&nbsp;portion</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Derivatives&nbsp;in&nbsp;cash&nbsp;flow</B></FONT><br><FONT COLOR="#171a5f"><B>hedging&nbsp;relationships</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Pre-tax</FONT><BR>gain&nbsp;(loss)<BR>recognized<BR>in OCI</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Location&nbsp;of&nbsp;(gain)</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>loss&nbsp;reclassified<BR>from&nbsp;OCI</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Pre-tax</FONT><BR>(gain)&nbsp;loss<BR>reclassified<BR>from&nbsp;OCI</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Location&nbsp;of&nbsp;(gain)&nbsp;loss<BR>reclassified&nbsp;from&nbsp;OCI</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Pre-tax</FONT><BR>(gain)&nbsp;loss<BR>recognized<BR>in&nbsp;earnings</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Commodity contracts</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Revenue</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Revenue</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Forward&nbsp;starting&nbsp;interest</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">rate swaps</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Interest&nbsp;expense</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Interest expense</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">OCI impact</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">OCI impact</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Net earnings impact</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="17"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="16" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31, 2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Effective&nbsp;portion</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Ineffective&nbsp;portion</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Derivatives&nbsp;in&nbsp;cash flow</B></FONT><br><FONT COLOR="#171a5f"><B>hedging relationships</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Pre-tax</FONT><BR>gain&nbsp;(loss)<BR>recognized<BR>in OCI</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Location&nbsp;of</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>(gain) loss<BR>reclassified<BR>from&nbsp;OCI</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Pre-tax</FONT><BR>(gain)&nbsp;loss<BR>reclassified<BR>from&nbsp;
OCI</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Location&nbsp;of&nbsp;(gain)&nbsp;loss<BR>reclassified from&nbsp;OCI</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Pre-tax</FONT><BR>(gain)&nbsp;loss<BR>recognized<BR>in&nbsp;
earnings</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Commodity contracts</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(747</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Revenue</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">124</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Revenue</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Forward&nbsp;starting&nbsp;interest</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">rate swaps</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Interest&nbsp;expense</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Interest expense</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">OCI impact</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(694</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">OCI impact</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">126</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Net earnings impact</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Effect of <FONT STYLE="white-space:nowrap">Non-Hedges</FONT> </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31, 2024, the Company recognized a net unrealized loss of $7&nbsp;million (2023 &#8212; loss of
$44&nbsp;million, 2022 &#8212; loss of $384 million) related to commodity derivatives. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31, 2024,
a loss of $63&nbsp;million (2023 &#8212; gain of $11&nbsp;million, 2022 &#8212; gain of $20&nbsp;million) related to foreign exchange and other derivatives was recognized, which consists of net unrealized losses of $36&nbsp;million (2023 &#8212;
gain of $27&nbsp;million, 2022 &#8212; loss of $11&nbsp;million) and net realized losses of $27&nbsp;million (2023 &#8212; loss of $16&nbsp;million, 2022 &#8212; gains of $31&nbsp;million),&nbsp;respectively.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
</div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F66&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>F. Collateral </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Financial Assets Provided as Collateral </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Dec. 31, 2024, the Company provided $124&nbsp;million (Dec. 31, 2023 &#8212; $145 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 within trade and other receivables in the Consolidated
Statements of Financial Position. At Dec. 31, 2024, the Company provided $21&nbsp;million (Dec. 31, 2023 &#8212; $19 million) in surety bonds as security for commodity trading activities. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Financial Assets Held as Collateral </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Dec. 31, 2024, the Company held $9&nbsp;million (Dec. 31, 2023 &#8212; $9 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
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
contract. Collateral held is related to physical and financial derivative transactions in a net asset position and is included in accounts payable and accrued liabilities in the Consolidated
Statements of Financial&nbsp;Position. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>III. Contingent Features in Derivative Instruments </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Dec. 31, 2024, the Company had posted collateral of $424&nbsp;million (Dec.&nbsp;31, 2023 &#8212; $392 million) in the form of
letters of credit on physical and financial derivative transactions in a net liability position.&nbsp;Certain derivative agreements contain credit-risk-contingent features, which if triggered could result in the Company having to post an additional
$128&nbsp;million (Dec. 31, 2023 &#8212; $154 million) of collateral to its counterparties. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>16. Inventory
</B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The components of inventory are as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="78%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Parts, materials and supplies</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">72</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Coal</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Emission credits</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">45</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Natural gas</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">Total</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>134</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">157</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">No inventory was pledged as security for liabilities. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Dec. 31, 2024, the Company holds 460,585 emission credits in inventory that were purchased externally with a recorded book
value of $18&nbsp;million (Dec. 31, 2023 &#8212;&nbsp;962,548 emission credits with a recorded book value of $45&nbsp;million). The Company also has 2,109,491 (Dec. 31, 2023 &#8212; 3,121,837) of internally generated eligible emission credits from
the Company&#8217;s Wind and Solar and Hydro segments that have no recorded book value. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Emission credits can be sold
externally or can be used to offset future emission obligations from our gas facilities located in Alberta, where the compliance price of carbon is expected to increase, resulting in a reduced cash cost for carbon compliance in the year of
settlement. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the second quarter of 2024, the Company used 978,894 emission credits with a
carrying value of $22&nbsp;million to settle a portion of the 2023 carbon compliance obligation. This resulted in the Company recognizing a reduction of $42&nbsp;million in carbon compliance costs. The compliance price of carbon for the 2023
obligation settled was $65 per tonne. It increased to $80 per tonne in 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the second quarter of 2023, the
Company settled the 2022 carbon compliance obligation in cash. The compliance price of carbon for the 2022 obligation settled was $50 per tonne.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="10%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="34%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F67</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>17. Finance Lease Receivables </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Amounts receivable under the Company&#8217;s finance leases include the Mount Keith 132kV expansion (2024), Northern Goldfields
solar facilities (2024 and 2023), the Poplar Creek cogeneration facility (2024 and 2023), the Muskeg River and the Primrose cogeneration plants (2024)&nbsp;and are as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="56%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Minimum<BR>lease<BR>receipts</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Present&nbsp;value<BR>of&nbsp;minimum<BR>lease<BR>receipts</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Minimum<BR>lease<BR>receipts</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Present&nbsp;value<BR>of minimum<BR>lease<BR>receipts</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8201;Within one year</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>47</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8201;Second to fifth years inclusive</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>185</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>159</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">112</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">98</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;More than five years</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>247</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>129</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">117</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">64</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>480</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>335</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">257</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">190</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8201;Less: unearned finance lease income</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>146</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">67</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8201;Add: unguaranteed residual value</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4">&#8201;Total finance lease receivables</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>335</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>335</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">190</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">190</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="32"></TD>
<TD HEIGHT="32" COLSPAN="4"></TD>
<TD HEIGHT="32" COLSPAN="4"></TD>
<TD HEIGHT="32" COLSPAN="4"></TD>
<TD HEIGHT="32" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;Included in the Consolidated Statements of Financial Position as:</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8201;Current portion of finance lease receivables (Note&nbsp;13)</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8201;Long-term portion of finance lease receivables</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>305</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">171</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4">&#8201;Total finance lease receivables</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>335</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">190</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the first quarter of 2024, the Mount Keith 132kV expansion was completed. As a
result, the Company derecognized assets under construction and recognized a finance lease receivable of $48&nbsp;million. On Dec. 4, 2024, as
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
part of the Heartland acquisition, the Company recognized current and <FONT STYLE="white-space:nowrap">non-current</FONT> finance lease receivables of $8&nbsp;million and $107&nbsp;million,
respectively (refer to Note 4 for details). </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>18. Assets Held for Sale
</B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The change in assets held for sale is as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8201;As at Jan. 1</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8201;Additions from acquisition of Heartland on Dec. 4, 2024 (Note 4)</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Balance, Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F68&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>19. Property, Plant and Equipment </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A reconciliation of the changes in the carrying amount of PP&amp;E is as follows: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="46%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Assets&nbsp;under<BR>construction</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Land</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;and<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas<BR>generation</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Capital&nbsp;spares<BR>and&nbsp;other<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Cost</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;As at Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">963</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">93</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">840</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,233</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4,530</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,974</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">379</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">14,012</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Additions<SUP STYLE="font-size:75%; vertical-align:top">(2)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">869</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">875</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Disposals</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(30</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Impairment reversals (Note 7)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Changes to decommissioning and restoration</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(22</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Retirement of assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(18</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(124</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(108</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(264</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Change in foreign exchange rates</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(18</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(42</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(94</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Transfers of assets<SUP STYLE="font-size:75%; vertical-align:top">(3)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(572</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">439</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Transfers to
finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;As at Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,234</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">90</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">884</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,593</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4,423</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,914</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">306</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">14,444</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Additions<SUP STYLE="font-size:75%; vertical-align:top">(2)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>279</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>311</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Acquisitions (Note 4)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>401</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>412</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Disposals</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Changes to decommissioning and restoration costs (Note 24)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Retirement of assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Change in foreign exchange rates</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>124</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>146</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>302</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Transfer to intangible assets (Note 21)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(163</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(163</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Transfers of assets<SUP STYLE="font-size:75%; vertical-align:top">(3)
</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1,432</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>43</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1,205</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>163</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Transfers to finance lease receivable (Note
17)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;As at Dec.
31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>120</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>90</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>933</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4,919</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4,782</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4,071</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>337</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>15,252</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Accumulated depreciation</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;As at Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">478</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,228</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,812</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,744</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">194</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">8,456</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Depreciation</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">129</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">342</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">73</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">585</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Retirement of assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(101</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(108</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(235</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Disposals</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(30</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(30</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Change in foreign exchange rates</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(39</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(47</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Transfers of assets<SUP
STYLE="font-size:75%; vertical-align:top">(3) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;As at Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">499</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,337</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,049</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,743</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">102</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">8,730</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Depreciation</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>170</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>221</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>518</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Retirement of assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Disposals</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Change in foreign exchange rates</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>138</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>162</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Transfer to
intangible assets (Note 21)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;As at Dec.
31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>527</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,521</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,113</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,941</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>130</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>9,232</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Carrying amount</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;As at Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">963</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">93</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">362</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,005</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,718</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">230</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">185</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5,556</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;As at Dec. 31,
2023</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,234</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">90</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">385</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2,256</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,374</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">171</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">204</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5,714</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;As at Dec.
31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>120</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>90</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>406</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,398</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,669</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>130</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>207</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>6,020</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes major spare parts and standby equipment available, but not in service.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">In 2024, the Company capitalized $16&nbsp;million (2023 &#8212; $57 million) of interest to PP&amp;E
at a weighted average rate of 6.52&nbsp;per cent (2023 &#8212; 6.3 per cent). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes transfers of assets upon commissioning to assets in service and other movements.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F69</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Assets under Construction </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the year, the Company achieved commercial operations at the White Rock and Horizon Hill wind facilities. Costs were
transferred from assets under construction to the Wind and Solar segment. As outlined in Note 17, $48&nbsp;million related to the Mount Keith 132kV expansion was derecognized from assets under construction and recognized as a finance lease
receivable in the first quarter of 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Change in Estimate &#8212; Useful Lives </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2024 and 2023, the Company adjusted the useful lives of certain assets in the Gas segment to reflect changes to the future
operating expectations of the assets. The adjustment
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
to the useful lives resulted in a decrease of $112&nbsp;million (2023 &#8212; $92&nbsp;million) in depreciation expense that was recognized in the Consolidated Statement of Earnings. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Mothballing of Sundance Unit 6 </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">During 2024, the Company announced it will temporarily mothball Sundance Unit 6 on April&nbsp;1, 2025 for a period of up to two years depending on market conditions. The Company maintains the flexibility to return the mothballed
unit to service when market fundamentals improve or opportunities to contract are secured. The unit remains available and fully operational for the first quarter of 2025.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>20. <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Right-of-Use</FONT></FONT> Assets </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company leases various properties and types of equipment. Lease contracts are
typically made for fixed periods. Leases are negotiated on an individual basis and contain a wide range of terms and conditions. </FONT></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The lease agreements do not impose covenants, but leased assets may not be used as
security for borrowing&nbsp;purposes. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A
reconciliation of the changes in the carrying amount of the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> assets is as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="59%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Land</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Buildings</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Vehicles</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Equipment</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;As at Dec. 31, 2022</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">126</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Additions</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Depreciation</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;Change in foreign exchange rates</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;As at Dec. 31, 2023</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">97</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">117</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Additions<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Depreciation</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Change in foreign exchange rates</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4">&#8201;As at Dec. 31, 2024</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>120</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Additions to buildings include
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> assets of $1&nbsp;million acquired from Heartland. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31, 2024, TransAlta paid $16&nbsp;million (2023 &#8212; $19
million) related to recognized lease liabilities, consisting of $6&nbsp;million (2023 &#8212; $10 million) of principal repayments and $10&nbsp;million (2023 &#8212;$9 million) of interest expense. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Short-term leases (term of less than 12 months) and leases with total lease payments below the Company&#8217;s capitalization
threshold (low value leases) do not require recognition as lease liabilities and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> assets. For the year ended Dec. 31, 2024, the Company expensed
$1&nbsp;million (2023 &#8212; $1&nbsp;million and 2022 &#8212; $2 million) related to short-term and low value leases.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Some of the Company&#8217;s land leases that met the definition of a lease were not
recognized as they require variable payments based on production or revenue. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Additionally, certain land leases require
payments to be made on the basis of the greater of the minimum fixed payments and variable payments based on production or revenue. For these leases, lease liabilities have been recognized on the basis of the minimum fixed payments. For the year
ended Dec. 31, 2024, the Company expensed $9&nbsp;million (2023 &#8212; $8&nbsp;million and 2022 &#8212; $8&nbsp;million) in variable land lease payments for these leases.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F70&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>21. Intangible Assets </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A reconciliation of the changes in the carrying amount of intangible assets is as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="47%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Power&nbsp;sale<BR>and
other<BR>contracts</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Software<BR>and&nbsp;other</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Intangibles&nbsp;under<BR>development</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Coal&nbsp;rights</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Total&#8201;</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cost</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">As at Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">272</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">437</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">132</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">868&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Additions</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">13&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges (Note 7)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign exchange rates</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(5)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Transfers</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">As at Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">270</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">446</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">132</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">875&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Additions</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Acquisitions (Note 4)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>57</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>57&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign exchange rates</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>13&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Transfers</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>22&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>As at Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>352</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>488</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>132</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>977&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Accumulated amortization</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">As at Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">158</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">326</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">132</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">616&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">38&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign exchange
rates</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">As at Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">174</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">346</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">132</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">652&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>38&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign exchange rates</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Transfers</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>As at Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>197</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>367</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">132</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>696&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Carrying amount</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">As at Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">114</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">111</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">252&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">As at Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">96</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">223&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt" BGCOLOR="#ffffff">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#ffffff" STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>As at Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>155</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>121</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>281&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F71</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>22. Goodwill </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Goodwill acquired through business combinations has been allocated to groups of CGUs that are expected to benefit from the
synergies of the acquisitions. Goodwill by segments is as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="82%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;As at Dec.&nbsp;31</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>2024</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>2023</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hydro</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>258</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">258</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind and Solar</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>178</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">176</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gas (Note 4)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Energy Marketing</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total goodwill</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>517</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">464</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Addition to goodwill in the Gas segment in 2024 represents the excess of the purchase
price over the estimated fair value of the net assets acquired in the business acquisition of Heartland. Refer to Note 4 for more details. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">For the purposes of the 2024 goodwill impairment review, the Company determined the recoverable amounts of the Wind and Solar segment by calculating the fair value less costs of disposal using discounted cash flow projections. In
2024, the Company relied on the recoverable amounts determined in 2022 for the Hydro and Energy Marketing segments in performing the 2024 goodwill impairment review. The recoverable amounts are based on the Company&#8217;s long-range forecasts for
the periods extending to the last planned asset retirement in 2072. The resulting fair value measurements are categorized within Level III of the fair value hierarchy. No impairment of goodwill arose for any segment. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The significant assumptions impacting the determination of fair value for the Wind and Solar segment, with a high degree of
subjectivity, are the following: </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Forecasts of sales prices for each facility are determined by taking into consideration contract
prices for facilities subject to long- or short-term contracts, forward price curves for merchant plants and regional supply-demand balances. Where forward price curves are not available for the duration of the facility&#8217;s useful life, prices
are determined by extrapolation techniques using historical industry and Company-specific data. Merchant electricity prices used in Wind and Solar models ranged between $40 to $225 per MWh during the forecast period (2023 &#8212; $35 to $238 per
MWh). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Discount rates used ranged from 6.4&nbsp;per cent to 7.3&nbsp;per cent (2023 &#8212; 6.4&nbsp;per
cent to 7.5 per cent). A 0.5&nbsp;per cent increase in the discount rate would not impact the results of the impairments tests performed. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The White Rock and the Horizon Hill wind facilities are subject to location-specific price basis,
sourced from third-party analysis. This analysis is based on models of the transmission system, including assumptions around potential system upgrades as well as forecasted generation and load in the area.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F72&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>23. Other Assets </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The components of other assets are as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="82%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>2024</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>2023</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">South Hedland prepaid transmission access and distribution
costs</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>58</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">60</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">TransAlta Energy Transition Bill commitment</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">32</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term prepaids and other assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Project development costs</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Loans receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>25</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Transmission infrastructure</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total other assets</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>180</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">180</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Included in the Consolidated Statements of Financial Position
as:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total current other assets (Note 13)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total long-term other assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">179</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total other assets</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>180</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">180</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">South Hedland prepaid transmission access and distribution costs are costs that are
amortized on a straight-line basis over the South Hedland PPA contract&nbsp;life. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As part of the TransAlta Energy
Transition Bill signed into law in the State of Washington and the subsequent Memorandum of Agreement (MOA), the Company committed to fund US$55&nbsp;million in total over the remaining life of the Centralia coal plant to support economic and
community development, promote energy efficiency and develop energy technologies related to the improvement of the environment. The MOA contains certain provisions for termination and in the event of termination and in certain circumstances, this
funding or portion thereof would no longer be required. As at Dec. 31, 2023, the Company has fully funded the commitment. The outstanding balance will be expensed to net earnings when the funds are granted and disbursed to organizations. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Long-term prepaids and other assets include contractually required prepayments and deposits, including the balances acquired from
Heartland. Refer to Note 4 for more details. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Project development costs primarily include the
<FONT STYLE="white-space:nowrap">pre-construction</FONT> project costs, which met the criteria for capitalization. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At
Dec. 31, 2024, $25&nbsp;million of the loans receivable (2023 &#8212; $26 million) is an unsecured loan related to an advancement by the Company&#8217;s subsidiary, Kent Hills Wind LP, of the net financing proceeds of the Kent Hills Wind Bond (KH
Bonds), to its 17&nbsp;per cent partner. The loan bears interest at 4.55&nbsp;per cent, with interest payable quarterly. No scheduled principal repayments are required until the maturity date of October 2027. During 2024, no repayments were required
as part of the waiver and amendment made to the KH Bonds (2023&nbsp;&#8212; repayments of $12&nbsp;million). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Transmission infrastructure was constructed by the Company and then transferred to a transmission provider upon completion. The
balance relates to the Garden Plain and Windrise wind facilities and will be amortized to net earnings over the useful life of the facilities.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F73</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>24. Decommissioning and Other Provisions </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The change in decommissioning and other provision balances is as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="42%"></TD>

<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="20%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Decommissioning&nbsp;and<BR>restoration</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;Other&nbsp;provisions</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Total&#8199;</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">688</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">729&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Liabilities incurred</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Liabilities settled</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(50)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accretion</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">47</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">48&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revisions in estimated cash flows</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(89</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(89)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revisions in discount rates</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">52&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign exchange
rates</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(6)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Balance, Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">656</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">33</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">689&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Liabilities acquired (Note 4)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>101</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>156&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Liabilities incurred</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>18&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Liabilities settled</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(41</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(45)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accretion (Note 10)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>50&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Transfer to accounts payable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(31)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Transfer to assets held for sale (Note 18)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1)&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revisions in estimated cash flows</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>41&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revisions in discount rates</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>35&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign exchange
rates</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>21&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Balance, Dec. 31,
2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>848</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>933&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="13"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="top" COLSPAN="12"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;Included in the Consolidated Statements of Financial Position
as:</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" COLSPAN="4" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;As at</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2023&#8199;</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="5"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="4" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current portion</FONT></P></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>83</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">35&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="5"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="4" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-current</FONT> portion</FONT></P></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>850</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">654&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="5"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="4" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total decommissioning and
other provisions</B></FONT></P></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&nbsp;</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>933</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">689&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F74&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Decommissioning and Restoration </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A provision has been recognized for all generating facilities and mines for which TransAlta is legally, or constructively, required
to remove the facilities at the end of their useful lives and restore the sites to their original condition. TransAlta estimates that the undiscounted amount of cash flow required to settle these obligations is approximately $1.8&nbsp;billion, which
will be incurred between 2025 and 2072. The majority of the costs will be incurred between 2025 and 2050. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 4,
2024 as part of the Heartland acquisition, the Company recognized decommissioning and restoration provision of $101&nbsp;million and other provisions of $55&nbsp;million (refer to Note 4 for details). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2024, the decommissioning and restoration provision increased by $21&nbsp;million due to revisions in estimated cash flows
and timing of cash flows for certain Gas and Hydro assets. The timing of cash flows was adjusted to optimize and maximize efficiencies by staging required reclamation work. Operating assets included in PP&amp;E increased by $14&nbsp;million and
$7&nbsp;million was recognized as an impairment charge in net earnings related to retired assets. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2024, revisions
in discount rates increased the decommissioning and restoration provision by $35&nbsp;million due to a decrease in discount rates, largely driven by decreases in long-term market benchmark rates. On average, discount rates decreased compared to
2023, with rates ranging from 5.3 to 8.4&nbsp;per cent as at Dec. 31, 2024. This has resulted in a corresponding increase in PP&amp;E of $18&nbsp;million on operating assets and the recognition of a $17&nbsp;million impairment charge in net earnings
related to retired assets. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2023, the decommissioning and restoration provision decreased by $89&nbsp;million due
to revisions in estimated cash flows and timing of cash flows for certain Gas and Energy Transition assets. The timing of cash flows was adjusted to optimize and maximize efficiencies by staging required reclamation work. Operating assets included
in PP&amp;E decreased by $34&nbsp;million and $55&nbsp;million was recognized as an impairment reversal in net earnings related to retired assets.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2023, revisions in discount rates increased the decommissioning and
restoration provision by $52&nbsp;million due to a decrease in discount rates, largely driven by decreases in long-term market benchmark rates. On average, discount rates decreased compared to 2022, with rates ranging from 6.0 to 9.0&nbsp;per cent
as at Dec. 31, 2023. This has resulted in a corresponding increase in PP&amp;E of $31&nbsp;million on operating assets and the recognition of a $21&nbsp;million impairment charge in net earnings related to retired assets. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Dec. 31, 2024, the Company has provided a surety bond in the amount of US$147&nbsp;million (2023 &#8212; US$147&nbsp;million) in
support of future decommissioning obligations at the Centralia coal mine. At Dec. 31, 2024, the Company had provided a surety bond and letters of credit in the amount of $194&nbsp;million (2023 &#8212; $188&nbsp;million) in support of future
decommissioning obligations at the Highvale mine. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Other Provisions </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other provisions include provisions arising from ongoing business activities, amounts related to commercial disputes between the
Company and customers or suppliers and onerous contract provisions. Information about the expected timing of settlement and uncertainties that could impact the amount or timing of settlement has not been provided as this may impact the
Company&#8217;s ability to settle the provisions in the most favourable&nbsp;manner. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As part of the acquisition of
Heartland, the Company recognized an onerous contract provision of $47&nbsp;million related to certain natural gas transportation contracts assumed. Payments required under the contracts continue through the first quarter of 2031.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F75</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:17pt; font-family:arial"><FONT COLOR="#43c5e4"><B>25. Credit Facilities, Long-Term Debt and Lease Liabilities </B></FONT></P>
<P STYLE="margin-top:17pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Amounts Outstanding </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The amounts outstanding are as follows: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="49%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As&nbsp;at&nbsp;Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Segment</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Maturity</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Currency</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Carrying<BR>value</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Face<BR>value</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Interest<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP>&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Carrying<BR>value</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Face<BR>value</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Interest&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Credit facilities</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Committed syndicated bank&nbsp;facility<SUP
STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Corporate</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2028</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>145</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Term Facility</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Corporate</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2025</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>400</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>400</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">397</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">7.4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Debentures</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">7.3% Medium term notes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Corporate</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2029</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>110</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>110</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">110</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">110</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">7.3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">6.9% Medium term notes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Corporate</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2030</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>141</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>141</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6.9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">141</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">141</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6.9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Senior notes<SUP
STYLE="font-size:75%; vertical-align:top">(3) </SUP></B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">7.8% Senior notes<SUP
STYLE="font-size:75%; vertical-align:top">(4) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Corporate</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2029</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">USD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>569</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>575</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">520</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">528</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">7.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">6.5% Senior notes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Corporate</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2040</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">USD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>426</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>431</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">391</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">396</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B><FONT STYLE="white-space:nowrap">&#8201;Non-recourse</FONT></B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Melancthon Wolfe Wind LP&nbsp;bond</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Wind&nbsp;&amp;&nbsp;Solar</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2028</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>133</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>134</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">168</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">169</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">New Richmond Wind LP&nbsp;bond</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Wind&nbsp;&amp; Solar</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2032</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>93</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>94</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">103</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">104</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Kent Hills Wind LP bond</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Wind&nbsp;&amp; Solar</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2033</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>182</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">193</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">196</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Windrise Wind LP bond</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Wind&nbsp;&amp; Solar</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2041</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>157</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>160</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">164</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">167</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3.4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Pingston bond</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2043</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6.2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6.2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="3"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" COLSPAN="3" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">TAPC Holdings LP bond (Poplar Creek)
Gas</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2030</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>75</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">85</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">86</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">9.4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">TEC Hedland PTY Ltd bond<SUP
STYLE="font-size:75%; vertical-align:top">(5) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2042</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">AUD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>675</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>683</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4.1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">691</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">699</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4.1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Heartland term facility</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Corporate</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2027</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>224</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>224</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Recourse</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">TransAlta OCP LP bond</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2030</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">CAD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>192</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>193</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">217</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">218</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Tax equity financing</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Big Level&nbsp;&amp; Antrim<SUP
STYLE="font-size:75%; vertical-align:top">(6) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Wind&nbsp;&amp; Solar</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2029</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">USD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>90</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>94</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">91</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">97</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Lakeswind<SUP STYLE="font-size:75%; vertical-align:top">(7) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">Wind&nbsp;&amp; Solar</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2027</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">USD</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">North Carolina Solar<SUP
STYLE="font-size:75%; vertical-align:top">(8) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Wind&nbsp;&amp; Solar</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2028</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">USD</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>7.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7.3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Total long-term debt</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3,657</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3,692</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,323</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,363</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Lease
liabilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>151</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Total long-term debt and lease
liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3,808</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,466</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Less: current portion of long-term
debt</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(567</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(526</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Less: current
portion of lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="3"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" COLSPAN="3" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Total current long-term debt and lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(572</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(532</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="9"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" COLSPAN="9" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Total <FONT STYLE="white-space:nowrap">non-current</FONT> credit facilities, long-term debt and
lease&nbsp;liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,236</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2,934</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Interest rate reflects the stipulated rate or the average rate weighted by principal amounts
outstanding and is before the effect of hedging. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Composed of swing line loans and other commercial borrowings under long-term committed credit
facilities. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">U.S. face value at Dec. 31, 2024, is US$700&nbsp;million (2023 &#8212; US$700 million).
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The effective interest rate for the Senior Notes is 5.98&nbsp;per cent after the effects of gains
realized on settled interest rate hedging instruments. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">AU face value at Dec. 31, 2024, is AU$761&nbsp;million (2023 &#8212; AU$773 million).
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(6)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">U.S. face value at Dec. 31, 2024, is US$65&nbsp;million (2023 &#8212; US$73 million).
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(7)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">U.S. face value at Dec. 31, 2024, is US$5&nbsp;million (2023 &#8212; US$8 million).
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(8)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">U.S. face value at Dec. 31, 2024, is US$3&nbsp;million (2023 &#8212; US$2 million).
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F76&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s credit facilities are summarized in the table below:
</FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8.5pt" ALIGN="center">


<TR>

<TD WIDTH="56%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Utilized</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Credit facilities</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;<BR></B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>Facility<BR>size</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;<BR>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;<BR><BR></B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>Outstanding<BR>letters of<BR>credit<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;<BR>&nbsp;<BR>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;<BR></B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>Cash<BR>drawings</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;<BR>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;<BR></B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>Available<BR>capacity</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;<BR>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;<BR></B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>Maturity<BR>date</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;<BR>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Committed</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">&#8201;Syndicated credit facility</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,950</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">456</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">145</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,349</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q2 2028</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">&#8201;Bilateral credit facilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">240</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">161</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">79</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q2 2026</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">&#8201;Term Facility</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q3 2025</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">&#8201;Heartland Credit Facilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">276</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">224</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q4 2027</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">&#8201;Heartland EDC
letter of credit facility</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">Q1 2025</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Total committed</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,916</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>645</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>769</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,502</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B><FONT STYLE="white-space:nowrap">&#8201;Non-committed</FONT></B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">&#8201;Demand
facilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">220</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">180</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">N/A</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Total <FONT
STYLE="white-space:nowrap">Non-committed</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>400</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>220</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>180</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">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. Letters of credit drawn
against the <FONT STYLE="white-space:nowrap">non-committed</FONT> facilities reduce the available capacity under the committed syndicated credit facilities. At Dec. 31, 2024, TransAlta provided cash collateral of $124&nbsp;million.
</FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In the second quarter of 2024, the Term Facility of $400&nbsp;million was renewed
with the maturity extended by one year to September 2025. The syndicated credit facility and bilateral credit facilities were also extended by one year to June 2028 and June 2026, respectively. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The credit facilities are the primary source of short-term liquidity after the cash flow generated from the
Company&#8217;s&nbsp;business. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Heartland Credit Facilities </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As part of the Heartland acquisition on Dec. 4, 2024, the Company assumed a $232&nbsp;million drawn term facility and a
$25&nbsp;million revolving facility with a syndicate of banks, (collectively Heartland Credit Facilities). At Dec. 31, 2024 the drawn term facility was $224&nbsp;million. The $25&nbsp;million revolving facility is undrawn and available for working
capital and general corporate purposes. The maturity date for the Heartland Credit Facilities is Dec. 22, 2027. The Heartland Credit Facilities also include a $27&nbsp;million debt service reserve letter of credit facility. As at Dec. 31, 2024
$14&nbsp;million in letters of credit have been issued under this facility. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Heartland EDC Letter of Credit Facility </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As part of the Heartland acquisition, the Company has access to a $50&nbsp;million unsecured letter of credit facility with two
Canadian banks, which is supported by a performance security guarantee from Export Development Canada (EDC). As at Dec. 31, 2024, $14&nbsp;million in letters of credit have been issued under this facility. The facility is effective until
March&nbsp;31, 2025. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Senior Notes </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A total of US$300&nbsp;million (2023 &#8212; US$370 million) of the senior notes have been designated as a hedge of the
Company&#8217;s net investment in U.S. operations. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-Recourse</FONT> Debt </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;8, 2023, the Pingston Power Inc. <FONT STYLE="white-space:nowrap">non-recourse</FONT> bond matured with a total
aggregate repayment of $46&nbsp;million, consisting of accrued interest and principal. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Sept. 14, 2023, the Company
closed a <FONT STYLE="white-space:nowrap">non-recourse</FONT> bond financing for approximately $39&nbsp;million (Pingston Bond) as a replacement for the <FONT STYLE="white-space:nowrap">non-recourse</FONT> bond that matured on May&nbsp;8, 2023. The
Pingston Bond is secured by a first ranking charge over all the respective assets of the Company&#8217;s subsidiaries that issued the bonds, amortizes and bears interest at a rate of 6.145&nbsp;per cent per annum, payable semi-annually, and matures
on May&nbsp;8, 2043. The Pingston Bond is subject to customary financing conditions and covenants that may restrict the Company&#8217;s ability to access funds generated by the facility&#8217;s operations. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Tax Equity </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Tax equity financings are typically represented by the initial equity investments made by the project investors at each project (net
of financing costs incurred), except for the Lakeswind and North Carolina Solar acquired tax equity financings, which were initially recognized at their fair values. Tax equity financing balances are reduced by the value of tax benefits (production
tax credits, tax depreciation and investment tax credits) allocated to the investor and by cash distributions paid to the investor for
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="10%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="34%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F77</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
their share of net earnings and cash flow generated at each project. Tax equity financing balances are increased by interest recognized at the implicit interest rate. The maturity dates of each
financing are subject to change and are primarily dependent upon when the project investor achieves the agreed upon targeted rate of return. The Company anticipates the maturity dates of the tax equity financings will be: Lakeswind in June 2027;
North Carolina Solar in December 2028; and Big Level and Antrim in December 2029. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Other </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s short and long-term debt has terms and conditions, including financial covenants, that are considered normal and
customary. As at Dec. 31, 2024, the Company was in compliance with all debt covenants. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Heartland Credit Facilities
are not subject to any maintenance or financial covenants but do contain certain covenants that limit Heartland&#8217;s ability to, among other things, incur additional indebtedness, create or permit liens to exist, make certain acquisitions or
dispositions, make distributions and enter into certain hedging agreements. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is in compliance with its terms
of the credit facilities and all undrawn amounts are fully available. Letters of credit in the amount of $220&nbsp;million were issued from <FONT STYLE="white-space:nowrap">non-committed</FONT> demand facilities as at Dec. 31, 2024. In addition to
the net $1.5&nbsp;billion of committed capacity available under the credit facilities, the Company had $336&nbsp;million of available cash and cash equivalents as at Dec.&nbsp;31, 2024. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Restrictions Related to <FONT STYLE="white-space:nowrap">Non-Recourse</FONT> Debt and Other Debt </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Melancthon Wolfe Wind LP, Pingston Power Inc., TAPC Holdings LP, New Richmond Wind LP, Kent Hills Wind LP, TEC Hedland Pty Ltd.
and Windrise Wind LP <FONT STYLE="white-space:nowrap">non-</FONT> recourse bonds, the TransAlta OCP LP bond, and Heartland Credit Facilities, with a total carrying value of $1.8&nbsp;billion as at Dec. 31, 2024 (2023 &#8212; $1.7 billion), 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 can 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 fourth quarter of 2024 with the
exception of Kent Hills Wind LP. The funds in the entities will remain there until the next debt service coverage ratio can be performed in the first quarter of 2025. At Dec. 31, 2024, $117&nbsp;million (2023 &#8212; $79 million) of cash was subject
to these financial restrictions. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Dec. 31, 2024, $5&nbsp;million (AU$6 million) of funds held by TEC Hedland Pty
Ltd. cannot be accessed by other corporate entities as the funds must be solely used by the project entities, for the purpose of paying major maintenance costs. Additionally, certain <FONT STYLE="white-space:nowrap">non-recourse</FONT> bonds require
that certain reserve accounts be established and funded through cash held on deposit and/ or by providing letters of credit. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C.
Security </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-recourse</FONT> debt totalling $1.5&nbsp;billion as at Dec. 31, 2024
(2023 &#8212; $1.4 billion) is secured by a first ranking charge over all of the respective assets of the Company&#8217;s subsidiaries that issued the debt, which include PP&amp;E with total carrying amounts of $1.75&nbsp;billion at Dec. 31, 2024
(2023 &#8212; $1.5 billion) and intangible assets with total carrying amounts of $84&nbsp;million (2023 &#8212; $61 million). At Dec. 31, 2024, <FONT STYLE="white-space:nowrap">non-recourse</FONT> debt of approximately $75&nbsp;million (2023 &#8212;
$85 million) was secured by a first ranking charge over the equity interests of the issuer that issued the <FONT STYLE="white-space:nowrap">non-recourse</FONT> debt. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The TransAlta OCP bonds have a carrying value of $192&nbsp;million (2023 &#8212; $217 million) and are secured by the assets of
TransAlta OCP, including the right to annual capital contributions and OCA payments from the Government of Alberta related to TransAlta&#8217;s legacy coal facilities (the TransAlta OCA). Under the TransAlta OCA, the Company receives annual cash
payments on or before July&nbsp;31 of approximately $40&nbsp;million (approximately $37&nbsp;million, net to the Company), commencing on Jan. 1, 2017, and terminating at the end of 2030. These payments do not include the OCA payments Heartland is
entitled to under its OCA. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F78&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>D. Principal Repayments </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="62%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2026</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2027</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2028</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2029</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2030 and<BR>thereafter</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Principal repayments<SUP
STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">566</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">169</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">331</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">309</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">824</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,493</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3,692</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Lease
liabilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">127</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>151</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Excludes impact of hedge accounting and derivatives. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>E. Restricted Cash </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Dec. 31, 2024, the Company had $17&nbsp;million (2023 &#8212; $17 million) of restricted cash related to the TransAlta OCP
bonds, which is required to be held in a debt service reserve account to fund scheduled future debt repayments. The Company also had $52&nbsp;million (2023 &#8212; $52 million) of restricted cash related to the TEC&nbsp;Hedland Pty Ltd. bond. These
cash reserves are required to be held under commercial arrangements and for debt service, which may be replaced by letters of credit in the future. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>F. Letters of Credit </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Letters of credit are issued to counterparties as required by various
contractual arrangements with the Company and certain subsidiaries of the Company. If the Company or its subsidiary does not perform under such contracts, the counterparty may present its claim for payment to the financial institution through which
the letter of credit was issued. All letters of credit expire within one year and are expected to be renewed, as needed, in the normal course of business. The total outstanding letters of credit as at Dec. 31, 2024, was $865&nbsp;million (2023
&#8212; $782 million) with nil (2023 &#8212; nil) amounts exercised by third parties under these arrangements.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>G. Currency Impacts </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The strengthening of the U.S. dollar has increased the U.S. dollar denominated long-term debt balances, mainly the senior notes and
tax equity financings, by $90&nbsp;million as at Dec. 31, 2024 (2023 &#8212; decreased $27&nbsp;million due to the weakening of the U.S. dollar). Almost all of the U.S. dollar denominated debt is hedged either through financial contracts or net
investments in U.S. operations. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Additionally, the weakening of the Australian dollar has decreased the Australian
dollar-denominated <FONT STYLE="white-space:nowrap">non-recourse</FONT> senior secured notes balance by approximately $5&nbsp;million as at Dec. 31, 2024 (2023 &#8212; $9 million). As this debt is issued by an Australian subsidiary, the foreign
currency translation impacts are recognized within other comprehensive income (loss). </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F79</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>26. Exchangeable Securities </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On March&nbsp;22, 2019, the Company entered into an Investment Agreement whereby
Brookfield Renewable Partners or its affiliates (collectively Brookfield) agreed to invest $750&nbsp;million in TransAlta through the purchase of exchangeable securities, which are exchangeable into an equity ownership interest in
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
TransAlta&#8217;s Alberta Hydro Assets in the future at a value based on a multiple of the Alberta Hydro Assets&#8217; future-adjusted EBITDA (Option to&nbsp;Exchange).
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. $750 Million Exchangeable
Securities </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="56%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="12"></TD>
<TD HEIGHT="4" COLSPAN="12"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Carrying<BR>value</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Face<BR>value</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Interest&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Carrying<BR>value</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Face<BR>value</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Interest&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Exchangeable debentures &#8211; due May&nbsp;1,
2039<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>350</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>350</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">344</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">350</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Exchangeable
preferred shares<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>400</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>400</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Total
exchangeable securities</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>750</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>750</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">744</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">750</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Seven per cent unsecured subordinated debentures due May&nbsp;1, 2039.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:5pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Redeemable, retractable first preferred shares (Series I). Exchangeable preferred share dividends
are reported as interest expense. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 9, 2024, the Company declared a dividend of $7&nbsp;million, in aggregate,
for the Exchangeable Preferred Shares at the fixed rate of 1.760&nbsp;per cent, per share, payable on Feb.&nbsp;28, 2025. The Exchangeable Preferred Shares are
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
considered debt for accounting purposes and, as such, dividends are reported as interest expense (Note 10).
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Option to
Exchange&#8195; </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="53%"></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="8"></TD>
<TD HEIGHT="4" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Description</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Base&nbsp;fair&nbsp;value</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Sensitivity&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Base&nbsp;fair&nbsp;value</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Sensitivity</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Option to exchange &#8211; embedded
derivative</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>+nil&#8194;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">+nil</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>-30&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">-25</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Investment Agreement allows Brookfield the option to exchange all of the
outstanding exchangeable securities after Dec. 31, 2024, into an equity ownership interest of up to a maximum 49&nbsp;per cent in an entity that has been formed to hold the Alberta Hydro Assets. The fair value of the option to exchange is considered
a Level III fair value measurement as there is no available market-observable data. It is therefore valued using a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-forecast</FONT></FONT> model with inputs that are based on
historical data and changes in underlying discount rates only when it represents a long-term change in the value of the option to&nbsp;exchange. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Sensitivity ranges for the base fair value are determined using reasonably possible alternative assumptions for key unobservable
inputs, which is mainly the change in the implied discount rate of future cash flows. The sensitivity analysis has been prepared using the Company&#8217;s assessment that a change in the implied discount rate of 10.5&nbsp;per cent (2023 &#8212; 11.8
per cent) of future cash flows of one per cent is a reasonably possible change. </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The maximum equity interest Brookfield can own with respect to the Alberta Hydro
Assets is 49&nbsp;per cent. If Brookfield&#8217;s ownership interest is less than 49&nbsp;per cent at conversion, Brookfield has a <FONT STYLE="white-space:nowrap">one-time</FONT> option payable in cash to increase its ownership to up to 49&nbsp;per
cent, exercisable up until Dec. 31, 2028, provided Brookfield holds at least 8.5&nbsp;per cent of TransAlta&#8217;s common shares. Under this <FONT STYLE="white-space:nowrap">top-up</FONT> option, Brookfield will be able to acquire an additional
10&nbsp;per cent interest in the entity holding the Alberta Hydro Assets, provided the <FONT STYLE="white-space:nowrap">20-day</FONT> volume-weighted average price (VWAP) of TransAlta&#8217;s common shares is not less than $14 per share prior to the
exercise of the option, and up to the full 49&nbsp;per cent if the <FONT STYLE="white-space:nowrap">20-day</FONT> VWAP of TransAlta&#8217;s common shares at that time is not less than $17 per share. To the extent the value of the investment would
exceed a 49&nbsp;per cent equity interest, Brookfield will be entitled to receive the balance of the redemption price in cash. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">In connection with the Investment Agreement, Brookfield is entitled to nominate two directors for election to the Board.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F80&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>27. Defined Benefit Obligation and Other Long-Term Liabilities </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The components of defined benefit obligation and other long-term liabilities are as follows: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="78%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8201;As at
Dec.&nbsp;31</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2024</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2023</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Defined benefit obligation (Note 32)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>146</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">155</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Retail power contract liability</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Total</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>202</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">251</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. The defined benefit obligation has decreased by $9&nbsp;million to $146&nbsp;million as at Dec. 31, 2024, from
$155&nbsp;million as at Dec. 31, 2023. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s U.S. Defined Benefit Pension Plan was terminated effective
June&nbsp;30, 2024 and annuitized with the TransAlta Retirement Pension Plan Trust in October 2024. Plan assets and liabilities both totalling $23&nbsp;million (US$17&nbsp;million) were transferred to a new provider. The participant payments with a
new provider commenced on Jan. 1, 2025. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2023, the Company made a voluntary contribution of $4&nbsp;million
(US$3&nbsp;million) to further improve the funded status of U.S. Defined Benefit Pension Plan for the Centralia thermal facility.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A one per cent increase in discount rates would result in a $34&nbsp;million decrease
in the defined benefit obligation. Refer to Note 32 for additional sensitivities impacting the defined benefit obligation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The retail power contract liability represents an obligation arising from the purchase and sale agreement for customer retail contracts to deliver power, gas and power and gas financial swaps. The retail power contracts represent
certain <FONT STYLE="white-space:nowrap">off-market</FONT> customer contracts, where the value of the contract is based on the differential between the contractual and market rates on the closing date. The retail contract liability is amortized to
depreciation over the remaining term of the contracts based on volumes that will be delivered each month. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F81</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>28. Common Shares </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Issued and Outstanding </B></FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta is authorized to issue an unlimited number of voting common shares without nominal or par value. </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="60%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Common<BR>shares<BR>(millions)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Amount&#8195;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Common<BR>shares<BR>&#8195;(millions)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;Amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Issued and outstanding, beginning of period</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>306.9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3,285</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">268.1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,863</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Reversal of provision for repurchase of common shares under ASPP</FONT></P></TD>

<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>1.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Purchased and cancelled under the NCIB<SUP
STYLE="font-size:75%; vertical-align:top">(1)(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(13.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(146</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(7.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(80</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Share-based payment plans</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>0.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Stock options exercised</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Issued for
acquisition of TransAlta Renewables<SUP STYLE="font-size:75%; vertical-align:top">(3) </SUP>(Note 4)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">46.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">510</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Issued and outstanding, end of year, prior to ASPP</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>297.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3,179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">308.6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,304</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Provision for
repurchase of common shares under ASPP</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1.7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Issued and
outstanding, end of year</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>297.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">306.9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,285</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">2024 includes $2&nbsp;million of tax on share buybacks (2023 &#8212; nil) on the fair value of the
shares repurchased. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Shares purchased by the Company under the NCIB (as defined below) 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 retained earnings (deficit). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Net of $4&nbsp;million of transaction costs. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Normal Course Issuer Bid (NCIB) Program </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The effects of the Company&#8217;s purchase and cancellation of common shares during the period are as follows: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8201;For the
year ended Dec. 31</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>2023&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#636466">&#8201;Total shares purchased</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>13,467,400</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">7,537,500&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#636466">&#8201;Average
purchase price per share</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>10.59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11.49&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#636466">&#8201;Total cost (millions)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">87&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#636466">&#8201;Book value of shares cancelled</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>146</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">80&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#636466">&#8201;Amount
recorded in deficit</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(7)&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;27, 2024, the Company announced that it received approval from the Toronto Stock Exchange (TSX) to repurchase up to a
maximum of 14&nbsp;million common shares during the <FONT STYLE="white-space:nowrap">12-month</FONT> period that commenced May&nbsp;31, 2024, and terminates May&nbsp;30, 2025. Any common shares purchased under the NCIB will be cancelled.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;26, 2023, the TSX accepted the notice filed by the Company to renew its NCIB for a portion of its common shares.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 19, 2023, the Company entered into an Automatic Share Purchase Plan (ASPP) that permits an independent broker to
repurchase shares under the NCIB during the first quarter blackout period through to the end of the ASPP. As at Dec.&nbsp;31, 2023, the Company recognized a
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F82&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
provision of $19&nbsp;million for the repurchase of common shares under the ASPP within accounts payables and accrued liabilities as an estimate of the maximum number of shares that could be
repurchased during the blackout&nbsp;period. The provision was settled during 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Shareholder Rights Plan </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company initially adopted the Shareholder Rights Plan in 1992, which was amended and restated on April&nbsp;28, 2022. As
required, the Shareholder Rights Plan must be put before the Company&#8217;s shareholders every three years for approval. It was last approved on April&nbsp;28, 2022, and will need to be approved at the annual meeting of shareholders in 2025. The
primary objective of the Shareholder Rights Plan is to encourage a potential
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">acquirer to meet certain minimum standards designed to promote the fair and equal
treatment of all common shareholders. When an acquiring shareholder acquires 20&nbsp;per cent or more of the Company&#8217;s common shares, except in limited circumstances including by way of a &#8220;permitted bid&#8221; or a &#8220;competing
permitted bid&#8221; (as defined in the Shareholder Rights Plan), the rights granted under the Shareholder Rights Plan become exercisable by all shareholders except those held by the acquiring shareholder. Each right will entitle a shareholder,
other than the acquiring shareholder, to purchase additional common shares at a significant discount to market, thus exposing the person acquiring 20&nbsp;per cent or more of the shares to substantial dilution of their holdings.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>D. Earnings per Share
</B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="66%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8201;Year ended
Dec.&nbsp;31</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2024</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2023</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2022&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Net earnings attributable to common shareholders</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>177</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">644</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Basic and diluted weighted average number of common shares<BR>&#8201;outstanding&nbsp;(millions)</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>302</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">276</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">271&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Net earnings
per share attributable to common shareholders, basic and&nbsp;diluted</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>0.59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2.33</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.01&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>E. Dividends </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 9, 2024, the Company declared a quarterly dividend of $0.06 per common share, payable on April 1, 2025. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Feb. 19, 2025, the Company declared a quarterly dividend of $0.065 per common share, payable on July 1, 2025. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">There have been no transactions involving common shares between the reporting date and the date of completion of these Consolidated
Financial Statements. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
</div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F83</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>29. Preferred Shares </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Issued and Outstanding </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">All preferred shares issued and outstanding are <FONT STYLE="white-space:nowrap">non-voting</FONT> cumulative redeemable fixed or floating rate first preferred&nbsp;shares. </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="65%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>As at Dec.
31</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" COLSPAN="5" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" COLSPAN="5" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Series<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Number<BR>of&nbsp;shares<BR>(millions)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Number<BR>of&nbsp;shares<BR>(millions)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Series&nbsp;A</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8194;&#8199;9.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;235</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">9.6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">235</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Series&nbsp;B</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>2.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>58</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">58</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Series&nbsp;C</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>10.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>243</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8201;&#8199;10.0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8201;243</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Series D</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>1.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1.0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Series&nbsp;E</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>9.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>219</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">9.0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">219</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Series&nbsp;G</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>6.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>161</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">6.6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">161</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#efefef">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#efefef">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Issued and
outstanding, end of period</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>38.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>942</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">38.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">942</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The Series I Preferred Shares are accounted for as long-term debt. Refer to Note 26.&#8195;
</FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Series G Cumulative Redeemable Rate Reset Preferred Shares </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the third quarter of 2024, after taking into account all election notices received for the conversion of the Cumulative
Redeemable Rate Reset Preferred Shares, Series G (Series G shares), 20,607 Series G shares out of 6.6&nbsp;million outstanding, were tendered for conversion, which is less than the 1&nbsp;million shares required to give effect to conversion into
Series H shares. As a result, none of the Series G Shares were converted into Series H Shares on Sept. 30, 2024 and the next conversion date was reset to Sept. 30, 2029. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Preferred Share Series Information </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The holders are entitled to receive cumulative fixed quarterly cash dividends at specified rates, as approved by the Board. After an
initial period of approximately five years from issuance and every five years thereafter (Rate Reset Date), the fixed rate resets to the sum of the five-year Government of Canada bond yield (the fixed rate Benchmark) plus a specified spread. Upon
each Rate Reset Date, the shares are also: </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Redeemable at the option of the Company, in whole or in part, for $25.00 per share, plus all
declared and unpaid dividends at the time of redemption. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Convertible at the holder&#8217;s option into a specified series of
<FONT STYLE="white-space:nowrap">non-voting</FONT> cumulative redeemable floating rate first preferred shares that pay cumulative floating rate quarterly cash dividends, as approved by the Board, based on the sum of the Government of Canada <FONT
STYLE="white-space:nowrap">90-day</FONT> Treasury Bill rate (the floating rate Benchmark) plus a specified spread. The cumulative floating rate first preferred shares are also redeemable at the option of the Company and convertible back into each
original cumulative fixed rate first preferred share series, at each subsequent Rate Reset Date, on the same terms as noted&nbsp;above.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F84&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">
Characteristics specific to each first preferred share series as at Dec. 31, 2024, are as follows: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="19%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Series<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Rate during</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>term</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Annual&nbsp;dividend<BR>rate&nbsp;per&nbsp;share<BR>($)<SUP STYLE="font-size:75%; vertical-align:top">(2)
</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Next&nbsp;conversion<BR>date</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Rate&nbsp;spread<BR>over&nbsp;benchmark<BR>(per cent)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Convertible<BR>to&nbsp;Series</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fixed</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;&#8195;0.71924</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">March&nbsp;31,&nbsp;2026</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;&#8195;&#8195;&#8194;&#8201;2.03</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;&#8195;&#8195;B</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;B</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Floating</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1.60106</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">March&nbsp;31,&nbsp;2026</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2.03</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">A</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;C</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fixed</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1.46352</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">June&nbsp;30,&nbsp;2027</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3.10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">D</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;D</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Floating</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1.86801</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">June&nbsp;30,&nbsp;2027</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3.10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">C</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;E</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fixed</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1.72352</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Sept.&nbsp;30,&nbsp;2027</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3.65</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">F</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;G</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fixed</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1.47012</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Sept.&nbsp;30,&nbsp;2029</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3.80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">H</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The Series I Preferred Shares are accounted for as long-term debt. Refer to Note 26.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The annual dividend rate per share represents dividends declared in 2024.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Dividends </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table summarizes the preferred share dividends declared in 2024 and 2023: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" COLSPAN="5" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8194;&#8195;Total&nbsp;dividends&nbsp;declared&#8195;&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8201;Series</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;A</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;B<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;C</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;D<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;E</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#efefef"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;G</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#efefef">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Total for the
year</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Series B Preferred Shares pay quarterly dividends at a floating rate based on the <FONT
STYLE="white-space:nowrap">90-day</FONT> Government of Canada Treasury Bill rate, plus 2.03&nbsp;per cent. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Series D Preferred Shares pay quarterly dividends at a floating rate based on the <FONT
STYLE="white-space:nowrap">90-day</FONT> Government of Canada Treasury Bill rate, plus 3.10&nbsp;per cent. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">On Dec. 9, 2024, the Company declared a quarterly dividend of $0.17981 per share on the Series A preferred shares, $0.33972 per share on the Series B preferred shares, $0.36588 per share on the Series C preferred shares, $0.40568
per share on the Series D preferred shares, $0.43088 per share on the Series E preferred shares and $0.42331 per share on the Series G preferred shares, payable on March&nbsp;31, 2025. </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F85</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>
30. Accumulated Other Comprehensive Income (Loss) </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
components of and changes in, accumulated other comprehensive loss are as follows: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="78%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Currency translation adjustment</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Opening balance, Jan.&nbsp;1</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gains (losses) on translating net assets of foreign
operations, net of reclassifications to net</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">earnings, net of tax</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">(Losses) gains on
financial instruments designated as hedges of foreign operations, net of</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">reclassifications to
net earnings, net of tax<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(28</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Balance,
Dec.&nbsp;31</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow hedges</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Opening balance, Jan.&nbsp;1</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;(129</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;(228</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gains on derivatives
designated as cash flow hedges, net of reclassifications to net earnings</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">and to <FONT
STYLE="white-space:nowrap">non-financial</FONT> assets, net of tax<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>194</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">99</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Balance,
Dec.&nbsp;31</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>65</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(129</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Employee future benefits</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Opening balance, Jan.&nbsp;1</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net actuarial gains
(losses) on defined benefit plans, net of tax<SUP STYLE="font-size:75%; vertical-align:top">(3) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Balance,
Dec.&nbsp;31</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Other</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Opening balance, Jan.&nbsp;1</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in ownership of TransAlta
Renewables</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(64</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Intercompany and
third-party investments at FVTOCI</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Balance,
Dec.&nbsp;31</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Accumulated other
comprehensive income (loss)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>41</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(164</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Net of income tax recovery of $4&nbsp;million for the year ended Dec. 31, 2024 (Dec. 31, 2023
&#8211; $1&nbsp;million expense). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Net of income tax expense of $53&nbsp;million for the year ended Dec. 31, 2024 (Dec. 31, 2023
&#8211; $27 million). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Net of income tax expense of $3&nbsp;million for the year ended Dec. 31, 2024 (Dec. 31, 2023 &#8211;
$1&nbsp;million recovery). </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>31. Share-Based Payment Plans </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has the following share-based payment plans:
</FONT></P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Performance Share Unit (PSU) and Restricted Share Unit (RSU) Plan </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Under the Share Unit Plan, grants of PSUs and RSUs may be made annually, but are measured and assessed over a three-year performance
period. Grants are determined as a percentage of participants&#8217; base pay and are converted to PSUs or RSUs on the basis of the Company&#8217;s common share price at the time of grant. Vesting of PSUs is subject to achievement over a three-year
period of specific performance
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
measures that are established at the time of each grant. RSUs are subject to a three-year <FONT STYLE="white-space:nowrap">cliff-vesting</FONT> requirement. RSUs and PSUs track the
Company&#8217;s share price over the three-year period and accrue dividends as additional units at the same rate as dividends paid on the Company&#8217;s common shares. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The <FONT STYLE="white-space:nowrap">pre-tax</FONT> compensation expense related to PSUs and RSUs in 2024 was $23&nbsp;million (2023
&#8212; $21&nbsp;million, 2022 &#8212; $20&nbsp;million), which is included in OM&amp;A in the Consolidated Statements of Earnings.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F86&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Deferred Share Unit (DSU) Plan </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Under the Share Unit Plan, members of the Board and executives may, at their option, purchase DSUs using certain components of their
fees or pay. A DSU is a notional share that has the same value as one common share of the Company and fluctuates based on the changes in the value of the Company&#8217;s common shares in the marketplace. DSUs accrue dividends as additional DSUs at
the same rate as dividends are paid on the Company&#8217;s common shares. DSUs are redeemable in cash and may not be redeemed until the termination or retirement of the director or executive from the Company. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company accrues a liability and expense for the appreciation in the common share value in excess of the DSU&#8217;s purchase
price and for dividend equivalents earned. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The <FONT STYLE="white-space:nowrap">pre-tax</FONT> compensation expense related to
the DSUs was $8&nbsp;million in 2024 (2023 &#8212; $1&nbsp;million, 2022 &#8212; nil). </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Stock Option Plan </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, the Company granted executive officers of the Company a total of 0.7&nbsp;million stock options with a weighted average
exercise price of $10.88 that vest over a three-year period and expire seven years after issuance (2023 &#8212; 0.4&nbsp;million stock options at $12.02; 2022 &#8212; 0.3&nbsp;million stock options at $12.66). The expense recognized relating to
these grants during 2024 was approximately $1&nbsp;million (2023 &#8212; approximately $1&nbsp;million, 2022 &#8212; approximately $1&nbsp;million).
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:7pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The total
options outstanding and exercisable under the Stock Option Plan at Dec. 31, 2024, are outlined below: </FONT></P> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="33%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="32%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="24%"></TD>
<TD></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Options&nbsp;outstanding&#8194;&#8194;&#8194;&#8195;&#8195;&#8195;&#8195;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Range&nbsp;of&nbsp;exercise&nbsp;prices<BR>($&nbsp;per share)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number&nbsp;of&nbsp;options<BR>(millions)<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Weighted&nbsp;average&nbsp;remaining<BR>contractual life (years)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Weighted&nbsp;average&nbsp;exercise&nbsp;price<BR>($&nbsp;per share)</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">9.28-12.67</FONT></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>1.6&#8201;&#8201;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>4.67&#8201;&#8201;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>10.97&#8201;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes 0.7&nbsp;million options exercisable as at Dec. 31, 2024. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>32. Employee Future Benefits
</B></FONT></P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Description </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company sponsors registered pension plans in Canada and the U.S. covering substantially all employees of the Company in both
countries and specific named employees working internationally. These plans have defined benefit and defined contribution options and in Canada there is an additional <FONT STYLE="white-space:nowrap">non-registered</FONT> supplemental plan for
eligible employees whose annual earnings exceed the Canadian income tax limit. Except for the Highvale pension plan acquired in 2013, the Canadian and U.S. defined benefit pension plans are closed to new entrants. The U.S. defined benefit pension
plan was frozen effective Dec. 31, 2010, resulting in no future benefits being earned. The supplemental pension plan was closed as of Dec. 31, 2015, and a new defined contribution supplemental pension plan commenced for executive members effective
Jan. 1, 2016. Current executives as of Dec. 31, 2015, were grandfathered into the old supplemental plan. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Company&#8217;s U.S. defined benefit pension plan was terminated effective June&nbsp;30, 2024 and annuitized in October 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The latest actuarial valuation for accounting purposes of the U.S. defined benefit pension plan was at Jan. 1, 2023. The latest actuarial valuation for accounting purposes of the Highvale pension plan was at Dec. 31, 2022. The
latest
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
actuarial valuation for accounting purposes of the Registered Supplemental, and Other Canadian pension plans were at Dec. 31, 2021, Dec. 31, 2022 and Dec. 31, 2023, respectively. The measurement
date used for all plans to determine the fair value of plan assets and the present value of the defined benefit obligation was Dec. 31, 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Funding of the registered pension plans complies with applicable regulations that require actuarial valuations of the pension funds at least once every three years in Canada, or more, depending on funding status and every year in
the U.S.. The supplemental pension plan is solely the obligation of the Company. The Company is not obligated to fund the supplemental plan but is obligated to pay benefits under the terms of the plan as they come due. The Company posted a letter of
credit in March 2024 in the amount of $90&nbsp;million, and provided $62&nbsp;million in surety bonds, to secure the obligations under the supplemental plan and the Canadian defined benefit plan,&nbsp;respectively. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company provides other health and dental benefits to certain eligible employees to the age of 65 for both disabled members and
retired members through its other post-employment benefits plans. The measurement date used to determine the present value obligation for both plans was Dec. 31, 2024.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F87</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company provides several defined contribution plans, including the acquired
Heartland plan, an Australian superannuation plan and a U.S. 401(k)&nbsp;savings plan, that provide for company contributions from five to 11.5&nbsp;per cent, depending on the plan.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Optional employee contributions are allowed for all the defined contribution plans.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Costs Recognized
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The costs recognized in net earnings during the year on the defined benefit, defined contribution and other
post-employment benefits plans are as follows: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="64%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Registered</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Supplemental</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8194;&#8194;Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current service cost</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Administration expenses</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest cost on defined benefit
obligation</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on plan
assets</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Defined benefit expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Defined contribution
expense</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net
expense</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="19"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Registered</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Supplemental</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current service cost</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Administration expenses</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest cost on defined benefit
obligation</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8201;1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on plan
assets</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;&#8195;(13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8194;&#8201;&#8195;&#8195;&#8195;&#8195;(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;(14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Defined benefit expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Defined contribution
expense</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net
expense</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="19"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31, 2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Registered</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Supplemental</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current service cost</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Administration expenses</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest cost on defined benefit
obligation</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on plan
assets</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Defined benefit expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Defined contribution
expense</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net
expense</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F88&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Status of Plans </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The status of the defined benefit pension and other post-employment benefit plans is as follows: </FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="60%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Registered</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Supplemental</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fair value of plan assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>241</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>257</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Present value of
defined benefit obligation</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(303</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(90</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(411</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Funded status
&#8211; plan deficit</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(74</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(154</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="19"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Amount recognized in the Consolidated Financial
Statements:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.20em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accrued current liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.20em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other long-term
liabilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(61</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(68</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(146</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total amount
recognized</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(74</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8199;&#8195;&#8201;(154</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="20"></TD>
<TD HEIGHT="20" COLSPAN="4"></TD>
<TD HEIGHT="20" COLSPAN="4"></TD>
<TD HEIGHT="20" COLSPAN="4"></TD>
<TD HEIGHT="20" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Registered</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Supplemental</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8194;&#8195;Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fair value of plan assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">269</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">284</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Present value of defined
benefit obligation</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8199;&#8195;&#8195;&#8195;(340</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8194;&#8199;&#8195;&#8201;&#8195;(89</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;(17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(446</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Funded status &#8211; plan
deficit</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(71</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(162</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="19"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD>
<TD HEIGHT="19" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Amount recognized in the Consolidated Financial
Statements:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.20em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accrued current liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.20em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other long-term
liabilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(70</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(69</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(155</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total amount
recognized</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(71</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(162</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F89</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>D. Plan Assets </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The fair value of the plan assets of the defined benefit pension and other post-employment benefit plans is as follows: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="57%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;Registered</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Supplemental</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8194;Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">As at Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">274</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">289</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on plan assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net return on plan assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contributions<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Benefits paid</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(44</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Administration expenses</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign exchange
rates</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">As at Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">269</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">284</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on plan assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net return on plan assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contributions</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Benefits paid</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;&#8194;&#8199;&#8195;&#8194;(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8194;&#8195;&#8194;(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Administration expenses</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Effect of settlement from annuitization of the U.S. defined</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">benefit plan (Note 27)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;&#8195;&#8195;&#8194;(23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign
exchange rates</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.30em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>As at Dec. 31,
2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>241</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>257</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The Company made a voluntary contribution of nil (2023 &#8212; $4 million) to further improve the
funded status of the U.S. defined benefit pension plan for the Centralia thermal facility. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F90&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The fair value of the Company&#8217;s defined benefit plan assets by major
category is as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="70%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>As at Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Level&nbsp;I</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Level&nbsp;II</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Level&nbsp;III</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">Equity securities</FONT></B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Canadian</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">International</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Private</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">Bonds</FONT></B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">A - AAA</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>81</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">BBB</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Below BBB</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">Loans<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">Other</FONT></B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alternative
funds<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>46</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>46</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Money market and cash and cash
equivalents</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">Total</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>104</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>151</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>257</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes A credit rating loans of $1&nbsp;million.</FONT><FONT COLOR="#636466">
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Alternative funds include investments in infrastructure and real estate funds.</FONT><FONT
 COLOR="#636466"> </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="72%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>As at Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Level&nbsp;I</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Level&nbsp;II</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Level&nbsp;III</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Equity securities</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Canadian</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">U.S.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">International</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">86</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">86</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Private</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Bonds</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">A - AAA</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">62</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">92</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">BBB</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Below BBB</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Loans<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Other</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alternative
funds<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Money market and cash and cash
equivalents</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">160</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">121</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">284</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes A credit rating loans of $1&nbsp;million.</FONT><FONT COLOR="#636466">
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Alternative funds include investments in infrastructure and real estate funds.</FONT><FONT
 COLOR="#636466"> </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Plan assets do not include any common shares of the Company at Dec. 31, 2024 and
Dec. 31, 2023. </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F91</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>E. Defined Benefit Obligation </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The present value of the obligation for the defined benefit pension and other post-employment benefit plans is as follows:
</FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="68%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Registered</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Supplemental</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Present value of defined benefit obligation as at Dec. 31, 2022</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">345</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">85</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">447</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Current service cost</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Interest cost</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Benefits paid</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Actuarial gain arising from demographic assumptions</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Actuarial gain arising from financial assumptions</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Actuarial gain arising from experience adjustments</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Change in foreign exchange rates</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Present value of defined benefit obligation as at Dec. 31, 2023</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">340</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">89</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">446</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Current service cost</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Interest cost</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Benefits paid</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Actuarial gain arising from financial assumptions</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Actuarial gain arising from experience adjustments</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Effect of settlement from the termination of the U.S. defined benefit plan (Note&nbsp;27)</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Change in foreign exchange rates</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B><FONT COLOR="#43c5e4">Present value of defined benefit obligation as at
Dec.&nbsp;31,&nbsp;2024<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>303</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>90</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>411</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The weighted average duration of the defined benefit plan obligation as at Dec. 31, 2024, is 9.8
years.</FONT><FONT COLOR="#636466"> </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>F. Contributions </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The expected employer contributions for 2025 for the defined benefit pension and other post-employment benefit plans are as follows:
</FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="68%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Registered</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Supplemental</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Expected employer contributions</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F92&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>G. Assumptions </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The significant actuarial assumptions used in measuring the Company&#8217;s defined benefit obligation for the defined benefit
pension and other post-employment benefit plans are as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="42%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31 (per cent)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Registered</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Supplemental</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Registered</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Supplemental</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Accrued benefit obligation</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Discount rate</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4.7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Rate of compensation increase</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2.9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2.9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Assumed health-care cost trend rate</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Health-care cost
escalation<SUP STYLE="font-size:75%; vertical-align:top">(1)(3) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dental-care cost escalation</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4.1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4.2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Benefit cost for the year</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Discount rate</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Rate of compensation increase</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2.9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2.7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Assumed health-care cost trend rate</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Health-care cost
escalation<SUP STYLE="font-size:75%; vertical-align:top">(2)(4) </SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7.1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dental-care cost escalation</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4.7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#636466">2024 Post- and <FONT STYLE="white-space:nowrap">pre-65</FONT> rates: decreasing gradually to
4.5&nbsp;per cent by 2034 and remaining at that level thereafter for the U.S. and decreasing gradually by 0.3&nbsp;per cent per year to 4.5&nbsp;per cent in 2030 for Canada. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#636466">2024 Post- and <FONT STYLE="white-space:nowrap">pre-65</FONT> rates: decreasing gradually to
4.5&nbsp;per cent by 2033 and remaining at that level thereafter for the U.S. and decreasing gradually by 0.3&nbsp;per cent per year to 4.5&nbsp;per cent in 2030 for Canada. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#636466">2023 Post- and <FONT STYLE="white-space:nowrap">pre-65</FONT> rates: decreasing gradually to
4.5&nbsp;per cent by 2033 and remaining at that level thereafter for the U.S. and decreasing gradually by 0.3&nbsp;per cent per year to 4.5&nbsp;per cent in 2030 for Canada. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#636466">2023 Post- and <FONT STYLE="white-space:nowrap">pre-65</FONT> rates: decreasing gradually to
4.5&nbsp;per cent by 2032 and remaining at that level thereafter for the U.S. and decreasing gradually by 0.3&nbsp;per cent per year to 4.5&nbsp;per cent in 2030 for Canada. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>H. Sensitivity Analysis </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The following table outlines the estimated increase in the net defined benefit obligation assuming certain changes in key&nbsp;assumptions: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="64%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#171a5f"><B>Canadian plans&#8195;&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#171a5f"><B>U.S.&nbsp;plans</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Registered</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Supplemental</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Pension</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">1% decrease in the discount rate</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">1% increase in the salary scale</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">1% increase in the health-care cost trend rate</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">10% improvement in mortality
rates</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F93</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>33. Joint Arrangements </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Joint arrangements at Dec. 31, 2024, included the following: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="16%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="56%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Joint&nbsp;operations</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Segment</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Ownership</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>(per cent)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Description</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Goldfields Power</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">50</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Gas-fired</FONT> facility in Western Australia operated by TransAlta</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Fort Saskatchewan</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">60</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Cogeneration facility in Alberta, of which TA Cogen has a 60&nbsp;per cent interest, operated by TransAlta</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; text-indent:-0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Fortescue&nbsp;River&nbsp;Gas
Pipeline</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">43</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Natural gas pipeline in Western Australia, operated by DBP Development Group</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;McBride Lake</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Wind&nbsp;and&nbsp;Solar</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">50</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Wind generation facility in Alberta operated by TransAlta</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Soderglen</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Wind&nbsp;and&nbsp;Solar</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">50</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Wind generation facility in Alberta operated by TransAlta</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Pingston</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">50</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Hydro facility in British Columbia operated by TransAlta</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Joffre<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">40</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Cogeneration plant in Alberta operated by TransAlta</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;McMahon<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">50</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Cogeneration plant in British Columbia operated by TransAlta</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Primrose<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">50</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Cogeneration plant in Alberta operated by TransAlta</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&#8201;Rainbow Lake<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">50</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Cogeneration plant in Alberta operated by TransAlta</FONT></TD></TR>
</TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f"><SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP>&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The Company holds interest through its acquisition of Heartland. Refer to Note 4.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f"><SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP>&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The Company agreed to divest its interest in the Rainbow Lake facility to meet the requirements of
the federal Competition Bureau, following the closing of the acquisition. As at Dec. 31, 2024 the Rainbow Lake facility is classified as part of a disposal group held for sale. Refer to Note 18. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="15%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="54%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Joint venture</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Segment</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Ownership</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>(per cent)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Description</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8201;Skookumchuck</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Wind and Solar</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">49</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">Wind generation facility in Washington operated by Southern Power</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&#8201;Tent Mountain</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">60</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Pumped hydro energy storage development project in Alberta</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 4, 2024, the Company acquired Heartland&#8217;s 50 per cent interest in
Sheerness, a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-fired</FONT></FONT> facility in Alberta, previously operated by Heartland. Refer to Note 4 for details. On Oct. 8, 2024, the Company increased its interest by
an additional 10 per cent interest in Tent Mountain. Refer to Note 9 for details.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
</div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F94&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>34. Cash Flow Information </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Change in <FONT STYLE="white-space:nowrap">Non-Cash</FONT> Operating Working Capital </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="68%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Source (use):</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accounts receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>155</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">715</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(869</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Prepaid expenses</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Income taxes receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Inventory</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accounts payable, accrued liabilities and provisions</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(273</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(550</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">548</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Income taxes payable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;" ALIGN="right"><FONT COLOR="#636466">(66</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;" ALIGN="right"><FONT COLOR="#636466">60</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Change in <FONT
STYLE="white-space:nowrap">non-cash</FONT> operating working capital</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">124</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(316</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:5pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Changes in Liabilities from Financing Activities </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Balance<BR>Dec.&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Debt<BR>assumed</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Repayments<BR>and&nbsp;dividends</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>paid<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>New<BR>leases</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dividends<BR>declared</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Foreign<BR>exchange<BR>impact</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Balance<BR>Dec.&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Long-term debt and</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT
 COLOR="#636466">&#8201;lease liabilities<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">3,469</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>232</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>86</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>3,809</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Exchangeable securities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">744</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>750</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Dividends payable</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;(common and preferred)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(123</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>123</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>49</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Total liabilities from</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;financing activities</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4,262</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>232</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(117</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>123</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>86</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4,608</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes a decrease of $131&nbsp;million related to the repayment of long-term debt, a
$143&nbsp;million net decrease in borrowings under credit facilities and a decrease in finance lease obligations of $6&nbsp;million. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes bank overdraft of $1&nbsp;million and new debt assumed of $232&nbsp;million as part of the
Heartland acquisition. Refer to Note 4. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Balance<BR>Dec.&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2022</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Cash<BR>issuances</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Repayments<BR>and&nbsp;dividends</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>paid<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>New<BR>leases</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dividends<BR>declared</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Foreign<BR>exchange<BR>impact</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Other</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Balance<BR>Dec.&nbsp;31,</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Long-term debt and</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT
 COLOR="#636466">&#8201;lease liabilities<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">3,669</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(220</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466">3,469</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Exchangeable securities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">739</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">744</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Dividends payable</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;(common and preferred)<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(109</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">116</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">&#8201;Total liabilities from</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">&#8201;financing activities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4,476</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(329</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">116</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4,262</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes a decrease of $164&nbsp;million related to the repayment of long-term debt, a
$46&nbsp;million net decrease in borrowings under credit facilities and a decrease in finance lease obligations of $10&nbsp;million. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes bank overdraft of $3&nbsp;million. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Other dividends payable related to payment of TransAlta Renewables&#8217; <FONT
STYLE="white-space:nowrap">non-controlling</FONT> interest dividend reflected within distributions paid to subsidiaries of <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests in the Consolidated Statements of Cash Flows.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F95</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>35. Capital </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s capital is comprised of the following: </FONT></P>
<P STYLE="font-size:21pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="67%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;As at Dec. 31</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Increase/<BR>(decrease)</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Long-term debt<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;3,808</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;3,466<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;&#8201;&#8199;342</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Exchangeable securities</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>750</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">744<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Bank overdraft</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Equity</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Common shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,285<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(106</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>942</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">942<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contributed surplus</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">41<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deficit</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2,458</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2,567<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)<B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>109</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accumulated other comprehensive income (loss)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>41</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(164<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)<B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>205</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT>
interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">127</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Less: Available cash and cash equivalents<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(337</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(348<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)<B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Less: Principal portion of restricted cash on TransAlta OCP bonds<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(17<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)<B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Less: Fair value (asset) liability of hedging instruments on long-term
debt<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Total capital</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,041</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5,517<B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>524</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes lease liabilities, amounts outstanding under credit facilities, tax equity liabilities,
current portion of long-term debt and new debt assumed as part of the Heartland acquisition. Refer to Note 4. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Company includes available cash and cash equivalents, as a reduction in the calculation of
capital, as capital is managed using a net debt position. These funds may be available and used to facilitate repayment of debt. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Company includes the principal portion of restricted cash on TransAlta OCP bonds as this cash
is restricted specifically to repay outstanding debt. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Company includes the fair value of economic and designated hedging instruments on debt in an
asset, or liability, position as a reduction, or increase, in the calculation of capital, as the carrying value of the related debt has either increased, or decreased, due to changes in foreign exchange rates. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F96&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s overall capital management strategy and its objectives in
managing capital are as follows: </FONT></P> <P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Maintain a Strong Financial Position </B></FONT></P>
<P STYLE="margin-top:9pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company operates in a long-cycle and capital-intensive commodity business and it is therefore a priority to maintain a strong
financial position that enables the Company to access capital markets at reasonable interest rates. Maintaining a strong balance sheet also allows our commercial team to contract the Company&#8217;s portfolio with a variety of counterparties on
terms and prices that are favourable to the Company&#8217;s financial results and provides the Company with better access to capital markets through commodity and credit cycles. The Company has an investment grade credit rating from Morningstar
DBRS. In 2024, Moody&#8217;s reaffirmed the Company&#8217;s long-term rating of Ba1 with a stable outlook. Morningstar DBRS reaffirmed the Company&#8217;s issuer rating and unsecured debt/medium-term notes rating of BBB (low) and the Company&#8217;s
preferred shares rating of <FONT STYLE="white-space:nowrap">Pfd-3</FONT> (low), all with stable outlooks, and S&amp;P Global Ratings reaffirmed the
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
Company&#8217;s senior unsecured debt rating and issuer credit rating of BB+ with a stable outlook. The Company remains focused on maintaining a strong financial position and cash flow coverage
ratios. Credit ratings provide information relating to the Company&#8217;s financing costs, liquidity and operations and affect the Company&#8217;s ability to obtain short and long-term financing and/or the cost of such financing. Management
routinely monitors forecasted net earnings, cash flows, capital expenditures and scheduled repayment of debt with a goal of maintaining its credit ratings and to meet dividend and PP&amp;E expenditure requirements. </FONT></P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Liquidity </B></FONT></P> <P STYLE="margin-top:9pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company manages variations in working capital using existing liquidity under credit facilities to ensure sufficient cash and credit are available to fund operations, pay dividends, distribute payments to subsidiaries&#8217; <FONT
STYLE="white-space:nowrap">non-</FONT> controlling interests and invest in PP&amp;E. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the years
ended Dec. 31, 2024 and 2023, cash inflows and outflows are summarized below. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="68%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;2024</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;2023</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Increase<BR>&#8195;(decrease)</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Cash flow from operating activities</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;796</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,464</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(668</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Change in <FONT STYLE="white-space:nowrap">non-cash</FONT> working capital</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(124</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>86</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Cash flow from operations before changes in working capital</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>758</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,340</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(582</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Dividends paid on common shares</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(71</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(58</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Dividends paid on preferred shares</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Distributions paid to subsidiaries&#8217; <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(223</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;183</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Property, plant and equipment expenditures</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(311</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(875</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>564</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4">&#8199;Inflow</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>284</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;133</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>151</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta maintains sufficient cash balances and committed credit facilities to fund
periodic net cash outflows related to its business. At Dec. 31, 2024, $1.5&nbsp;billion (2023 &#8212; $1.4 billion) of the Company&#8217;s credit facilities were fully available.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
From time to time, TransAlta accesses capital markets, as required, to help fund some of these periodic net cash outflows to maintain its available liquidity and maintain its capital structure
and credit metrics within targeted ranges. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F97</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>36. Related-Party Transactions </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Details of the Company&#8217;s principal operating subsidiaries at Dec. 31, 2024, are as follows: </FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="41%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="38%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;Subsidiary</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Country</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Ownership<BR>(per cent)</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Principal activity</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;TransAlta Generation Partnership</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Canada</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">100</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Generation and sale of electricity</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;TransAlta Cogeneration, L.P.</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Canada</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">50.01</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Generation and sale of electricity</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;TransAlta Centralia Generation, LLC</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">U.S.</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">100</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Generation and sale of electricity</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;TransAlta Energy Marketing Corp.</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Canada</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">100</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Energy marketing</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;TransAlta Energy Marketing (U.S.),&nbsp;Inc.</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">U.S.</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">100</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Energy marketing</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;TransAlta Energy (Australia), Pty Ltd.</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Australia</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">100</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Generation and sale of electricity</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;TransAlta Renewables Inc.</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Canada</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">100</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Generation and sale of electricity</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Heartland Generation Ltd.</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Canada</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">100<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Generation and sale of electricity</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&#8199;Alberta Power (2000)&nbsp;Ltd.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Canada</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">100<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Generation and sale of electricity</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;Associate or joint venture</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Country</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Ownership<BR>(per cent)</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Principal activity</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&#8199;SP Skookumchuck Investment, LLC</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">U.S.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">49</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Generation and sale of electricity</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">On Dec. 4, 2024, the Company completed the acquisition of Heartland. Refer to Note 4 for more
details. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Transactions between the Company and its subsidiaries have been eliminated on
consolidation and are not disclosed. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Associates and joint ventures have been equity accounted for by the Company.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F98&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Transactions with Key Management Personnel </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s key management personnel include the President and Chief Executive Officer (CEO), members of the senior
management team that report directly to the President and CEO and the members of the Board. Key management personnel compensation is as follows: </FONT></P> <P STYLE="font-size:9pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="75%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2022</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Total compensation</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Comprising:</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Short-term employee benefits</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8195;13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Post-employment benefits</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Termination benefits</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Share-based payments</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Transactions with Associates </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In connection with the exchangeable securities issued to Brookfield, the Investment
Agreement entitles Brookfield to nominate two directors to the TransAlta Board. This allows Brookfield to participate in the financial and operating policy decisions of the Company, and as such, they are considered associates of the Company.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition to the exchangeable securities disclosed in Note&nbsp;26, the Company may, in the normal course of
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
operations, enter into transactions on market terms with associates that have been measured at exchange value and recognized in the Consolidated Financial Statements, including power purchase and
sale agreements, derivative contracts and asset management fees. Transactions and balances between the Company and associates do not&nbsp;eliminate.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Transactions
with Brookfield include the following: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2022</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Power sales</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;58</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8199;135</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;127</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Purchased power</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Asset management fees paid</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F99</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>37. Commitments and Contingencies </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition to the commitments disclosed elsewhere in the financial statements, the
Company has incurred the following
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
contractual commitments, either directly or through its interests in joint operations and joint ventures.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Approximate
future payments under these agreements are as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="45%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2025</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2026</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2027</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2028</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2029</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>2030
and<BR>thereafter</B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Total</B></FONT></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Natural gas, transportation and other contracts</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">66</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">64</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">425</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">763</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Transmission</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">105</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">190</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Coal supply agreements</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Long-term service agreements</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">47</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">151</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">358</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Operating leases</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Growth</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4">&#8199;Total</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>284</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>144</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>139</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>109</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>703</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,471</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Commitments </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Natural Gas, Transportation and Other Contracts </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has natural gas transportation contracts, for a total of up to 400 terajoules (TJ) per day on a firm basis, related to
the Sundance and Keephills facilities, ending in 2036 to 2038. In addition, the Company has natural gas transportation agreements for approximately 150 TJ per day for Sheerness. The Company currently expects to use approximately 160TJ per day on
average and up to approximately 450TJ per day during peak periods, while remarketing excess capacity. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Transmission </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has several agreements to purchase transmission network capacity in the Pacific Northwest. Provided certain conditions
for delivering the service are met, the Company is committed to the transmission at the supplier&#8217;s tariff rate whether it is awarded immediately or delivered in the future after additional facilities are constructed. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Transmission commitments also include multi-year U.S. dollar denominated contracts to secure transmission capacity. The majority of
the transmission capacity supports a dedicated revenue capacity agreement, held with a counterparty in the U.S., for similar duration as the associated transmission capacity.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Coal Supply Agreements </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Various coal supply and associated rail transport contracts are in place to provide coal for use in production at the Centralia
thermal facility. The coal supply agreements allow TransAlta to take delivery of coal at fixed volumes with dates extending through 2025. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Long-Term Service Agreements </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta has various service agreements in place, primarily for
inspections, repairs and maintenance that may be required on natural gas facilities, equipment for gas and turbines at various wind facilities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Operating Leases </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Operating leases include lease commitments not recognized under IFRS 16 and
lease commitments that have not yet commenced, mainly related to buildings, vehicles and land. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Growth </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Commitments for growth include design and engineering work, long lead equipment purchases, water treatment construction and network
upgrades. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="75%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F100&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Contingencies </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company conducts internal reviews of its offers and offer behaviour in both the energy and
ancillary services markets in Alberta on an ongoing basis and will self-report suspected contraventions or respond to inquiries from regulatory agencies as required. There currently is no certainty that any particular matter will be resolved in the
Company&#8217;s favour or that such matters may not have a material adverse effect on TransAlta. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Brazeau Facility &#8212; Well
Licence Applications to Consider Hydraulic Fracturing Activities </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Alberta Energy Regulator (AER) issued a
subsurface order on May&nbsp;27, 2019, which does not permit any hydraulic fracturing within three kilometres of the Brazeau facility, but permits hydraulic fracturing in all formations (except the Duvernay) within three to five kilometres of the
Brazeau facility. Subsequently, two oil and gas operators submitted applications to the AER for 10 well licences (which include hydraulic fracturing activities) within three to five kilometres of the Brazeau facility. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s position, based on independent expert analysis commissioned by the Government of Alberta, is that hydraulic
fracturing activities within five kilometres of the Brazeau facility pose an unacceptable risk and that the applications should be denied. The regulatory hearing to consider these applications - Proceeding 379 - has been adjourned to November 2025.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Brazeau Facility &#8212; Claim against the Government of Alberta </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Sept. 9, 2022, the Company filed a Statement of Claim against the Government of Alberta in the Alberta Court of King&#8217;s
Bench seeking a declaration that: (a)&nbsp;granting mineral leases within five kilometres of the Brazeau facility is a breach of a 1960 agreement between the Company and the Alberta Government; and (b)&nbsp;the Government of Alberta is required to
indemnify the Company for any costs or damages that result from the risks of hydraulic fracturing near the Brazeau facility. On Sept. 29, 2022, the Government of Alberta filed its Statement of Defence, which asserts, among other things, that the
Company: (a)&nbsp;is trying to usurp the jurisdiction of the AER; and (b)&nbsp;is out of time under the
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
Limitations Act (Alberta). The trial is scheduled to be heard in September or October 2025 in the event the parties are unable to resolve the dispute prior to such date. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Garden Plain </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Garden Plain I LP, a wholly-owned subsidiary of the Company, retained a third-party contractor to construct the Garden Plain wind
project near Hanna, Alberta. The contractor experienced scheduling delays, challenges with construction and significant cost overruns, resulting in overdue deadlines, and has asserted a claim for $53&nbsp;million in damages. The Company disputes
this claim in its entirety and asserts a counterclaim. The parties have initiated the dispute resolution procedure with an arbitration hearing scheduled for three weeks starting April&nbsp;14, 2025. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sundance A Decommissioning </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta filed an application with the Alberta Utilities Commission seeking payment from the Balancing Pool for TransAlta&#8217;s decommissioning costs for Sundance A, including its proportionate share of the Highvale mine. The
application was heard by Alberta Utilities Commission in the first quarter of 2024. A decision was rendered on Dec.&nbsp;9, 2024, which directed the Balancing Pool to pay TransAlta $9&nbsp;million, being the shortfall of decommissioning costs of
Sundance A from previously collected amounts under the Power Purchase Arrangement Regulation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Brazeau </B>&#8212;<B> Spinning
Reserve Self-Report</B> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Nov. 30, 2022, TransAlta self-reported to the Market Surveillance Administrator (MSA) a
potential violation of the Independent System Operator rules relating to offers of active spinning reserves at Brazeau when it was not properly configured to do so between Aug. 13, 2021, and Nov. 1, 2022. In 2022 a provision of $20&nbsp;million was
initially recognized in revenue reflecting a potential disgorgement of revenue and $2&nbsp;million for potential penalties and fines. On Nov. 29, 2024, the MSA issued penalties to TransAlta for this self-report and TransAlta made a payment of
$33&nbsp;million in January 2025. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="74%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F101</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>38. Segment Disclosures </B></FONT></P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Description of Reportable Segments </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has six reportable segments as described in&nbsp;Note 1. The Gas
reportable segment includes Heartland, which was acquired on Dec. 4, 2024. The Company has aggregated Heartland within the Gas operating segment as they are similar in the nature of the product and process and are subject to similar environmental
regulations. Refer to Note 4 for more&nbsp;details. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following tables provides each segment&#8217;s results in the
format that the TransAlta&#8217;s President and Chief Executive Officer (the chief operating decision maker) (CODM) reviews the Company&#8217;s segments to make operating decisions and assess performance. The CODM assesses the performance of the
operating segments based on a measure of adjusted EBITDA. This measurement basis represents earnings before income taxes, adjusted for the effects of: depreciation of property, plant and equipment and amortization of intangibles, depreciation of <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> assets, finance lease income, unrealized <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains or losses, gains and
losses related to closed positions effectively settled by offsetting positions with exchanges recorded in the year the positions are settled, unrealized foreign exchange gains or losses on commodity transactions, interest income recorded on the
prepaid funds, Brazeau penalties, acquisition-related transaction and restructuring costs, ERP integration costs,
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
revenues and fuel and purchased power related to the Planned Divestitures, items within the Energy Transition segment that may not be reflective of ongoing operations including certain costs
related to decisions made to accelerate our transition <FONT STYLE="white-space:nowrap">off-coal</FONT> in Alberta and our planned transition <FONT STYLE="white-space:nowrap">off-coal</FONT> for Centralia, Sundance A decommissioning costs
reimbursement, impairment charges, share of (profit) loss of joint venture and other costs or income adjustments. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For
internal reporting purpose, the earnings information from the Company&#8217;s investment in Skookumchuck has been presented in the Wind and Solar segment on a proportionate basis. Information on a proportionate basis reflects the Company&#8217;s
share of Skookumchuck&#8217;s statement of earnings on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">line-by-line</FONT></FONT> 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></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The tables below show the reconciliation of the total segmented results and adjusted EBITDA to the statement of earnings reported under&nbsp;IFRS.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="75%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F102&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Reported Adjusted Segment Earnings and Segment Assets </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Reconciliation of Adjusted EBITDA to Earnings before Income Tax </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="36%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year&nbsp;ended&nbsp;Dec.&nbsp;31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>IFRS<BR>financials</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Revenues</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>409</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>357</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,350</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>616</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>168</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,866</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,845</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Reclassifications and adjustments:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> (gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>84</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(60</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Realized gain (loss) on closed exchange positions</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(15</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Revenues from Planned Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Brazeau penalties</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange gain on
commodity</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Adjusted revenues</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>390</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>449</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,321</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>582</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>167</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,875</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,845</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Fuel and purchased power</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>475</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>418</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>939</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>939</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Reclassifications and adjustments:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power related to Planned Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Australian interest income</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Adjusted fuel and purchased power</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>470</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>418</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>934</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>939</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;Carbon compliance</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>145</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>112</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>112</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;Gross margin</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>374</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>419</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>706</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>163</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>167</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,829</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,794</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;OM&amp;A</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>86</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>198</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>69</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>173</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>659</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>655</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Reclassifications and adjustments:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Brazeau penalties</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">ERP integration costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and
restructuring costs</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(24</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(24</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Adjusted OM&amp;A</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>198</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>69</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>135</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>590</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>69</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>655</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Taxes, other than income taxes</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Net other operating income</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Reclassifications and adjustments:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Sundance A decommissioning cost</FONT></P></TD>

<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;Adjusted net other operating income</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4">&#8201;Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>316</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>316</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>535</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>91</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>131</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(136</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,253</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Equity income</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Finance lease income</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(531</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Asset impairment charges</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(46</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Interest income</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Interest expense</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(324</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Foreign exchange gain</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Gain on sale of assets and&nbsp;other</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4">&#8201;Earnings before income taxes</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Adjusted EBITDA are not defined and have no standardized meaning under IFRS.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="74%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F103</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="39%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year&nbsp;ended&nbsp;Dec.&nbsp;31,&nbsp;2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>IFRS<BR>financials</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Revenues</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">533</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">357</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,514</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">751</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">220</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,376</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,355</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Reclassifications and adjustments:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> (gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(67</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Realized gain (loss) on closed exchange positions</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(91</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(81</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange gain
on&nbsp;commodity</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Adjusted revenues</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">529</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">373</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,525</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">746</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">152</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,326</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,355</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Fuel and purchased power</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">453</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">557</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,060</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,060</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Reclassifications and adjustments:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Australian interest income</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Adjusted fuel and purchased power</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">449</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">557</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,056</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,060</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;Carbon compliance</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">112</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">112</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">112</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;Gross margin</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">510</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">343</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">964</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">189</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">152</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2,158</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2,183</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;OM&amp;A</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">192</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">64</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">115</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">542</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">539</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Taxes, other than income taxes</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Net other operating income</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(47</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(47</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Reclassifications and adjustments:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Insurance recovery</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;Adjusted net other operating income</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(46</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(47</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8201;Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">459</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">257</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">801</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">122</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">109</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(116</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,632</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Equity income</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Finance lease income</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(621</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Asset impairment charges</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Interest income</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">59</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Interest expense</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(281</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Foreign exchange gain</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&#8201;Gain on sale of assets and&nbsp;other</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&#8201;Earnings before income taxes</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">880</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="75%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F104&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="38%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year&nbsp;ended&nbsp;Dec.&nbsp;31, 2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>IFRS<BR>financials</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">606</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">303</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,209</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">714</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">160</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,990</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,976</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT>
(gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">104</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">251</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">378</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(378</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Realized gain (loss) on closed exchange positions</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">47</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(43</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(46</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Brazeau penalties</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange gain on
commodity</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Adjusted revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">627</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">407</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,521</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">724</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">218</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,495</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(505</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,976</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">641</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">566</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,263</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,263</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Australian interest income</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Adjusted fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">637</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">566</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,259</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,263</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Carbon
compliance</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">78</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">78</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Gross
margin</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">605</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">375</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">801</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">159</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">218</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2,158</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(509</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,635</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">195</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">101</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">523</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">521</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Brazeau penalties</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Adjusted OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">195</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">101</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">521</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">521</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Net other operating loss (income)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(23</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(38</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(58</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Royalty onerous contract and contract termination penalties</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Adjusted net other
operating loss (income)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(16</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(38</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(54</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(58</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(2) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">549</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">311</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">629</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">86</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">183</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,656</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Equity income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(599</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(286</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Foreign exchange gain</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Gain on sale of assets and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">&#8201;Earnings before
income taxes</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="74%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F105</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Notes to the Consolidated Financial Statements&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Selected Consolidated Statements of Financial Position Information </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="46%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>As at Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;and<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">PP&amp;E</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>501</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3,428</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1,805</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>206</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>6,020&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Right-of-use</FONT></FONT>
assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>96</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>120&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Intangible assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>133</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>108</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>281&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Goodwill</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>258</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>178</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>517&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="49%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>As at Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;and<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">PP&amp;E</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">462</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,360</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,543</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">251</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">98</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5,714&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Right-of-use</FONT></FONT>
assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">94</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">117&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Intangible assets</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">141</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">223&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Goodwill</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">258</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">176</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">464&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>III. Selected Consolidated Statements of Cash Flows Information </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Additions to <FONT STYLE="white-space:nowrap">non-current</FONT> assets are as follows: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="48%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;and<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Additions to <FONT STYLE="white-space:nowrap">non-current</FONT>
assets:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">PP&amp;E<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>100</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>311&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Intangible assets<SUP
STYLE="font-size:75%; vertical-align:top">(1) </SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>10&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:7pt; font-family:arial"><FONT COLOR="#171a5f"><SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP> Excludes additions attributable to the Heartland
acquisition on Dec. 4, 2024 </FONT></P> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="48%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;and<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Additions to <FONT STYLE="white-space:nowrap">non-current</FONT>
assets:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">PP&amp;E</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">674</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">89</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">54</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">875&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Intangible
assets</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">13&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="48%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31, 2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;and<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Additions to <FONT STYLE="white-space:nowrap">non-current</FONT>
assets:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">PP&amp;E</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">745</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">918&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Intangible
assets</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">31&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="75%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F106&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Notes to the Consolidated Financial Statements</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Geographic Information </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Revenues </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="66%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2024&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2023&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2022&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Canada</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,009&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,218&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,905&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">U.S.</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>676&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">987&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">940&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Western
Australia</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>160&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">150&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">131&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total
revenue</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,845&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,355&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2,976&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. <FONT STYLE="white-space:nowrap">Non-Current</FONT> Assets </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="48%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Property,&nbsp;plant&nbsp;and<BR>equipment</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Right-of-use</FONT></FONT><BR>assets</B></FONT></TD>

<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Intangible&nbsp;assets</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Other&nbsp;assets</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>As at Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Canada</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3,828</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,578</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>41</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>170</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">108</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">68&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">U.S.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,852</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,749</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>74</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">71</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>86</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">42&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Western
Australia</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>340</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">387</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>25</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>58</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">69&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>6,020</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5,714</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>120</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">117</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>281</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">223</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">179&#8199;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>D. Significant Customer </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31, 2024, sales to the Alberta Electric System Operator
represented 24&nbsp;per cent of the Company&#8217;s total revenue (2023 &#8212; 46&nbsp;per cent of the Company&#8217;s total revenue). There were no other companies
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
that accounted for more than 10&nbsp;per cent of the Company&#8217;s total revenue.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="74%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F107</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_18"></A>EXHIBIT&nbsp;&#8220;B&#8221; </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ANNUAL MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS AS OF AND FOR THE YEAR ENDED DECEMBER 31,
2024 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">See attached. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SB-1 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">&#8195; </FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">


<IMG SRC="g938159g08g08.jpg" ALT="LOGO" STYLE="width:2.735in;height:0.495in;">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:30pt; font-family:arial"><FONT COLOR="#171a5f"><B>TRANSALTA CORPORATION </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:30pt; font-family:arial"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:30pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>and Analysis </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">This Management&#8217;s Discussion and Analysis (MD&amp;A) contains forward-looking
statements. These statements are based on certain estimates and assumptions and involve risks and uncertainties. Actual results may differ materially. Refer to the Forward-Looking Statements section of this MD&amp;A for additional information.
</FONT></P> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Table of Contents </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #171a5f">&nbsp;</DIV> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">


<TR>

<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="43%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M2</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_1">Forward-Looking Statements</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M76</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_19">Key <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Financial Ratios</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M4</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_2">Description of the Business</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M77</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_20">2025 Outlook</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M6</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_3">Highlights</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M79</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_21">Material Accounting Policies and Critical Accounting Estimates</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M16</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_4">Capital Expenditures</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M85</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_22">Accounting Changes</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M17</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_5">Significant and Subsequent Events</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M86</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_23">Sustainability</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M19</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_6">Segmented Financial Performance and Operating Results</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M87</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_24">Our 2024 Sustainability Performance</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="3"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M29</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_7">Performance by Segment with Supplemental Geographical Information</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M89</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_25">2025+Sustainability Targets</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M29</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_8">Optimization of the Alberta Portfolio</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M92</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_26">Transitioning Our Energy Mix</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M34</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_9">Fourth Quarter Highlights</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M98</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_27">Key Climate Scenario Findings</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M38</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_10">Segmented Financial Performance and Operating Results for the Fourth Quarter</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M101</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_28">Managing Climate Change Risks and Opportunities</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M42</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_11">Selected Quarterly Information</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M112</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_29">Enabling Innovation and Technology Adoption</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M43</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_12">Strategic Priorities</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M114</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_30">Managing Environmental Resources</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="3"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M48</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_13">Financial Position</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M123</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_31">Engaging with Our Stakeholders to Create Positive Relationships</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M50</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_14">Financial Capital</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M129</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_32">Building a Diverse and Inclusive Workforce</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M56</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_15">Cash Flows</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M131</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_33">Delivering Reliable and Affordable Energy</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M60</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_16">Other Consolidated Analysis</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M133</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_34">Sustainability Governance</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M62</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_17">Financial Instruments</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M134</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_35">Governance and Risk Management</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>M64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_18">Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures</A></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>M155</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sbm938159_36">Disclosure Controls and Procedures</A></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #171a5f">&nbsp;</DIV>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="justify"><FONT COLOR="#171a5f"><I>This MD&amp;A should be read in conjunction with our 2024 audited annual consolidated financial statements (the consolidated
financial statements) and our 2024 Annual Information Form&nbsp;(AIF), each for the fiscal year ended Dec. 31, 2024. In this MD&amp;A, unless the context otherwise requires, &#8220;we&#8221;, &#8220;our&#8221;, &#8220;us&#8221;, the
&#8220;Company&#8221; and &#8220;TransAlta&#8221; refer to TransAlta Corporation and its subsidiaries. The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) for Canadian
publicly accountable enterprises as issued by the International Accounting Standards Board (IASB) and in effect at Dec. 31, 2024. All tabular amounts in the following discussion are in millions of Canadian dollars unless otherwise noted, except
amounts per share, which are in whole dollars to the nearest two decimals. This MD&amp;A is dated Feb. 19, 2025. Additional information respecting TransAlta, including our AIF for the year ended Dec. 31, 2024, is available on SEDAR+ at
</I><B><I>www.sedarplus.ca</I></B><I>, on EDGAR at </I><B><I>www.sec.gov</I></B><I></I><B><I> </I></B><I>and on our website at </I><B><I>www.transalta.com</I></B><I>. Information on or connected to our website is not incorporated by reference
herein. </I></FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="78%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M1</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_1"></A>Forward-Looking Statements </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">This MD&amp;A includes &#8220;forward-looking information&#8221; within the meaning
of applicable Canadian securities laws and &#8220;forward-looking statements&#8221; within the meaning of applicable U.S. securities laws, including the <I>Private Securities Litigation Reform Act </I>of 1995 (collectively referred to herein as
&#8220;forward-looking statements&#8221;). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Forward-looking statements are not facts, but only predictions and generally
can be identified by the use of statements that include phrases such as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;can&#8221;, &#8220;could&#8221;, &#8220;would&#8221;, &#8220;shall&#8221;, &#8220;believe&#8221;, &#8220;expect&#8221;,
&#8220;estimate&#8221;, &#8220;anticipate&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;forecast&#8221;, &#8220;foresee&#8221;, &#8220;potential&#8221;, &#8220;enable&#8221;, &#8220;continue&#8221; or other comparable terminology. 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 those set out
in or implied by the forward-looking statements. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In particular, this MD&amp;A contains forward-looking statements about
the following, among other things: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The strategic objectives of the Company and that the execution of the Company&#8217;s strategy will
realize value for shareholders; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our capital allocation and financing strategy; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our sustainability goals and targets, including those in our 2024 Sustainability Report;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our 2025 Outlook; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our financial and operational performance, including our hedge position;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Optimizing and diversifying our existing assets; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The increasingly contracted nature of our fleet; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Expectations about strategies for growth and expansion, including opportunities for Centralia
redevelopment, and data centre opportunities; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Expected costs and schedules for planned projects; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Expected regulatory processes and outcomes, including in relation to the Alberta restructured
energy market; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The power generation industry and the supply and demand of electricity;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The cyclicality of our business; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Expected outcomes with respect to legal proceedings; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The expected impact of future tax and accounting changes; and </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Expected industry, market and economic conditions. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The forward-looking statements contained in this MD&amp;A are based on many assumptions including, but not limited to, the
following: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to applicable laws and regulations; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No unexpected delays in obtaining required regulatory approvals;
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No material adverse impacts to investment and credit markets; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to power price and hedging assumptions; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to gas commodity price assumptions and transport costs;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to interest rates; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to the demand and growth of renewables generation;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to the integrity and reliability of our facilities;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to the Company&#8217;s debt and credit ratings;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No unforeseen changes to economic and market conditions; and </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant event occurring outside the ordinary course of business.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These assumptions are based on information currently available to TransAlta, including information
obtained from third-party sources. Actual results may differ materially from those predicted by such assumptions. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Factors that may adversely impact what is expressed or implied by forward-looking statements contained in this MD&amp;A include, but
are not limited to: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Fluctuations in power prices; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Changes in supply and demand for electricity; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our ability to contract our electricity generation for prices that will provide expected returns;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our ability to replace contracts as they expire; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Risks associated with development projects and acquisitions; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Any difficulty raising needed capital in the future on reasonable terms or at all;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our ability to achieve our targets relating to environmental, social and governance (ESG)
performance; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Long-term commitments on gas transportation capacity that may not be fully utilized over time;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Changes to the legislative, regulatory and political environments; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Environmental requirements and changes in, or liabilities under, these requirements;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Operational risks involving our facilities, including unplanned outages and equipment failure;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Disruptions in the transmission and distribution of electricity; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Reductions in production; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Impairments and/or writedowns of assets; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Adverse impacts on our information technology systems and our internal control systems, including
increased cybersecurity threats; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Commodity risk management and energy trading risks;
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M2</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Reduced labour availability and ability to continue to staff our operations and facilities;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Disruptions to our supply chains; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Climate-change related risks; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Reductions to our generating units&#8217; relative efficiency or capacity factors;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">General economic risks, including deterioration of equity markets, increasing interest rates or
rising inflation; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">General domestic and international economic and political developments, including potential trade
tariffs; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Industry risk and competition; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Counterparty credit risks; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Inadequacy or unavailability of insurance coverage; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increases in the Company&#8217;s income taxes and any risk of reassessments;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Legal, regulatory and contractual disputes and proceedings involving the Company;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Reliance on key personnel; and </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Labour relations matters. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The foregoing risk factors, among others, are described in further detail in the Governance and Risk Management section of this
MD&amp;A. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Readers are
urged to consider these factors carefully when evaluating the forward-looking statements, which reflect the Company&#8217;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 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&#8217;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></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="78%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M3</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_2"></A>Description of the Business </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta Corporation is one of Canada&#8217;s largest publicly traded power
generators, owning and operating a diverse fleet across Canada, the United States and Western Australia. Our portfolio includes hydro, wind, solar, battery storage, natural gas and coal, complemented by our exceptional asset optimization and energy
marketing capabilities. As one of Canada&#8217;s largest producers of wind and thermal generation and Alberta&#8217;s largest producer of hydro power, TransAlta remains committed to a balanced, technology-agnostic generation mix. With strong cash
flows underpinned by a high-quality portfolio, TransAlta strives to deliver sustainable long-term shareholder value in an evolving energy landscape. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s goal is to deliver solutions to meet our customers&#8217; needs for reliable, sustainable power. With over a
century of experience, TransAlta is a trusted partner delivering tailored solutions. Our strategic priorities include optimizing our Alberta Portfolio, executing our growth plan, realizing the value of our legacy generating facilities, maintaining
financial strength and capital discipline, defining the next generation of power solutions and leading in ESG and market policy development. We are primarily focused on opportunities within our core markets of Canada, the United States and Western
Australia. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our sustainability goals include our commitment to cease coal-fired generation at the end of 2025. We remain
on track to achieve our 2026 target of 75&nbsp;per cent scope 1 and 2 GHG emissions reductions since 2015 and our carbon <FONT STYLE="white-space:nowrap">net-zero</FONT> goal by 2045. Since 2005, we have reduced our scope 1 and 2 GHG emissions by
32&nbsp;million tonnes (MT) of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e or an 77&nbsp;per cent reduction, representing approximately 11&nbsp;per cent of Canada&#8217;s Paris Agreement 2030 decarbonization target<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP>.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Portfolio of Assets </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our asset portfolio is geographically diversified with operations across our core markets. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Hydro, Wind and Solar, Gas and Energy Transition segments are responsible for operating and maintaining our generation
facilities. Our Energy Marketing segment is responsible for marketing and scheduling our merchant asset fleet in North America (excluding Alberta) along with the procurement, transport and storage of natural gas, providing knowledge to support our
growth team, and generating a stand-alone gross margin separate from our asset business through a leading North American energy marketing and trading platform. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our highly diversified portfolio consists of both merchant assets and high-quality contracted assets. Our merchant assets include
our unique hydro merchant portfolio and our merchant legacy thermal portfolio and wind assets. Our merchant exposure is primarily in Alberta, where 58&nbsp;per cent of our capacity is located and 77&nbsp;per cent of our Alberta capacity is available
to participate in the merchant market. Our high-quality contracted assets provide stable long-term cash flow and earnings, balancing our merchant fleet. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In Alberta, the Company manages merchant exposure by executing hedging strategies that include a significant base of commercial and
industrial (C&amp;I) customers, supplemented with financial hedges. A significant portion of our thermal generation capacity in Alberta is hedged to provide greater cash flow certainty while also capturing higher returns for our shareholders through
the optimization of our merchant generation portfolio. Refer to the 2025 Outlook section and the Optimization of the Alberta Portfolio of this MD&amp;A for further details.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:96pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:120pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">In 2005, TransAlta&#8217;s estimated scope 1 and 2 GHG emissions were 41.9 MT of CO<SUB
STYLE="font-size:75%; vertical-align:bottom">2</SUB>e, which did not receive independent limited assurance. Canada&#8217;s Paris Agreement 2030 decarbonization target assumed 293 MT of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e or
a 40&nbsp;per cent reduction from a 2005 baseline of 732 MT of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M4</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides our consolidated ownership by
segment of our facilities across the regions in which we operate as of Dec. 31, 2024: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="23%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp; Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8201;Year ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8201;Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gross<BR>Installed<BR>Capacity<BR>(MW)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number&nbsp;of<BR>facilities</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gross<BR>Installed<BR>Capacity<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number&nbsp;of<BR>facilities</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gross<BR>Installed<BR>Capacity<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number&nbsp;of<BR>facilities<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gross<BR>Installed<BR>Capacity<BR>(MW)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number&nbsp;of<BR>facilities<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gross<BR>Installed<BR>Capacity<BR>(MW)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number&nbsp;of&#8201;<BR>facilities&#8201;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">834</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">17</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">764</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">14</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">3,650</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">15</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">5,248</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">46&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Canada, excluding Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">88</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">7</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">751</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">9</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">705</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">4</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,544</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">20&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;U.S.</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,024</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">10</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">29</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">671</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">2</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,724</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">13&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Western Australia</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">48</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">3</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">450</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">6</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">498</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">9&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>922</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>2,587</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>4,834</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>9,014</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>88&#8201;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gross installed capacity for consolidated reporting is based on a proportionate interest held in
a facility. Refer to the Plant Summary section for details. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes 1,747 MW of capacity attributable to nine facilities acquired from Heartland, which
exclude the Planned Divestitures. Refer to the Significant and Subsequent events section. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes the Centralia coal facility and the Skookumchuck hydro facility.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Contracted Capacity </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides our contracted capacity by segment in MW and as a percentage of total gross installed capacity of our
facilities across the regions in which we operate as of Dec. 31, 2024: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="68%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">336</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">887</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,223&#8194;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Canada, excluding Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">88</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">751</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">705</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,544&#8194;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;U.S.</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,024</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">381&#8201;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,434&#8194;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#43c5e4"><B>&#8201;Western Australia</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">450</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">498&#8194;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#43c5e4"><B>&#8201;Total contracted capacity (MW)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">88</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">2,159</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">2,071</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">381&#8201;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">4,699&#8194;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#43c5e4"><B>&#8201;Contracted capacity as a % of total capacity (%)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">10</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">57&#8201;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">52&#8194;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes contracted capacity of 436 MW from facilities acquired from Heartland: 376 MW in Alberta
and 60 MW in Canada, excluding Alberta. The figures exclude the contracted capacity of Planned Divestitures. Refer to the Significant and Subsequent events section. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Approximately 52&nbsp;per cent of our total installed capacity is contracted. Contracts are primarily with strong creditworthy
counterparties. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides the weighted average contract life by segment of our contracted and
merchant facilities across the regions in which we operate as of Dec. 31, 2024: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="65%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total&#8201;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">7</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">2</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">3&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Canada, excluding Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">15</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">9</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">7</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">8&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;U.S.</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">13</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">8&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Western Australia</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">14</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">14</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">14&#8201;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Total weighted average contract life (years)<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">1</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">10</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">4</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">5&#8201;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total weighted average contract life calculation of our gas facilities as at Dec. 31, 2024
includes the contracts added from the acquisition of Heartland and excludes the contracts pertaining to Planned Divestitures. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The contract life of merchant facilities is included as nil years. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="78%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M5</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_3"></A>Highlights </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31, 2024, the Company demonstrated strong financial and
operational performance. The results were within the upper range of management&#8217;s expectations due to active management of the Company&#8217;s merchant portfolio and hedging strategies. During 2024, the Company settled a higher volume of hedges
at prices that were significantly above the spot market in Alberta and achieved commercial operation at the White Rock and Horizon Hill wind facilities. On Dec. 4, 2024, the Company also completed the acquisition of Heartland Generation, which added
1,747 MW to gross
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
installed capacity. IFRS financial results include the Poplar Hill and Rainbow Lake facilities, (collectively, the Planned Divestitures), which the Company agreed to divest pursuant to a consent
agreement entered into with the Commissioner of Competition for Canada. Our <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures and operational KPIs exclude the results of the Planned Divestitures. Refer to the Significant and Subsequent
Events section of this MD&amp;A for details on the Heartland acquisition and the Planned Divestitures. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8.5pt" ALIGN="center">


<TR>

<TD WIDTH="71%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Operational information</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Availability (%)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>91.2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">88.8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">89.8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;22,811</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;22,029</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;21,258</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Select financial information</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,845</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,355</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,976</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,253</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,632</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,656</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Earnings before income taxes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">880</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Net earnings attributable to common shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>177</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">644</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flows</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Cash flow from operating activities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>796</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,464</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">877</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Funds from
operations<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>810</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,351</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,346</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Free cash
flow<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>569</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">890</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">961</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Per share</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Weighted average number of common shares outstanding</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>302</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">276</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">271</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Net earnings per share attributable to common shareholders, basic&nbsp;and
diluted</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2.33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.01</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Dividends declared per common share</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.22</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.21</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Dividends declared per preferred share</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1.33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.25</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Funds from operations per
share<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2.68</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4.89</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4.97</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Free cash flow per share<SUP
STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.88</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3.22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3.55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Liquidity and capital resources</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Available
liquidity<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,616</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,738</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,118</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted net debt to adjusted EBITDA (times)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2.1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Total consolidated net
debt<SUP STYLE="font-size:75%; vertical-align:top">(1)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,798</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,453</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,854</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Assets and liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Total assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9,499</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">8,659</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10,741</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Total long-term
liabilities<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,087</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5,253</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5,864</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Total liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(7)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7,656</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">6,995</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8,752</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These items are not defined and have no standardized meaning under IFRS and may not be
comparable to similar measures presented by other issuers. 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. Refer to the Segmented Financial Performance and Operating Results section of this MD&amp;A for further discussion of these items, including, where applicable, reconciliations to measures calculated in accordance with IFRS. Also, refer to
the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Funds from operations (FFO) per share and free cash flow (FCF) per share are calculated using
the weighted average number of common shares outstanding during the period. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A for the purpose of these <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> ratios. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Refer to the table in the Financial Capital section of this MD&amp;A for more details on the
composition of total consolidated net debt. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During 2024 our adjusted EBITDA composition was amended to exclude the impact of Brazeau
penalties and related provisions. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Available liquidity is calculated as a sum of total available capacity under the committed credit
and term facilities and cash and cash equivalents net of bank overdraft, less the amounts drawn under the <FONT STYLE="white-space:nowrap">non-committed</FONT> demand facilities. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(6)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total long-term liabilities correspond to total
<FONT STYLE="white-space:nowrap">non-current</FONT> liabilities in the consolidated statements of financial position under IFRS . </FONT></P></TD></TR></TABLE> <P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(7)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total liabilities correspond to a sum of current and
<FONT STYLE="white-space:nowrap">non-current</FONT> liabilities in the consolidated statements of financial position under IFRS. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M6</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Operating Performance </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Availability </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides availability (%) by segment: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="72%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#636466">Hydro</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>90.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">90.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">96.7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#636466">Wind and Solar</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>93.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">86.9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">83.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#636466">Gas</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>92.2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">91.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">94.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#636466">Energy Transition<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">79.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">77.2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Availability
(%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>91.2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">88.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">89.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Availability adjusted for dispatch optimization for the year ended 2022 was 79&nbsp;per cent.
</FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Availability is an important measure for the Company as it represents the percentage
of time a facility is available to produce electricity and is an indicator of the overall performance of the fleet. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Company schedules dedicated time (planned outages) to maintain, repair or make improvements to the facilities at a time that will minimize the impact to operations. In high price environments, actual outage schedules may change to accelerate the
return to service of the unit. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Availability for the year ended Dec. 31, 2024, was 91.2&nbsp;per cent, compared to 88.8&nbsp;per cent in 2023, consistent with
management&#8217;s expectations. Higher availability compared to the prior year was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The addition of the White Rock and Horizon Hill wind facilities; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The return to service of the Kent Hills wind facilities.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Availability for the year ended Dec. 31, 2023, was 88.8&nbsp;per cent, compared to 89.8&nbsp;per cent in 2022. Lower availability
compared to the prior year was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Planned outages in the Hydro segment, mainly at our Alberta Hydro Assets, to perform scheduled
maintenance; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Planned outages at Sundance Unit 6, Sheerness Unit 1, Keephills Units 2 and 3 and Sarnia for
scheduled maintenance in the Gas segment; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower planned outages at Centralia Unit 2 in the Energy Transition segment; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The partial return to service of the Kent Hills wind facilities.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Production and Long-Term
Average Generation </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides the long-term average generation (LTA generation) on a consolidated
basis for each of our segments: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Actual<BR>production<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>LTA<BR>generation<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Production<BR>as a % of<BR>LTA</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Actual<BR>production<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>LTA<BR>generation<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Production<BR>as a % of<BR>LTA</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Actual<BR>production<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>LTA<BR>generation<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Production<BR>as a % of<BR>LTA</B></FONT></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Hydro</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>1,723</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>2,015</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>86%</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,769</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,015</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">88%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,988</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,015</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">99%</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Wind and Solar</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>5,949</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>6,876</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>87%</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4,243</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5,127</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">83%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4,248</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4,950</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">86%</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Gas</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>12,317</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">11,873</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">11,448</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Energy Transition</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>2,822</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">4,144</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">3,574</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>22,811</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">22,029</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">21,258</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="78%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M7</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition to availability, the Company uses LTA generation as another indicator of
performance for the renewable facilities whereby actual production levels are compared against the expected long-term average. In the short term, for each of the Hydro and Wind and Solar segments, the conditions will vary from one period to the
next. Over longer durations, facilities are expected to produce in line with their long-term averages, which is broadly considered a reliable indicator of performance. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">LTA generation is calculated 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 greater than 25 years. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The LTA generation for Gas and
Energy Transition is not applicable as these facilities are dispatchable and their production is largely dependent on market conditions and merchant demand. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total production for 2024 increased by 782 GWh, or four per cent, compared to
2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Production from new facilities, including the White Rock West and East wind facilities commissioned
in January and April 2024, respectively, the Horizon Hill wind facility commissioned in May 2024, and the Northern Goldfields solar facilities commissioned in November 2023; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Production from the facilities acquired with Heartland; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable market conditions in the Ontario wholesale power market that enabled higher dispatch at
the Sarnia facility in the Gas segment that resulted in higher merchant production to the Ontario grid; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The return to service of the Kent Hills wind facilities in the first quarter of 2024; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Full-year production from the Garden Plain wind facility; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increased economic dispatch at the Centralia facility due to lower market prices compared to the
prior year in the Energy Transition segment; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher dispatch optimization in Alberta.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total production for 2023, increased by 771 GWh, or four per cent, compared to 2022, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower planned and unplanned outages at the Centralia facility in the Energy Transition segment
compared to prior year, which allowed the Company to increase dispatch during the periods of higher merchant pricing; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher availability in the Gas segment during periods of supply tightness, allowing for the Company
to operate during periods of peak pricing; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Production from new facilities, including the Garden Plain wind facility, commissioned in August
2023 and the Northern Goldfields solar facilities in November 2023; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The partial return to service of the Kent Hills wind facilities in the fourth quarter of 2023,
partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower than average wind and water resources in the year; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower availability in the Hydro segment due to increased planned maintenance outages compared to
2022; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Relatively mild weather in the fourth quarter of 2023, compared to the same period in 2022 when
markets experienced tighter supply due to the extreme cold weather in Alberta. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M8</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Market Pricing </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="72%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Alberta spot power price ($/MWh)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>63</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">134</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">162</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">&#8199;Mid-Columbia</FONT> spot power price (US$/MWh)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>56</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">76</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">82</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Ontario spot power price ($/MWh)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>32</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">28</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">47</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&#8199;Natural gas price (AECO) per GJ ($)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;1.29</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">2.54</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">5.08</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31, 2024, spot electricity prices in Alberta were 53&nbsp;per
cent lower compared to 2023, driven by lower natural gas prices and the anticipated increased supply from new renewable and combined-cycle gas facilities. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Spot electricity prices in the Pacific Northwest were 26&nbsp;per cent lower compared to 2023 due to lower natural gas prices.
</FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">AECO natural gas prices for the year ended Dec. 31, 2024, were 49&nbsp;per cent lower compared to 2023, mainly due to
higher gas production and higher storage levels in Alberta and throughout North America. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31,
2023, spot electricity prices in Alberta and the Pacific Northwest were lower compared to </FONT></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">2022. Lower prices in both regions resulted from lower natural gas prices and overall
weaker weather-driven demand in the second half of 2023, with notably lower prices due to above normal weather patterns in the fourth quarter of 2023. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For Alberta specifically, warm weather in the fourth quarter of 2023 resulted in a strong wind resource pattern, which, combined
with new installed capacity, added supply in the market compared to the prior year. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">AECO natural gas prices for the
year ended Dec. 31, 2023, were lower compared to 2022, mainly due to increased production and storage levels in Alberta and North America. </FONT></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Financial Performance
Review of Consolidated Information </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="72%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023&#8196;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Revenues</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8201;&#8195;2,845</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">3,355&#8196;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">2,976</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Fuel and purchased power</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>939</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,060&#8196;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,263</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Carbon compliance</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>112</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">112&#8196;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">78</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Operations, maintenance and administration</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>655</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">539&#8196;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">521</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>531</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">621&#8196;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">599</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Asset impairment charges (reversals)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>46</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">(48)</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">9</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Interest income</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">59&#8196;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">24</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Interest expense</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>324</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">281&#8196;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">286</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Earnings before income taxes</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">880&#8196;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">353</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Income tax expense</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">84&#8196;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">192</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Net earnings attributable to common shareholders</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>177</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">644&#8196;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">4</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&#8199;Net earnings attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">101&#8196;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">111</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Revenues</B> totalling $2,845&nbsp;million, decreased by $510&nbsp;million, or
15&nbsp;per cent, compared to 2023, primarily due to: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower merchant spot and hedged power prices in the Alberta market; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower revenue from derivatives and other trading activities in the Wind and Solar segment driven by
higher unrealized <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses on the long-term wind energy sales related to the Oklahoma facilities, primarily due to
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left" COLOR="#636466">&nbsp;</TD>
<TD WIDTH="1">&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">
strengthening forecasted wind capture prices reflected in the year; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower revenue at Centralia due to higher economic dispatch driven by lower market prices; partially
offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher revenue from derivatives and other trading activities in the Gas segment driven by higher
volume of favourable hedging positions settled, which generated positive contributions over settled spot prices in Alberta;
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="78%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M9</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher environmental and tax attributes revenues from the Hydro segment and the sale of production
tax credits from the Oklahoma wind facilities to taxable U.S. counterparties; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Commercial operation of the White Rock and Horizon Hill wind facilities, the Northern Goldfields
solar facilities, the Mount Keith 132kV expansion and return to service of the Kent Hills wind facilities; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher revenue in the Gas segment with the acquisition of Heartland. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Fuel and purchased power costs </B>totalling $939&nbsp;million, decreased by $121&nbsp;million, or 11&nbsp;per cent, compared to
2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower purchased power costs driven by lower <FONT STYLE="white-space:nowrap">Mid-</FONT> Columbia
prices on repurchases of power; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower fuel consumption due to higher dispatch optimization in the Gas segment in Alberta and higher
economic dispatch in the Energy Transition segment; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower natural gas prices. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Carbon compliance costs </B>totalling $112&nbsp;million, were consistent with 2023, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Utilization of internally generated and externally purchased emission credits to settle a portion
of our 2023 GHG obligation; offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price from $65 per tonne in 2023 to $80 per tonne in 2024; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production in the Gas segment. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>OM&amp;A expenses </B>totalling $655&nbsp;million, increased by $116&nbsp;million, or 22&nbsp;per cent, compared to 2023,
primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Penalties assessed by the Alberta Market Surveillance Administrator for self-reported
contraventions pertaining to hydro ancillary services provided during 2021 and 2022; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spend to support strategic and growth initiatives; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The addition of the White Rock and Horizon Hill wind facilities and the return to service of the
Kent Hills wind facilities; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Heartland acquisition-related transaction and restructuring costs, mainly comprising severance,
legal and consulting fees; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spending related to the planning and design of an upgrade to our enterprise resource
planning (ERP) system. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Depreciation and amortization </B>totalling $531&nbsp;million, decreased by
$90&nbsp;million, or 14&nbsp;per cent, compared to 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Revisions to useful lives of certain facilities in prior and current periods; partially offset by
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Commercial operation of the White Rock and Horizon Hill wind facilities and return to service of
the Kent Hills wind facilities. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Asset impairment charges </B>totalling $46&nbsp;million, increased
by $94&nbsp;million, compared to asset impairment recoveries in 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in decommissioning and restoration provisions on retired assets driven by a decrease in
discount rates and revisions in estimated decommissioning costs; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Impairment charges related to development projects that are no longer proceeding.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Interest income </B>totalling $30&nbsp;million, decreased by $29&nbsp;million, or 49&nbsp;per cent,
compared to 2023, primarily due to lower cash balances and lower interest rates. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Interest expense </B>totalling
$324&nbsp;million, increased by 43&nbsp;million, or 15&nbsp;per cent, compared to 2023, primary due to lower capitalized interest resulting from lower construction activity in 2024 compared to 2023. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Earnings before income taxes </B>totalling $319&nbsp;million, decreased by $561&nbsp;million, or 64&nbsp;per cent, compared to
2023, due to the above noted items. Refer to the Segment Financial Performance and Operating Results section for additional information. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466"><B>Income tax expense </B>totalling $80&nbsp;million, decreased by $4&nbsp;million, or five per cent, compared to 2023, due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower earnings before income taxes due to the above noted items; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">A recovery related to the reversal of previously derecognized Canadian deferred tax assets.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Net earnings attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests
</B>totalling $10&nbsp;million, decreased by $91&nbsp;million, or 90&nbsp;per cent, compared to 2023, primarily due to lower net earnings for TransAlta Cogeneration, LP (TA Cogen) resulting from lower merchant pricing in the Alberta market and the
acquisition of TransAlta Renewables Inc. (TransAlta Renewables) on Oct. 5, 2023. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M10</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Revenues </B>totalling $3,355&nbsp;million, increased by $379&nbsp;million, or
13&nbsp;per cent, compared to 2022, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher realized and unrealized gains from hedging and derivative positions across the segments;
partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower revenue from merchant sales due to lower spot power prices and production in Alberta.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Fuel and purchased power costs </B>totalling $1,060&nbsp;million, decreased by $203&nbsp;million,
or 16&nbsp;per cent, compared to 2022, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower natural gas commodity pricing; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher fuel usage in both the Gas and Energy Transition segments. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Carbon compliance costs </B>totalling $112&nbsp;million, increased by $34&nbsp;million, or 44&nbsp;per cent, compared to 2022,
primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price per tonne from $50 per tonne in 2022 to $65 per tonne in 2023;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production in the Gas segment; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No utilization of emission credits to settle GHG obligations as was done in the prior year.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>OM&amp;A expenses </B>totalling $539&nbsp;million, increased by $18&nbsp;million, or three per
cent, compared to 2022, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spending on strategic and growth initiatives; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher costs associated with the relocation of the Company&#8217;s head office; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increased costs due to inflationary pressures. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Depreciation and amortization </B>totalling $621&nbsp;million, increased by $22&nbsp;million, or four per cent, compared to 2022,
primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Revisions to useful lives of certain facilities; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Commercial operation of new facilities. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Asset impairment reversals </B>totalling $48&nbsp;million, increased by $57&nbsp;million, compared to an asset impairment charge
in 2022, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">decommissioning and restoration provisions for retired assets being favourably impacted by a change
in timing of expected cash outflows, partially offset by lower discount rates, resulting in a net impairment reversal of $34&nbsp;million; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">A Hydro segment impairment reversal of $10&nbsp;million due to a contract extension and favourable
changes in power price assumptions.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Interest income </B>totalling $59&nbsp;million, increased by $35&nbsp;million, or
146&nbsp;per cent, compared to 2022, primarily due to higher cash balances and favourable interest rates. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Earnings
before income taxes </B>totalling $880&nbsp;million, increased by $527&nbsp;million, or 149&nbsp;per cent, compared to 2022, due to the above noted items. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Income tax expense </B>totalling $84&nbsp;million, decreased by $108&nbsp;million, or 56&nbsp;per cent, compared to 2022, due to
a recovery relating to the reversal of previously derecognized Canadian deferred tax assets and lower U.S. <FONT STYLE="white-space:nowrap">non-deductible</FONT> expenses relating to U.S. operations, partially offset by higher earnings from Canadian
operations. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Net earnings attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests
</B>totalling $101&nbsp;million, decreased by $10&nbsp;million, or nine per cent, compared to 2022, primarily due to lower net earnings for TA Cogen.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M11</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Adjusted EBITDA &#8212; 2024 versus 2023 </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31, 2024, the Company&#8217;s adjusted EBITDA was $1,253&nbsp;million as compared to $1,632&nbsp;million in
2023, a decrease of $379&nbsp;million, or 23&nbsp;per cent. The major factors impacting adjusted EBITDA are summarized in the following table: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="88%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD ROWSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#171a5f"><B>Year&nbsp;ended</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31,
2023</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,632</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Hydro: </B></FONT><FONT COLOR="#636466">Lower
primarily due to lower spot power prices and ancillary services prices in the Alberta market, partially offset by realized premiums above the spot power prices, higher environmental and tax attributes revenues due to higher sales of emission credits
to third parties and intercompany sales to the Gas segment and higher ancillary service volumes due to increased demand by the Alberta Electric System Operator (AESO).</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(143</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Wind and Solar:
</B></FONT><FONT COLOR="#636466">Higher primarily due to new sales of production tax credits, the return to service of the Kent Hills wind facilities, the commercial operation of the White Rock and Horizon Hill wind facilities, partially offset by
lower realized power pricing in the Alberta market and higher OM&amp;A due to the addition of new wind facilities.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">59</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Gas: </B></FONT><FONT COLOR="#636466">Lower
primarily due to lower power prices in the Alberta market and resulting increase in economic dispatch, an increase in the price of carbon, higher carbon costs and fuel usage related to production and lower capacity payments, partially offset by a
higher volume of favourable hedging positions settled, the utilization of emission credits to settle a portion of our 2023 GHG obligation and lower natural gas prices.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(266</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Energy Transition: </B></FONT><FONT
 COLOR="#636466">Lower primarily due to increased economic dispatch driven by lower market prices which negatively impacted merchant production, partially offset by lower fuel and purchased power costs.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(31</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Energy Marketing: </B></FONT><FONT
 COLOR="#636466">Higher primarily due to favourable market volatility and the timing of realized settled trades during the current year in comparison to the prior year and lower OM&amp;A.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Corporate:
</B></FONT><FONT COLOR="#636466">Lower primarily due to higher spend to support strategic and growth initiatives.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(20</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP> for the year ended Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8194;1,253</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS and may not be
comparable to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. For a comparison of 2024 and 2023 earnings before income tax,
the most directly comparable IFRS measure, see pages <FONT STYLE="white-space:nowrap">M67-M68</FONT> </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M12</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Adjusted EBITDA &#8212; 2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31, 2023, the Company&#8217;s adjusted EBITDA was $1,632&nbsp;million compared to $1,656&nbsp;million in
2022, a decrease of $24&nbsp;million. The major factors impacting adjusted EBITDA are summarized in the following table: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="88%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD ROWSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#171a5f"><B>Year&nbsp;ended</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31, 2022<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,656</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Hydro: </B></FONT><FONT COLOR="#636466">Lower
primarily due to lower ancillary services volumes, lower spot power and ancillary services prices in the Alberta market, lower production due to lower availability and lower than average water resources, partially offset by realized gains from
hedging strategy and sales of environmental attributes.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(90</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Wind and Solar:
</B></FONT><FONT COLOR="#636466">Lower primarily due to lower environmental attribute revenues, lower realized power prices in Alberta, lower wind resource across the operating fleet, lower liquidated damages recognized at the Windrise wind facility
and higher OM&amp;A, partially offset by the commercial operation of the Garden Plain wind facility, the Northern Goldfields solar facilities and the partial return to service of the Kent Hills wind facilities.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(54</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Gas: </B></FONT><FONT COLOR="#636466">Higher
primarily due to higher power price hedges partially offsetting the impacts of lower Alberta spot prices, lower natural gas commodity costs and higher production, partially offset by lower thermal revenues, higher carbon prices and higher carbon
costs and fuel usage related to production.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">172</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Energy Transition: </B></FONT><FONT
 COLOR="#636466">Higher primarily due to higher production from higher availability and merchant sales volumes, partially offset by lower market prices compared to the prior year.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Energy Marketing: </B></FONT><FONT
 COLOR="#636466">Lower primarily due to lower realized settled trades during the year on market positions in comparison to prior year and higher OM&amp;A.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(74</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Corporate:
</B></FONT><FONT COLOR="#636466">Lower primarily due to increased spending to support strategic and growth initiatives and higher costs associated with the relocation of the Company&#8217;s head office.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP> for the year ended Dec. 31, 2023</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8194;1,632</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During 2024 our adjusted EBITDA composition was amended to exclude the impact of Brazeau
penalties and related provisions. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS and may not be
comparable to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. For a comparison of 2023 and 2022 earnings before income tax,
the most directly comparable IFRS measure, see pages <FONT STYLE="white-space:nowrap">M68-M69.</FONT> </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M13</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Free Cash Flow &#8212; 2024 versus 2023 </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31, 2024, the Company&#8217;s FCF decreased by $321&nbsp;million, or 36&nbsp;per cent, compared to 2023,
but was within the upper range of our expected full-year financial guidance. The major factors impacting FCF are summarized in the following table: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="88%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD ROWSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#171a5f"><B>Year&nbsp;ended</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">FCF for the year ended Dec. 31,
2023</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">890</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower Adjusted EBITDA due to the items noted
above.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(379</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher current income tax expense due to the full
utilization of Canadian <FONT STYLE="white-space:nowrap">non-capital</FONT> loss carryforwards in 2023, partially offset by lower earnings before income taxes in 2024 compared to the prior year.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(93</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher net interest expense<SUP
STYLE="font-size:75%; vertical-align:top">(1) </SUP>due to lower capitalized interest resulting from lower construction activity in 2024 compared to 2023 and lower interest income due to lower cash balances and interest rates in 2024 compared to
prior year.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(67</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower distributions paid to subsidiaries&#8217; <FONT
STYLE="white-space:nowrap">non-controlling</FONT> interests relating to lower TA Cogen net earnings resulting from lower merchant pricing in the Alberta market and the cessation of distributions to TransAlta Renewables
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interest. On Oct. 5, 2023, the Company acquired all of the outstanding common shares of TransAlta Renewables not already owned, directly or indirectly.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">183</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher provisions accrued in the current year
compared to the prior year resulting in higher FCF.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower sustaining capital expenditures due to the
receipt of a lease incentive related to the Company&#8217;s head office, and lower planned major maintenance at our Alberta and Western Australian gas facilities, partially offset by higher major maintenance at our Alberta Hydro
facilities.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">32</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other
<FONT STYLE="white-space:nowrap">non-cash</FONT> items<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(22</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>FCF<SUP
STYLE="font-size:75%; vertical-align:top">(4) </SUP>for the year ended Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;&#8199;569</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net interest expense includes interest expense less interest income and excludes <FONT
STYLE="white-space:nowrap">non-cash</FONT> items like financing amortization and accretion. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other <FONT STYLE="white-space:nowrap">non-cash</FONT> items consists of Alberta market pool
incentives, carbon obligation and contract liabilities. Refer to the Reconciliation of Cash Flow from Operations to FFO and FCF section tables in this MD&amp;A for more details. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other consists of higher realized foreign exchange loss, higher decommissioning and restoration
costs settled, higher dividends paid on preferred shares, lower principal payments on lease liabilities and lower productivity capital. Refer to the Reconciliation of Cash Flow from Operations to FFO and FCF section tables in this MD&amp;A for more
details. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">FCF is not defined and has no standardized meaning under IFRS and may not be comparable to
similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. For a comparison of 2024 and 2023 cash flow from operations, the most directly
comparable IFRS measure, see page M56. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M14</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Free Cash Flow &#8212; 2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31, 2023, the Company&#8217;s FCF decreased by $71&nbsp;million, or 7&nbsp;per cent, compared to 2022, and
was in line with our revised expected full-year financial guidance. The major factors impacting FCF are summarized in the following table: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="88%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD ROWSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#171a5f"><B>Year&nbsp;ended</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">FCF for the year ended Dec. 31,
2022</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">961</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower Adjusted EBITDA due to the items noted
above.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(24</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher interest income due to higher cash balances
and favourable interest rates.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower current income tax expense due to previously
restricted <FONT STYLE="white-space:nowrap">non-capital</FONT> loss carryforwards that were utilized to offset taxable income.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher sustaining capital expenditures due to
higher planned major maintenance costs for the Hydro and Gas segments, partially offset by lower planned major maintenance in the Wind and Solar and Energy Transition segments.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(32</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher distributions paid to subsidiaries&#8217; <FONT
STYLE="white-space:nowrap">non-controlling</FONT> interests related to the timing of distributions paid to TA Cogen, partially offset by lower distributions paid to TransAlta Renewables.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower provisions being accrued compared to the
prior year, with no notable settlements being recorded in either year.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other
<FONT STYLE="white-space:nowrap">non-cash</FONT> items<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>FCF<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP> for the year ended Dec. 31, 2023</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8194;&#8195;890</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other <FONT STYLE="white-space:nowrap">non-cash</FONT> items consists of Alberta market pool
incentives, carbon obligation, contract liabilities, the SunHills royalty onerous contract and Brazeau penalties. Refer to the Reconciliation of Cash Flow from Operations to FFO and FCF section tables in this MD&amp;A for more details.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other consists of higher realized foreign exchange loss, higher decommissioning and restoration
costs settled, higher dividends paid on preferred shares and higher principal payments on lease liabilities. Refer to the Reconciliation of Cash Flow from Operations to FFO and FCF section tables in this MD&amp;A for more details.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">FCF is not defined and has no standardized meaning under IFRS and may not be comparable to
similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. For a comparison of 2023 and 2022 cash flow from operations, the most directly
comparable IFRS measure, see page M57. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M15</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_4"></A>Capital Expenditures </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Sustaining Capital Expenditures </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We are in a <FONT STYLE="white-space:nowrap">long-cycle</FONT> business that requires
significant capital expenditures. Our goal is to undertake sustaining capital expenditures that ensure our facilities operate reliably and safely.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">&#8195;
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Company&#8217;s sustaining capital expenditures by segment are summarized in the table below: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023&#8195;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022&#8195;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>56</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind and Solar</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">76</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Energy Transition</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Corporate</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Sustaining capital expenditures</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>142</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">174</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">142</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total sustaining capital expenditures in 2024 were $32&nbsp;million lower compared to
2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The receipt of a lease incentive related to the Company&#8217;s head office, included in the
Corporate segment; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower planned major maintenance at our Alberta and Western Australian gas facilities; partially
offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher major maintenance at our Alberta hydro assets; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher major maintenance at our Wind and Solar facilities.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total sustaining capital expenditures in 2023 were $32&nbsp;million higher compared
to 2022, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher planned major maintenance at our Alberta Hydro assets; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher planned major maintenance at our Sarnia, Sundance Unit 6 and Keephills Units 2 and 3
facilities in the Gas segments; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower planned major maintenance in the Wind and Solar segment primarily due to a reduction in major
component replacements; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower planned outage work performed in the Energy Transition segment.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M16</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Growth and Development Expenditures </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Growth and development expenditures are impacted by the timing and construction of projects within the development pipeline. The
following table provides our growth and development spending by segment: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>Year ended Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>2024&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>2023&#8195;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>2022&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind and Solar</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">673</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">711</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">60</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Growth and development expenditures</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>132</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">739</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">774</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Growth and development expenditures were lower in 2024 compared to 2023 and 2022, as
many of the development projects achieved commercial operation in the first half of 2024. The White Rock East and Horizon Hill wind facilities were commissioned in the second quarter of 2024. The White Rock West wind facility and Mount Keith 132kV
expansion were commissioned in the first quarter of 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Refer to the Strategic Priorities section of this MD&amp;A for
more details. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2023 and 2022, the growth and development expenditures incurred primarily related
to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Garden Plain wind facility, which achieved commercial operation in August 2023;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Northern Goldfields solar facilities, which achieved commercial operation in November 2023;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The White Rock and the Horizon Hill wind projects; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Mount Keith 132kV expansion.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_5"></A>Significant and Subsequent Events </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Declared Increase in Common Share Dividend </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s Board of Directors has approved a $0.02 annualized increase to the common share dividend, or 8&nbsp;per cent
increase, and declared a dividend of $0.065 per common share to be payable on July&nbsp;1, 2025 to shareholders of record at the close of business on June&nbsp;1, 2025. The quarterly dividend of $0.065 per common share represents an annualized
dividend of $0.26 per common share. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>TransAlta Acquires Heartland Generation from Energy Capital Partners </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 4, 2024, the Company closed the acquisition of Heartland Generation Ltd. and certain affiliates (collectively, Heartland)
for a purchase price of $542&nbsp;million from an affiliate of Energy Capital Partners (ECP), the parent of Heartland (the Transaction). To meet the requirements of the federal Competition Bureau, the Company entered into a consent agreement with
the Commissioner of Competition pursuant to which TransAlta agreed to divest Heartland&#8217;s Poplar Hill and Rainbow Lake assets (the Planned Divestitures) following closing of the Transaction. In consideration of the Planned Divestitures,
TransAlta and ECP agreed to a reduction of $80&nbsp;million from the original purchase price for the Transaction. ECP will be entitled to receive the proceeds from the sale of Poplar Hill and Rainbow Lake, net of certain adjustments following
completion of the
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
Planned Divestitures. TransAlta also received a further $95&nbsp;million at closing of the Transaction to reflect the economic benefit of the Heartland business arising from Oct. 31, 2023 to the
closing date of the Transaction, pursuant to the terms of the share purchase agreement. The net cash payment for the Transaction, before working capital adjustments, totalled $215&nbsp;million, and was funded through a combination of cash on hand
and draws on TransAlta&#8217;s credit facilities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Excluding the Planned Divestitures, the Transaction adds 1,747 MW (net
interest) of complementary capacity from nine facilities, including contracted cogeneration and peaking generation, legacy <FONT STYLE="white-space:nowrap">gas-fired</FONT> thermal generation, and transmission capacity, all of which will be critical
to support reliability in the Alberta electricity market. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Mothballing of Sundance Unit 6 </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Nov. 4, 2024, the Company provided notice to the AESO that Sundance Unit 6 will be mothballed on April&nbsp;1, 2025, for a
period of up to two years depending on market conditions. TransAlta maintains the flexibility to return the mothballed unit to service when market fundamentals improve or opportunities to contract are secured. The unit remains available and fully
operational for the first quarter of 2025. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M17</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Appointment of New Chief Financial Officer (CFO) </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Board appointed Joel Hunter as Executive Vice President, Finance and CFO, effective July&nbsp;1, 2024. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Production Tax Credit (PTC) Sale Agreements </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Feb. 22, 2024, the Company entered into <FONT STYLE="white-space:nowrap">10-year</FONT> transfer agreements with an <FONT
STYLE="white-space:nowrap">AA-</FONT> rated customer for the sale of approximately 80&nbsp;per cent of the expected PTCs to be generated from the White Rock and the Horizon Hill wind facilities. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On June&nbsp;21, 2024, the Company entered into an additional <FONT STYLE="white-space:nowrap">10-year</FONT> transfer agreement
with an A+ rated customer for the sale of the remaining 20&nbsp;per cent of the expected PTCs. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The expected average
annual EBITDA from the two agreements is approximately $78&nbsp;million (US$57 million). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Normal Course Issuer Bid (NCIB)
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta remains committed to enhancing shareholder returns through appropriate capital allocation such as share
buybacks and its quarterly dividend. In the first quarter of 2024, the Company announced an enhanced common share repurchase program for 2024, allocating up to $150&nbsp;million, and targeting up to 42&nbsp;per cent of 2024 FCF guidance, to be
returned to shareholders in the form of share repurchases and dividends. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;27, 2024, the Company announced
that it had received approval from the Toronto Stock Exchange to purchase up to 14&nbsp;million common shares during the <FONT STYLE="white-space:nowrap">12-</FONT> month period that commenced May&nbsp;31, 2024, and terminates May&nbsp;31, 2025. Any
common shares purchased under the NCIB will be cancelled. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the year ended Dec. 31, 2024, the Company purchased and
cancelled a total of 13,467,400 common shares, at an average price of $10.59 per common share, for a total cost of $143&nbsp;million, including taxes.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Horizon Hill Wind Facility Achieves Commercial Operation </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;21, 2024, the 202 MW Horizon Hill wind facility achieved commercial operation. The facility is located in Logan County,
Oklahoma and is fully contracted to Meta Platforms Inc. for the offtake of 100&nbsp;per cent of the generation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>White Rock Wind
Facilities Achieve Commercial Operation </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Jan. 1, 2024, the 100 MW White Rock West wind facility achieved
commercial operation. On April&nbsp;22, 2024, the 202 MW White Rock East wind facility also completed commissioning. The facilities are located in Caddo County, Oklahoma and are contracted under two long-term power purchase agreements (PPAs) with
Amazon Energy LLC for the offtake of 100&nbsp;per cent of the generation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Mount Keith 132kV Expansion Complete </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Mount Keith 132kV expansion project was completed during the first quarter of 2024. The expansion was developed under the
existing PPA with BHP Nickel West (BHP), which extends until Dec. 31, 2038. The expansion will facilitate the connection of additional generating capacity to the transmission network which supports BHP&#8217;s operations.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M18</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_6"></A>Segmented Financial Performance and Operating
Results </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Segmented information is prepared on the same basis that the Company manages its business, evaluates
financial results and makes key operating decisions. The following table reflects the summary financial information on a consolidated basis for the year ended Dec. 31: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="74%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hydro</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>316</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">459</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">549</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind and Solar</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>316</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">257</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">311</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gas</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>535</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">801</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">629</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Energy Transition</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>91</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">122</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">86</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Energy Marketing</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>131</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">109</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">183</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Corporate</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(136</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(116</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,253</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,632</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,656</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Earnings before
income taxes</B></FONT></P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">880</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">This item is not defined and has no standardized meaning under IFRS and may not be comparable to
similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During 2024 our adjusted EBITDA composition was amended to exclude the impact of Brazeau
penalties and related provisions. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Earnings before income taxes for the year ended Dec. 31, 2024, decreased by
$561&nbsp;million, or 64&nbsp;per cent, compared to 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The factors causing lower adjusted EBITDA above; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher asset impairment charges related to an increase in the decommissioning provision on retired
assets, driven by a decrease in discount rates and revisions in estimated decommissioning costs, and higher impairment charges related to development projects that are no longer proceeding; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains and lower realized gains on closed exchange positions in the Energy Marketing segment mainly driven by market volatility across North American power
and natural gas markets; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses recorded in the Wind and Solar segment primarily related to the long-term wind energy sales related to the Oklahoma facilities;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher interest expense due to lower capitalized interest during 2024 resulting from lower
construction activity in 2024 compared to 2023; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower capacity payments in 2024 for Southern Cross Energy in Western Australia due to the scheduled
conclusion on Dec. 31, 2023, of the demand capacity charge under the customer contract, partially offset by the commencement in March 2024 of capacity payments for the Mount Keith 132kV expansion;
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Heartland acquisition-related transaction and restructuring costs; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower interest income due to lower cash balances and lower interest rates during 2024;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spending relating to planning and design work on a planned upgrade to our ERP system; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Penalties assessed by the Alberta Market Surveillance Administrator for self-reported
contraventions pertaining to Hydro ancillary services provided during 2021 and 2022; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower depreciation and amortization compared to 2023 related to revisions of useful lives of
certain facilities in prior and current periods, partially offset by the commercial operation of new facilities during the year and the return to service of the Kent Hills wind facilities; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains recorded in the Energy Transition segment primarily related to the favourable changes in forward prices; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher net other operating income mainly due to Sundance A decommissioning cost reimbursement.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Earnings before income taxes for the year ended Dec. 31, 2023, increased by $527&nbsp;million, or 149&nbsp;per cent, compared to
2022, primarily due to: </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M19</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains in in the Gas segment primarily related to higher power price hedges; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains in the Wind and Solar segment primarily related to Garden Plain and Big Level, partially offset by unrealized <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses related to the Oklahoma facilities; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher realized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses on closed exchange positions in the Energy Marketing segment mainly driven by market volatility across the North American power and natural gas
markets; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher asset impairment reversals for the Hydro and Wind and Solar segments due to favourable
changes in power price assumptions and contract extensions, partially offset by a change in decommissioning and restoration provisions
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left" COLOR="#636466">&nbsp;</TD>
<TD WIDTH="1">&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">
for retired assets due to a change in the timing of expected cash outflows and the revisions in discount rates; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher interest income due to higher cash balances and favourable interest rates; partially offset
by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower adjusted EBITDA (as described above); </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower gain on sale of assets in 2023. In 2022 the Company closed the sale of two hydro facilities
and sold equipment related to its Energy Transition segment; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher depreciation and amortization due to revisions to useful lives of certain facilities and
commercial operation of new facilities. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M20</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>&#8194;Hydro </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="56%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022<SUP STYLE="font-size:75%; vertical-align:top">(7)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Gross installed capacity (MW)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>922</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>922</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">922</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>LTA generation (GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,015</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,015</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2,015</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Availability (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>90.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>90.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I></I>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(0.1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)</I>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">96.7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(5.9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(6)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Production</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contract production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>281</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>277</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>4</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">323</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(46</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(14)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Merchant production
(GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,442</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,492</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(50</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(3)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,665</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(173</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(10)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total energy production (GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,723</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,769</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(46</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(3)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,988</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(219</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(11)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Ancillary service
volumes (GWh)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,951</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,582</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>369</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>14&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,124</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(542</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(17)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alberta Hydro Assets revenues<SUP
STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>144</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>291</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(147</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(51)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">328</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(37</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(11)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other Hydro Assets and other revenues<SUP
STYLE="font-size:75%; vertical-align:top">(2)(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>49</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(4)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>21&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alberta Hydro ancillary services
revenues</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>136</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>173</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(37</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(21)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">256</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(83</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(32)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Environmental and tax
attributes revenues</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>61</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>47</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>336&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>13</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>1300%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted revenues<SUP
STYLE="font-size:75%; vertical-align:top">(5)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>390</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>529</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(139</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(26)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">627</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(98</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(16)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased
power</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(16)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(14)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted gross
margin<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>374</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>510</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466"><I>(136</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466"><I>(27)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">605</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466"><I>(95</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466"><I>(16)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted OM&amp;A<SUP
STYLE="font-size:75%; vertical-align:top">(5)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>7</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>15&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(9)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than
income taxes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(6)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>316</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>459</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(143</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(31)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">549</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(90</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(16)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Supplemental Information:</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Gross revenues per MWh</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alberta Hydro Assets energy ($/MWh)<SUP
STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>100</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>195</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(95</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(49)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">197</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(2)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alberta Hydro Assets
ancillary ($/MWh)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>46</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>67</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(21</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(31)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">76</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(9)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(12)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Ancillary services as described in the AESO Consolidated Authoritative Document Glossary.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Alberta Hydro Assets include 13 hydro facilities on the Bow and North Saskatchewan river systems.
Other Hydro Assets include our hydro facilities in British Columbia, Ontario and Alberta (other than the Alberta Hydro Assets). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Alberta Hydro Assets revenues include revenues from swaps and forward hedges.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other revenues includes revenues from our transmission business and other contractual
arrangements, including the flood mitigation agreement with the Government of Alberta and black start services. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">For details of the adjustments to revenues and OM&amp;A included in adjusted EBITDA refer to the
Additional IFRS and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(6)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA and adjusted gross margin are not defined and have no standardized meaning under
IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional IFRS and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(7)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During 2024 our adjusted EBITDA composition was amended to exclude the impact of Brazeau
penalties and related provisions. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M21</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the year ended Dec. 31, 2024, decreased compared to 2023, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower spot power prices and ancillary services prices in the Alberta market; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Realized premiums above spot power prices and positive contributions from hedging;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher environmental and tax attributes revenues due to increased sales of emission credits to
third parties and intercompany sales to the Gas segment; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher ancillary services volumes due to increased demand by the AESO.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31, 2024, decreased compared to 2023, primarily due to lower
adjusted revenues as explained by the factors above. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For further discussion on the Alberta market conditions and
pricing, refer to the Alberta Electricity Portfolio section of this MD&amp;A.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the year ended Dec. 31, 2023, decreased compared to 2022, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower ancillary services volumes due to the AESO procuring lower volumes given its decision to
reduce the cumulative volume of imports into Alberta; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower spot power prices and ancillary services prices in the Alberta market; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower production due to lower availability from planned outages at our Alberta Hydro Assets and
lower than average water resources; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Realized gains from our hedging strategy for the Alberta Hydro Assets; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Sales of environmental attributes driven by an increase in emission credit sales.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31, 2023, decreased compared to 2022, primarily due to lower
adjusted revenues as explained by the factors above. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M22</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>&#8201;Wind and Solar </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="58%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Gross installed capacity (MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,587</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,084</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>503</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>24&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,906</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>178</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>9&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;LTA generation (GWh)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,876</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,127</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1,749</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>34&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4,950</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>177</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>4&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Availability (%)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>93.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>86.9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>6.5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>7&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">83.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>3.1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>4&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Production</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Contract production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,720</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,095</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1,625</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>53&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,182</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(87</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(3)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8199;Merchant production
(GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,229</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,148</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>81</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>7&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,066</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>82</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>8&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Total production (GWh)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,949</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,243</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>1,706</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>40&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4,248</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Revenues</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>372</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>347</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>25</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>7&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">357</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(10</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(3)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Environmental and tax attributes revenues</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>77</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>51</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>196&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(24</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(48)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted revenues<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>449</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>373</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>76</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>20&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">407</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(34</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(8)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Fuel and purchased power</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(3)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Carbon compliance</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(100)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted gross margin<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>419</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>343</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>76</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>22&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">375</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(32</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(9)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Adjusted OM&amp;A<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>17</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>21&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>12</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>18&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Taxes, other than income taxes</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>4</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>33&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Net other operating income</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(4</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>67&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>10</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(63)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>316</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>257</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>59</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>23&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">311</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(54</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(17)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gross installed capacity and availability for 2024 include the 100 MW White Rock West and 202 MW
White Rock East wind facilities that achieved commercial operation in January and April 2024, respectively, and the 202 MW Horizon Hill wind facility that achieved commercial operation in May 2024.Tower removal at Sinott in 2025, reduced gross
installed capacity by 1 MW. Gross installed capacity and availability for 2024 and 2023 include the 130 MW Garden Plain wind facility that achieved commercial operation in August 2023 and the 48 MW Northern Goldfields solar facilities that achieved
commercial operation in November 2023. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">For details of the adjustments to revenues and OM&amp;A included in adjusted EBITDA, refer to the
Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA and adjusted gross margin are not defined and have no standardized meaning under
IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional IFRS and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M23</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the year ended Dec. 31, 2024, increased compared to 2023, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher environmental and tax attributes revenues from the sale of production tax credits from
Horizon Hill and White Rock West and East wind facilities to taxable US counterparties; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production from the return to service of the Kent Hills wind facilities; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Commercial operation of the Horizon Hill and White Rock West and East wind facilities; partially
offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower realized power prices in the Alberta market. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31, 2024, increased compared to the same period in 2023, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher adjusted revenues as explained by the factors above; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher OM&amp;A mainly due to the addition of new wind facilities.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the year ended Dec. 31, 2023, decreased compared to 2022, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower environmental attribute revenues driven by a reduction of offsets and emission credit sales;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower realized power prices in Alberta; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Weaker than long-term average wind resource across the operating fleets; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Commercial operation of the Garden Plain wind facility and the Northern Goldfield Solar facilities
in the third and fourth quarter, respectively; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The partial return to service of the Kent Hills wind facilities. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31, 2023, decreased compared to the same period in 2022, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower adjusted revenues as explained by the factors above; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher OM&amp;A related to salary escalations, higher insurance costs and long-term service
agreement escalations; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower liquidated damages recognized at the Windrise wind facility.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M24</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Gas </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="52%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Year ended Dec.
31</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" COLSPAN="5" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" COLSPAN="5" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&#8195;Change&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#171a5f"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Gross installed capacity (MW)<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,834</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,084</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1,750</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>57&#8201;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,084</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Availability (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>92.2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>91.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>0.6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1&#8201;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">94.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(3.0</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(3)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Production</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contract sales volume (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,874</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,322</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>2,552</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>59&#8201;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,806</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>516</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>14&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Merchant sales volume (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,576</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7,889</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1,313</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(17</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7,927</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(38</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Purchased power (GWh)<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1,133</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(338</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(795</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>235&#8201;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(285</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(53</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>19&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total production
(GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12,317</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11,873</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>444</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>4&#8201;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11,448</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>425</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>4&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted revenues<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,321</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,525</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(204</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(13</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,521</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>4</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted fuel and purchased power<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>470</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>449</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>21</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>5&#8201;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">637</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(188</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(30)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Carbon
compliance</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>145</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>112</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>33</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>29&#8201;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>29</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>35&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted gross
margin<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>706</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>964</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(258</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(27</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">801</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>163</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>20&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>198</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>192</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>3&#8201;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">195</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(2)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>18&#8201;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(4</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(27)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net other operating
income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8201;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>5&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>535</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>801</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(266</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(33</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>)%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">629</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>172</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>27&#8201;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gross installed capacity and availability for 2024 include the 1,747 MW Heartland gas facilities
and exclude the Planned Divestitures. Refer to the Significant and Subsequent events section. Gross installed capacity for Keephills Unit 3 was adjusted by 3 MW during 2024 due to reduced equipment load. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Power required to fulfil contractual obligations during planned and unplanned outages is included
in purchased power. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">For details of the adjustments to revenues and fuel and purchased power included in adjusted
EBITDA, refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-</FONT> IFRS Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA and adjusted gross margin are not defined and have no standardized meaning under
IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Gas fleet performance was broadly in line with management&#8217;s expectations
for the segment. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the year ended Dec. 31, 2024, decreased compared to 2023, primarily due to:
</FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower power prices in the Alberta market; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increased dispatch optimization from Alberta Gas facilities driven by lower power prices; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower capacity payments in 2024 for Southern Cross Energy in Western Australia due to the scheduled
conclusion on Dec. 31, 2023, of the demand capacity charge under the customer contract, partially offset by the commencement in March 2024 of capacity payments for the Mount Keith 132kV expansion; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher volume of favourable hedging positions settled, which generated positive contributions over
settled spot prices in Alberta.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31, 2024, decreased compared to 2023,
primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower adjusted revenues explained above; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price from $65 to $80 per tonne, impacting gross margin from our Canadian
gas facilities; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher carbon costs and fuel usage related to production; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The utilization of emission credits to settle a portion of our 2023 GHG obligation; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower natural gas prices.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M25</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the year ended Dec. 31, 2023, increased compared to 2022, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production due to the fleet being available during periods of supply tightness and peak
pricing; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher power price hedges, partially offsetting the impact of lower Alberta spot prices; partially
offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower thermal revenues due to lower steam revenue pricing at the Sarnia facility compared to 2022.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31, 2023, increased compared to 2022, primarily due to:
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower natural gas commodity costs for the Alberta Gas facilities; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher adjusted revenues explained above; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher carbon costs and fuel usage related to production with the utilization of emission credits
to settle a portion of the GHG obligation in 2022; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Carbon price increases from $50 per tonne to $65 per tonne, impacting our Canadian gas facilities.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M26</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Energy Transition </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="55%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Gross installed capacity
(MW)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">671</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Availability (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>79.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>0.2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">77.2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>2.6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>3&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Production</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contract sales volume (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,338</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,329</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,329</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Merchant sales volume (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,201</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,417</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1,216</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(28)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,951</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>466</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>12&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Purchased power (GWh)<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3,717</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3,602</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(115</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>3&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3,706</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>104</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(3)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Total production
(GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,822</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,144</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(1,322</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(32)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,574</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>570</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>16&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13"></TD>
<TD HEIGHT="13" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="13" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD>
<TD HEIGHT="13" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Adjusted revenues<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>582</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>746</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(164</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(22)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">724</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>22</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>3&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>418</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>557</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(139</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(25)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">566</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(2)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Carbon
compliance</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(100)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Adjusted gross
margin<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>163</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>189</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(26</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(14)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">159</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>30</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>19&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>69</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>8&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(7)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Taxes, other
than income taxes</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(25)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>91</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>122</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(31</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(25)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">86</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>36</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>42&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Supplemental information:</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Highvale mine reclamation spend</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(4</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(27)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>25&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Centralia mine
reclamation spend</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>23&#8199;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(19)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">All of the power produced by Centralia is sold by the Energy Marketing segment for physical market
delivery, which is shown as merchant sales volumes. Power required to fulfil contractual obligations is included in purchased power. Total production from the facility includes the net result of merchant sales volumes and purchased power.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">For details of the adjustments to revenues included in adjusted EBITDA, refer to the Additional IFRS
Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Adjusted EBITDA and adjusted adjusted gross margin are not defined and have no standardized meaning
under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the year ended Dec. 31, 2024, decreased compared to 2023, primarily due to increased economic dispatch driven
by lower market prices which negatively impacted merchant production. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31, 2024,
decreased compared to 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower revenues as explained by the factors above; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower fuel and purchased power costs due to lower <FONT STYLE="white-space:nowrap">Mid-</FONT>
Columbia prices on purchases of power and lower production volumes. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Mine reclamation spending for the
year ended Dec. 31, 2024, was consistent with 2023.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the year ended Dec. 31, 2023, increased compared to 2022, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production from higher availability due to lower planned and unplanned outages at Centralia
Unit 2; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Less economic dispatch leading to higher merchant sales volumes; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower market prices. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31, 2023, increased compared to 2022, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher revenues as explained by the factors above; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower purchased power costs due to lower pricing and increased volumes of production; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower OM&amp;A expenses due to the retirement of Sundance Unit 4 in the first quarter of 2022.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Mine reclamation spending for the year ended Dec. 31, 2023, was consistent with 2022.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M27</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Energy Marketing </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="53%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Adjusted revenues<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>167</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>152</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>15</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>10&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">218</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(66</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(30)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>43</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(7</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(16)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>8</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>23&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>131</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>109</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>22</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>20&#8196;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">183</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(74</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(40)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">For details of the adjustments to revenues included in adjusted EBITDA, refer to the Additional IFRS
Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues and Adjusted EBITDA for the year ended Dec. 31, 2024, increased compared to 2023, primarily due to favourable
market volatility across North American power and natural gas markets and higher realized settled trades in 2024 in compared to the prior year, primarily due to: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Company was able to capitalize on volatility in the trading of both physical and financial
power and gas products across North American deregulated markets while maintaining the overall risk profile of the business unit; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">A decrease in OM&amp;A mainly due to lower incentives related to revenue before adjustments
compared to the prior year. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues and Adjusted EBITDA for the year ended Dec. 31, 2023, decreased compared to 2022. This was in line with
management&#8217;s expectations, but lower year-over-year, primarily due to: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower realized settled trades during the year on market positions in comparison to the prior year;
and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in OM&amp;A mainly due to higher incentives related to revenues before adjustments.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Corporate </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="56%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Adjusted OM&amp;A<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>135</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>115</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>20</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>17</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">101</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>14</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>14</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Taxes, other
than income taxes</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(136</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(116</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(20</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>17</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(14</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>14</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>%&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">For details of the adjustments to OM&amp;A included in adjusted EBITDA, refer to the Additional IFRS
Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31, 2024, decreased compared to 2023, primarily due to increased spending to support
strategic and growth initiatives related to early stage growth projects.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the year ended Dec. 31, 2023, decreased compared to 2022, primarily due to: </FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increased spending to support strategic and growth initiatives; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher costs associated with the relocation of the Company&#8217;s head office; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increased costs due to inflationary pressures.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M28</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_7"></A>Performance by Segment with Supplemental
</B></FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Geographical Information </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides adjusted EBITDA by segment across the regions we operate in: </FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="44%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">307</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">340</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(136</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">683</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Canada, excluding Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">122</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">91</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">222</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;U.S.</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">135</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">101</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">248</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Western Australia</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">92</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>316</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>316</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>535</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>91</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>131</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(136</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,253</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Earnings before income taxes</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Year ended Dec. 31, 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">451</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">77</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">571</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">109</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(116</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,082</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Canada, excluding Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">95</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">89</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">192</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;U.S.</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">132</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">226</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Western Australia</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">132</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">459</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">257</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">801</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">122</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">109</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(116</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,632</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Earnings before income taxes</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">880</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_8"></A>Optimization of the Alberta Portfolio </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our merchant exposure is primarily in Alberta, where 58&nbsp;per cent of our capacity
is located, 77&nbsp;per cent of which is available to participate in the merchant market. Our portfolio of assets consists of hydro, wind, battery storage and natural gas generation facilities. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The acquisition of Heartland enhances and further diversifies TransAlta&#8217;s competitive portfolio in the highly dynamic and
shifting electricity landscape in Alberta, by adding 507 MW of contracted cogeneration capacity, 387 MW of contracted and merchant peaking generation capacity, 950 MW of natural <FONT STYLE="white-space:nowrap">gas-fired</FONT> thermal generation
capacity, transmission capacity and a development pipeline. The fast-ramping nature of certain Heartland facilities is ideally positioned to respond to expected price volatility and deliver peaking capacity in periods of higher demand in the Alberta
market. Refer to the Significant and Subsequent events section. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Generating capacity in Alberta is subject to market
forces. Power from commercial generation is cleared through a wholesale electricity market. Power is dispatched in accordance with an economic merit order administered by the Alberta Electric System Operator (AESO), based upon offers by generators
to sell power in the real-time
energy-</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
only market. Our merchant Alberta fleet operates under this framework and we internally manage our offers to sell power. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Optimization of portfolio performance in the Alberta merchant market is driven by the diversity of fuel types, which enables
portfolio management. It also provides us with capacity that can be monetized as either energy production or ancillary services. A significant portion of the generation capacity in the portfolio has been hedged to provide greater cash flow
certainty. The Company&#8217;s hedging strategy includes maintaining a significant base of Commercial and Industrial (C&amp;I) customers and is supplemented with financial hedges. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During periods of low market prices, the Company may choose not to generate power from the thermal fleet and monetize its hedged or
contract positions. This results in a change in revenue not correlating with a change in production. During 2024, there were periods of low market prices, and the Company opted not to generate production from the thermal fleet, and as a result, the
thermal generation sold through C&amp;I contracts and financial hedges exceeded the actual merchant production generated.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M29</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Alberta hydro fleet provides ancillary services and grid reliability products
such as black start services, in the event of a system-wide blackout in the province, and drought mitigation, by systematically regulating river flows. </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Alberta wind and hydro fleets provide a steady stream of environmental credits
that the Company sells to third parties and intercompany to the Gas segment. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table provides information for the Company&#8217;s Alberta electricity portfolio: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="33%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="9" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="9" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="9" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec.<BR>31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Gross installed capacity
(MW)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>834</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>764</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>3,650</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>5,248</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">834</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">766</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">1,960</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">3,560</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">834</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">636</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">1,960</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">3,430</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total production<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP>
(GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>1,443</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>1,981</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>8,385</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>11,809</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,492</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,907</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">8,360</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">11,759</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,665</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,686</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">8,106</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">19</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">11,476</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Contract production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>928</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>2,566</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>3,494</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">774</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">861</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,635</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">620</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">526</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,146</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Merchant production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>1,443</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>1,053</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>5,819</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>8,315</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,492</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,133</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">7,499</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">10,124</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,665</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,066</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">7,580</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">19</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">10,330</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Purchased power (GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>(918)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>(918)</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">(150)</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">(150)</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">(197)</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">(197)</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Hedged production (GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>558</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>136</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>8,386</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>9,080</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">378</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">221</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">7,173</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">7,550</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">7,228</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">7,228</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Production contracted or hedged (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>39%</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>54%</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>131%</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;%</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>106%</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">25%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">41%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">96%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">78%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">37%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">96%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;%</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">73%</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Hedged production as a percentage of gross
installed capacity (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>8%</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>2%</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>26%</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;%</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>20%</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">5%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">3%</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">42%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">24%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">42%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">24%</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Revenues<SUP STYLE="font-size:75%; vertical-align:top">(2)(3)(5)</SUP>
($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>370</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>105</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>887</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>1,367</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">509</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">130</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,083</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">5</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,727</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">602</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">155</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">989</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">6</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,752</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Fuel ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>297</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>315</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">8</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">17</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">307</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">332</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">10</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">17</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">419</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">5</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">451</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Purchased power ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>60</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>70</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">9</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">3</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">29</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">41</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">8</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">4</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">23</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">35</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Carbon compliance<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP> ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>125</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>126</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">106</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">106</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">1</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">70</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">(1)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">70</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Gross margin<SUP
STYLE="font-size:75%; vertical-align:top">(5)</SUP> ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>357</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>91</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>405</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>856</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">492</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">110</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">641</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">5</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">1,248</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">584</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">133</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">477</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">2</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">1,196</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total production includes contract and merchant production. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Revenues have been adjusted to exclude the impact of unrealized <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains or losses and to include realized gains and losses on closed exchange positions. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The intercompany sales of emission credits from the Hydro segment to the Gas segment are
eliminated on consolidation in the Corporate segment. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gross installed capacity for Alberta facilities in 2024 includes 1,687 MW from the acquisition of
Heartland and excludes production from Planned Divestitures. Refer to the Significant and Subsequent events section. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During 2024 our adjusted EBITDA composition was amended to exclude the impact of Brazeau
penalties and related provisions. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total production for the Alberta portfolio for the year ended Dec. 31, 2024, was 11,809 GWh, compared to 11,759 GWh in 2023. The
increase of 50 GWh, or 0.4&nbsp;per cent, was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production in the Gas segment due to the addition of gas facilities from the acquisition of
Heartland; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">A full-year of production from the addition of the Garden Plain wind facility, which was
commissioned in August 2023; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher dispatch optimization in the Gas segment; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower production from the Alberta Hydro Assets due to lower water resources compared to the prior
year. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Hedged production for the year ended Dec. 31, 2024, increased compared to 2023. In anticipation
of the risk of lower prices in 2024, the Company deployed a defensive strategy to increase financial hedges for the merchant portfolio at attractive margins. Realized gains and losses on financial hedges are included in revenues in the table above.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Gross margin for the Alberta portfolio for the year ended Dec.&nbsp;31, 2024, was $856&nbsp;million, compared to
$1,248&nbsp;million in 2023. The decrease of $392&nbsp;million, or 31&nbsp;per cent, was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The impact of lower Alberta spot power prices and lower hydro ancillary services prices;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increased dispatch optimization in the Gas segment driven by lower power prices;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price per tonne from $65 in 2023 to $80 in 2024; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher gains realized on financial hedges settled in the period; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher environmental and tax attributes revenues due to the increased sales of emission credits to
third parties and intercompany sales from the Hydro segment to the Gas segment; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The utilization of emission credits in the Gas segment in 2024 to settle a portion of our 2023 GHG
obligation; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher hydro ancillary services volumes due to increased demand by the AESO; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower natural gas prices.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total production for the year ended Dec. 31, 2023, was 11,759 GWh, compared to 11,476 GWh in 2022. The increase of 283 GWh, or two
per cent, was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The commercial operation of the Garden Plain wind facility in the third quarter of 2023;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production from our Gas facilities due to strong market conditions in the first half of
2023; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower water resources in the Alberta Hydro Assets. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Hedged production for the year ended Dec. 31, 2023, increased compared to 2022, primarily due to the opportunity to secure
additional margins with strategic hedges for the hydro assets. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Gross margin for the Alberta portfolio for the year ended
Dec.&nbsp;31, 2023, was $1,248&nbsp;million, compared to $1,196&nbsp;million in 2022. The increase of $52&nbsp;million, or four per cent, was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher power price hedges, partially offsetting the impacts of lower Alberta spot prices; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower natural gas prices compared to 2022; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower ancillary services revenues due to the AESO procuring lower volumes given its decision to
reduce the cumulative volume of imports into Alberta. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M31</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides information for the
Company&#8217;s Alberta electricity portfolio: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8.5pt" ALIGN="center">


<TR>

<TD WIDTH="68%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Alberta Market</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Spot power price average per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>63</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">134</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">162</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Natural gas price (AECO) per GJ</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.29</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2.54</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5.08</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance price per tonne</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">65</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Alberta Portfolio Results</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Realized merchant power price per
MWh<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>109</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">136</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">126</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.70em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Hydro energy spot power price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>91</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">175</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">197</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.70em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Hydro ancillary services price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>46</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">67</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">76</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.70em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Wind energy spot power price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">73</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">90</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.70em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Gas spot power price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>86</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">162</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">194</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Hedged power price average per
MWh<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>84</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">111</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">86</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Hedged volume (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;9,080</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;7,550</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;7,228</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Fuel cost per
MWh<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">56</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance
cost per MWh<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Realized merchant power price for the Alberta electricity portfolio is the average price realized
as a result of the Company&#8217;s merchant power sales and portfolio optimization activities (excluding assets under long-term contract and ancillary revenues) divided by total merchant GWh produced. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Hedged power price average per MWh is calculated as the average sales price for all hedges and
direct customer sales during the reporting period. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Fuel cost per MWh is calculated on production from carbon-emitting generation in the Gas and
Energy Transition segments. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Carbon compliance cost per MWh is calculated on production from carbon-emitting generation, as
well as power purchased, in the Gas and Energy Transition segments. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 versus 2023 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The average spot power price per MWh for the Alberta portfolio for the year ended Dec. 31, 2024 decreased from $134 per MWh in 2023
to $63 per MWh in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher generation from the addition of increased supply of new renewables and combined-cycle gas
facilities into the market compared to the prior period; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower natural gas prices. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The realized merchant power price per MWh of production for the Alberta portfolio for the year ended Dec.&nbsp;31, 2024, decreased
by $27 per MWh, compared to 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower average spot power prices as explained above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower hedge prices compared to the prior year. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fuel cost per MWh for the year ended Dec. 31, 2024, decreased by $2&nbsp;per MWh, compared to 2023, primarily due to lower natural
gas prices. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Carbon compliance cost per MWh of production for the year ended Dec. 31, 2024, increased by $2 per MWh,
compared to 2023, primarily due to: </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The increase in carbon pricing from $65 per tonne in 2023 to $80 per tonne in 2024; partially
offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The utilization of emission credits to settle a portion of the 2023 GHG obligation during the year.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 versus 2022 </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The average spot power price per MWh for the year ended Dec. 31, 2023 decreased from $162 per MWh in 2022 to $134 per MWh in 2023,
primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Moderate temperatures in the last six months of the year compared with the prior year;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher total renewable generation in the Alberta market from new Wind and Solar facilities and
higher wind resources during the fourth quarter of 2023; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower natural gas prices. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Realized merchant power price per MWh of production for the Alberta portfolio for the year ended Dec. 31, 2023, increased by $10 per
MWh, compared to 2022, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Optimization of our available capacity across all fuel types; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher hedge prices compared to the prior year.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M32</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fuel cost per MWh for the Alberta portfolio for the year ended Dec. 31, 2023,
decreased by $16 per MWh, compared to 2022, primarily due to lower natural gas prices. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Carbon compliance cost per MWh of
production for the Alberta portfolio for the year ended Dec. 31, 2023, increased by $4 per MWh, compared to 2022 primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The increase in carbon pricing from $50 per tonne in 2022 to $65 per tonne in 2023; and
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No utilization of emission credits to settle the GHG obligation during the year. In 2022 the
Company used emission credits to settle a portion of the carbon compliance obligation resulting in a lower carbon cost per MWh.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M33</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_9"></A>Fourth Quarter Highlights </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the quarter ended Dec. 31, 2024, the Company&#8217;s performance was impacted by
lower power prices in the Alberta and <FONT STYLE="white-space:nowrap">Mid-Columbia</FONT> markets. The results were in line with management&#8217;s expectations due to active management of the Company&#8217;s merchant portfolio and hedging
strategies. During the fourth quarter of 2024, the Company settled a higher volume of hedges that were significantly above
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
average spot prices. The acquisition of Heartland on Dec. 4, 2024 positively contributed to the production in the Gas segment and further diversifies TransAlta&#8217;s competitive portfolio in
the highly dynamic and shifting electricity landscape in Alberta by adding 1,747 MW to gross installed capacity. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Consolidated Financial
Highlights </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8.5pt" ALIGN="center">


<TR>

<TD WIDTH="78%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Three months ended Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Operational information</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Availability (%)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>87.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">86.9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;6,199</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;5,783</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Select financial information</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>678</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">624</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>285</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">289</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Loss before income taxes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Net loss attributable to common shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(65</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(84</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flows</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Cash flow from operating activities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>215</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">310</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Funds from
operations<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>137</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">229</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Free cash
flow<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">121</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Per share</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Weighted average number of common shares outstanding</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>298</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">308</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="6"></TD>
<TD HEIGHT="6" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="6" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-1.00em; font-size:8.5pt; font-family:arial"><FONT COLOR="#636466">Free cash flow per
share<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These items are not defined and have no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. Refer to the Segmented Financial Performance and Operating Results section of this MD&amp;A for further discussion of these items, including, where applicable, reconciliations to measures calculated in
accordance with IFRS. Also, refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">FFO per share and FCF per share are calculated using the weighted average number of common shares
outstanding during the period. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A for the purpose of these <FONT STYLE="white-space:nowrap">non-IFRS</FONT> ratios.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M34</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Operating Performance </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Availability </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides availability (%) by segment: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="81%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Three months ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>85.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">76.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind and Solar</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>92.2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">90.3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Gas<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>84.1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">89.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Energy Transition</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>91.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">79.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Availability (%)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>87.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">86.9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Availability for 2024 includes the facilities acquired from Heartland and excludes the Planned
Divestitures. Refer to the Significant and Subsequent events section. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Availability for the three months ended Dec. 31, 2024, was 87.8&nbsp;per cent
compared to 86.9&nbsp;per cent for the same period in 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The addition of the White Rock and Horizon Hill wind facilities which operated with high
availability; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The return to service of the Kent Hills wind facilities; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher availability in the Hydro segment due to lower planned outages;
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher availability in the Energy Transition segment due to lower unplanned outages; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Positive contribution from the addition of the gas facilities acquired with Heartland; partially
offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower availability for the Gas segment due to planned outages at Sarnia, Sheerness and Keephills.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Production and Long-Term
Average Generation </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="31%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Three&nbsp;months&nbsp;ended&nbsp;Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Actual</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>production</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>(GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>LTA&nbsp;generation</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>(GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Production&nbsp;as&nbsp;a</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>% of LTA</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Actual</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>production</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>(GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>LTA&nbsp;generation</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>(GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Production&nbsp;as&nbsp;a</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>% of LTA</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>452</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>447</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8194;101</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&#8201;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">326</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">447</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">73%&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind and Solar</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,831</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,175</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>84</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8201;%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,479</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,361</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">109&#8201;%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Gas<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,875</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,892</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Energy Transition</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,041</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,086</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,199</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5,783</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gas production for 2024 includes 511 GWh from Heartland, excluding production from the Planned
Divestitures. Refer to the Significant and Subsequent events section. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Production for the three months ended Dec. 31, 2024, was 6,199 GWh compared to 5,783
GWh for the same period in 2023. The increase was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production in the Wind and Solar segment due to the addition of the Horizon Hill and the
White Rock West and East wind facilities during 2024; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production in the Hydro segment compared to the same period in 2023 due to water
conservation in the fourth quarter of 2023 that resulted in lower production volumes compared to the current period; partially offset by
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower production in the Energy Transition segment due to higher dispatch optimization, which
negatively affected merchant production; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower production in the Gas segment driven by lower availability at the Sarnia facility due to
planned outages, higher economic dispatch in Alberta and lower production from Western Australia due to lower demand, partially offset by positive contribution from the Heartland gas facilities.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M35</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#40ac48"><B>&#8199;Financial Performance Review on Consolidated Information
</B></FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="82%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Three months ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Revenues</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>678</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">624</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Fuel and purchased power</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>249</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">278</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Carbon compliance</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Operations, maintenance and administration</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>234</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">150</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">132</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Asset impairment charges</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Interest expense</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">66</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Foreign exchange gain (loss)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Loss before income taxes</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Income tax (recovery) expense</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Net loss attributable to common shareholders</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(65</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&#8199;Net (loss) earnings attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Current Year Variance Analysis (Fourth quarter 2024 versus Fourth quarter 2023)
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Revenues </B>for the three months ended Dec. 31, 2024, increased by $54&nbsp;million, or nine per cent, compared
to the same period in 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher revenue in the Gas segment due to favourable contribution from hedging and the addition of
Heartland facilities; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher revenues in the Hydro segment due to higher production in the fourth quarter of 2024 due to
water conservation in the same period of 2023; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Revenue from the commercial operation of the White Rock and Horizon Hill wind facilities in the
current period; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower realized power prices and dispatch optimization in Alberta; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower revenues in the Energy Marketing segment due to lower market volatility across North American
power and natural gas markets; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower revenues in the Energy Transition segment due to increased economic dispatch due to lower
market prices. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Fuel and purchased power costs </B>for the three months ended Dec. 31, 2024,
decreased by $29&nbsp;million, or 10&nbsp;per cent, compared to the same period in 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower purchased power costs driven by lower <FONT STYLE="white-space:nowrap">Mid-</FONT> Columbia
prices on repurchases of power and lower production in the Energy Transition segment.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Carbon compliance costs </B>for the three months ended Dec.&nbsp;31, 2024,
increased by $12&nbsp;million compared to 2023 due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Carbon price increase from $65 to $80 per tonne; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Carbon compliance costs attributable to facilities acquired from Heartland.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>OM&amp;A expenses </B>for the three months ended Dec. 31, 2024, increased by $84&nbsp;million, or
56&nbsp;per cent, compared to the same period in 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Penalties assessed by the Alberta Market Surveillance Administrator for self-reported
contraventions pertaining to hydro ancillary services provided during 2021 and 2022; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Heartland acquisition-related transaction and restructuring costs; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spending in connection with planning and design work on a planned upgrade to our ERP system;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Addition of OM&amp;A costs from Heartland; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher maintenance costs at the South Hedland facility; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spend to support strategic and growth initiatives. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Depreciation and amortization </B>for the three months ended Dec. 31, 2024, increased by $11&nbsp;million, or eight per cent,
compared to the same period in 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Commercial operation of the White Rock and Horizon Hill wind facilities; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Revisions to the useful lives of certain facilities.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M36</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Asset impairment charges </B>for the three months ended Dec. 31, 2024 decreased by
$6&nbsp;million, or 23&nbsp;per cent, compared to the same period in 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower decommissioning and restoration provisions on retired assets driven by lower discount rates
in the current period compared to the same period in 2023; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Impairment charges related to development projects that are no longer proceeding.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Interest expense </B>for the three months ended Dec. 31, 2024 increased by $26&nbsp;million, or
39&nbsp;per cent, compared to 2023, primarily due to lower capitalized interest in 2024 as a result of capital projects being completed in the first half of 2024. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Foreign exchange gains </B>for the three months ended Dec.&nbsp;31, 2024 increased by $24&nbsp;million due to favorable changes
in foreign exchange rates. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Loss before income taxes </B>for the three months ended Dec. 31, 2024 totalling
$51&nbsp;million, increased by $16&nbsp;million, or 46&nbsp;per cent, compared to the same period in 2023, due to the above noted items.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Income tax recovery </B>for the three months ended Dec. 31, 2024, increased by
$27&nbsp;million, or 142&nbsp;per cent, compared to 2023 as a result of a higher loss before income taxes due to the above noted items; in addition to lower <FONT STYLE="white-space:nowrap">non-deductible</FONT> expenses. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Net loss attributable to common shareholders </B>for the three months ended Dec. 31, 2024 was $65&nbsp;million compared to a net
loss of $84&nbsp;million in the same period of 2023, an improvement of $19&nbsp;million, or 23&nbsp;per cent, primarily due to the above noted items. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Net earnings (loss) attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests </B>for the three months
ended Dec. 31, 2024, decreased by $9&nbsp;million, or 180&nbsp;per cent, compared to the same period in 2023, primarily due to lower TA Cogen net earnings resulting from lower Alberta market merchant pricing.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M37</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_10"></A>Segmented Financial Performance and Operating
Results for the Fourth Quarter </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A summary of our adjusted EBITDA by segment and loss before income taxes for the
three months ended Dec. 31, 2024, and 2023 is as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="83%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Adjusted&nbsp;EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Three months ended Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hydro</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>57</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">56</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind and Solar</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>95</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">82</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gas</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>116</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">141</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Energy Transition</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Energy Marketing</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Corporate</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>285</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">289</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Loss before
income taxes</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">This item is not defined and has no standardized meaning under IFRS and may not be comparable to
similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Loss before income taxes for the three months ended Dec.&nbsp;31, 2024, increased by
$16&nbsp;million, or 46&nbsp;per cent, compared to the same period in 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Factors causing lower adjusted EBITDA (as described above); </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher interest expense due to lower capitalized interest in the fourth quarter of 2024 resulting
from lower capital activity in 2024 compared to the same period in 2023; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Heartland acquisition-related transaction and restructuring costs in the fourth quarter of 2024;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher ERP upgrade costs related to planning and design work; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Penalties assessed by the Alberta Market Surveillance Administrator for self-reported
contraventions pertaining to Hydro ancillary services provided during 2021 and 2022; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher depreciation and amortization due to the commercial operation of the White Rock and Horizon
Hill wind facilities during 2024;
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher taxes other than income taxes mainly consisting of property taxes due to the addition of new
wind facilities during 2024; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher realized and unrealized foreign exchange gains; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower realized gains on closed exchange positions in 2024 compared to the same period in 2023;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher net other operating income mainly due to Sundance A decommissioning cost reimbursement; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower asset impairment charges related to the decommissioning and restoration provisions on retired
assets driven by lower discount rates in the current period compared to the same period in 2023, partially offset by impairment charges related to development projects that are no longer proceeding.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M38</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The major factors impacting adjusted EBITDA for the three
months ended Dec. 31, 2024, are summarized in the following table: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="86%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Three&nbsp;months<BR>ended&nbsp;Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted EBITDA for the three months ended Dec. 31,
2023</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">289</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Hydro: </B></FONT><FONT COLOR="#636466">Higher
due to higher merchant revenues driven by higher volumes, partially offset by lower spot power prices and lower environmental and tax attributes revenues.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Wind and Solar:
</B></FONT><FONT COLOR="#636466">Higher due to environmental and tax attributes revenues from the sale of production tax credits from Horizon Hill and White Rock West and East wind facilities to taxable US counterparties, higher revenues driven by
increased production from the addition of the White Rock and Horizon Hill wind facilities and the return to service of the Kent Hills wind facilities, partially offset by unfavourable merchant power prices in Alberta.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Gas: </B></FONT><FONT COLOR="#636466">Lower due
to lower realized power prices in Alberta, an increase in the carbon price in Canada, and higher OM&amp;A driven by higher maintenance costs at the South Hedland facility, partially offset by higher volume of favourable hedging positions settled,
positive contribution from the Heartland gas facilities and lower capacity payments.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(25</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Energy Transition: </B></FONT><FONT
 COLOR="#636466">Higher due to lower fuel and purchased power costs, partially offset by increased economic dispatch due to lower market prices.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Energy Marketing: </B></FONT><FONT
 COLOR="#636466">Higher due to favourable market volatility and the timing of realized settled trades during 2024 compared to the same period in 2023.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Corporate: </B></FONT><FONT COLOR="#636466">Lower due to higher
spend to support strategic and growth initiatives.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP>for the three months ended Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>285</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS and may not be
comparable to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">FCF for the three months ended Dec. 31, 2024, decreased by $73&nbsp;million, or 60&nbsp;per cent, compared to the same period in
2023. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="87%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Three&nbsp;months<BR>ended&nbsp;Dec.&nbsp;31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">FCF for the three months ended Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;&#8195;&#8195;121</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower adjusted EBITDA due to the items noted
above.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher net interest expense<SUP
STYLE="font-size:75%; vertical-align:top">(1) </SUP>due to lower capitalized interest as a result of capital projects being completed in the first half of 2024 and lower interest income due to lower cash balances in 2024.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(23</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher current income tax expense due to the full
utilization of Canadian <FONT STYLE="white-space:nowrap">non-capital</FONT> loss carryforwards in 2023, partially offset by a higher loss before income taxes in the current period compared to the same period in 2023.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(25</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower sustaining capital due to lower planned
maintenance at the Alberta gas facilities, partially offset by higher planned maintenance at the Sarnia cogeneration facility and Alberta hydro facilities.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher dividends paid on preferred
shares.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower distributions paid to subsidiaries&#8217; <FONT
STYLE="white-space:nowrap">non-controlling</FONT> interests due to lower TA Cogen net earnings.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher provisions accrued in the current year
compared to the prior year resulting in higher FCF.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher realized foreign exchange losses compared to
realized foreign exchange gains in the comparative period.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(29</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF<SUP STYLE="font-size:75%; vertical-align:top">(2)(3)
</SUP>for the three months ended Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>48</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net interest expense includes interest expense less interest income and excludes <FONT
STYLE="white-space:nowrap">non-cash</FONT> items like financing amortization and accretion. </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Refer to the Reconciliation of Cash Flow from Operations to FFO and FCF section tables in this
MD&amp;A for more details. </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">FCF is not defined and has no standardized meaning under IFRS and may not be comparable to
similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M39</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#40ac48"><B>Alberta Electricity Portfolio </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides information for the Company&#8217;s Alberta electricity portfolio for the three months ended Dec. 31:
</FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="46%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#171a5f"><B>Three months ended Dec. 31</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Gross installed capacity
(MW)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>834</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>764</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,650</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,248</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">834</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">766</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,960</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,560</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total production<SUP STYLE="font-size:75%; vertical-align:top">(1)
</SUP>(GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>367</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>619</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,164</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,150</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">278</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">745</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,966</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,989</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.86em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Contract production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>257</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>837</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,094</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">438</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">791</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.86em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Merchant production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>367</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>362</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,327</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,056</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">278</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">391</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,528</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,197</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Purchased power (GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(286</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(286</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Hedged production (GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>205</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>44</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,388</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,637</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">58</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">82</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,684</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,824</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Production contracted or hedged (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>56</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>49</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>149</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;%</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">58</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">108</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">87</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Hedged production as a percentage of gross
installed capacity (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;%</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="25"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Revenues<SUP STYLE="font-size:75%; vertical-align:top">(2)
</SUP>($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>72</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>235</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1&#8201;&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>332</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">71</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">221</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">331</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Fuel ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>86</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1&#8201;&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>91</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">76</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Purchased power ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Carbon compliance<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP>($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Gross margin<SUP
STYLE="font-size:75%; vertical-align:top">(2) </SUP>($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>70</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>101</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>191</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">66</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">33</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">115</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">215</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total production includes contract production and merchant production.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Revenues have been adjusted to exclude the impact of unrealized <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains or losses and to include realized gains and losses on closed exchange positions. Alberta Hydro revenues for the three months ended Dec. 31, 2024 exclude the impact of Brazeau penalties.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The intercompany sales of emission credits from the Hydro segment to the Gas segment is
eliminated on consolidation in the Corporate segment. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total production for the Alberta portfolio for the three months ended Dec. 31, 2024,
was 3,150 GWh, compared to 2,989 GWh for the same period in 2023. The increase of 161 GWh, or five per cent, was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production from the Alberta Gas assets due to the Heartland acquisition;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production from the Alberta Hydro Assets due to significant water conservation during the
fourth quarter of 2023; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher economic dispatch for the Alberta gas facilities; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower production in the Wind and Solar segment due to lower wind resource.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Hedged production for the Alberta portfolio for the three months ended Dec. 31, 2024, increased
compared to the same period in 2023. In anticipation of the risk of lower prices in 2024, the Company deployed a defensive strategy to increase financial hedges for the merchant portfolio at attractive margins. Realized gains and losses on financial
hedges are included in revenues in the table above.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Gross margin for the Alberta portfolio for the three months ended Dec. 31, 2024, was
$191&nbsp;million, compared to $215&nbsp;million in 2023. The decrease of $24&nbsp;million, or eleven per cent, was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower Alberta spot power prices; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher carbon compliance costs due to increase in the carbon price from $65 per tonne in 2023 to
$80 per tonne in 2024; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher purchased power due to the contractual requirement to fulfill physical power trades;
partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher gains realized on financial hedges settled in the period.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M40</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides information for the
Company&#8217;s Alberta electricity portfolio for the three months ended Dec. 31: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Three months ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Alberta Market</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Spot power price average per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">82</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Natural gas price (AECO) per GJ</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2.19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance price per tonne</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Alberta Portfolio Results</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Realized merchant power price per MWh<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>110</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">117</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hydro energy spot power price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">107</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hydro ancillary services price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind energy spot power price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gas spot power price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>75</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">101</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hedged power price average per
MWh<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">90</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hedged volume (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,637</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,824</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fuel cost per
MWh<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance cost per MWh<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Realized merchant power price for the Alberta electricity portfolio is the average price realized
as a result of the Company&#8217;s merchant power sales and portfolio optimization activities (excluding assets under long-term contract and ancillary revenues) divided by total merchant GWh produced. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Hedged power price average per MWh is calculated as the average sales price for all hedges and
direct customer sales during the reporting period. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Fuel cost per MWh is calculated on production from carbon-emitting generation in the Gas and
Energy Transition segments. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Carbon compliance cost per MWh is calculated on production from carbon-emitting generation, as
well as power purchased, in the Gas and Energy Transition segments. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The average spot power price per MWh for the Alberta portfolio for the three months
ended Dec. 31, 2024, decreased from $82 per MWh in 2023 to $52 per MWh in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher generation from the addition of increased supply of new renewables and combined-cycle gas
facilities into the market compared to the prior period; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower natural gas prices. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The realized merchant power price per MWh of production for the Alberta portfolio for the three months ended Dec. 31, 2024, although
significantly higher than average spot power prices during the year, decreased by $7 per MWh compared to the same period in 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower average spot power prices as explained above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower hedge prices compared to the prior year.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fuel cost per MWh for the three months ended Dec. 31, 2024, decreased by $1 per MWh,
compared to the same period in 2023, primarily due to lower natural gas prices. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Carbon compliance cost per MWh of
production for the Alberta portfolio for the three months ended Dec. 31, 2024, increased by $3 per MWh, compared to 2023, primarily due to the carbon compliance price increase from $65 per tonne in 2023 to $80 per tonne in 2024.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M41</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_11"></A>Selected Quarterly Information </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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, and 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
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
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></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">


<TR>

<TD WIDTH="61%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q1&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q2&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q3&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q4&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">947</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">582</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">638</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>678</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">134</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">144</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>234</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">124</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">133</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Earnings (loss) before income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">267</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">94</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Net earnings (loss) attributable to common shareholders</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">222</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">56</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(65</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Net earnings (loss) per share attributable to common shareholders, basic and
diluted<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.72</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(0.12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(0.22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Cash flow from operating
activities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">244</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">108</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">229</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>215</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q1 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q2 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q3 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q4 2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,089</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">625</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,017</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">624</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">32</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">124</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">134</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">150</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">176</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">173</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">140</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">132</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Earnings (loss) before income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">383</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">79</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">453</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Net earnings (loss) attributable to common shareholders</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">294</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">62</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">372</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Net earnings (loss) per share attributable to common shareholders, basic and
diluted<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1.10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1.41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(0.27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.40em; font-size:7.5pt; font-family:arial"><FONT COLOR="#636466">Cash flow from operating
activities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">462</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">681</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">310</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Basic and diluted earnings (loss) per share attributable to common shareholders is calculated in
each period using the basic and diluted weighted average common shares outstanding during the period, respectively. 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></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Operating results have been impacted by the following events: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Acquisition of Heartland on Dec. 4, 2024. Refer to the Significant and Subsequent events section of
this MD&amp;A for more details; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Commissioning of the Garden Plain wind facility in the third quarter of 2023, the Northern
Goldfields solar facilities in the fourth quarter of 2023, the White Rock West wind facility and the Mount Keith 132kV expansion in the first quarter of 2024 and the White Rock East and Horizon Hill wind facilities in the second quarter of 2024.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition to the items described above, revenues have been impacted by: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production in each quarter of 2024, compared to the same periods in the prior year;
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The effects of unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains and losses from hedging and derivative positions; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower realized pricing in each quarter of 2024, compared to the same periods in the prior years
impacted by additions of new natural gas, wind and solar supply in the Alberta market in 2024. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Carbon
compliance costs have been impacted by: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher costs of carbon per tonne. In 2024, the cost of carbon was $80 per tonne as compared to $65
per tonne in 2023; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">In the second quarter of 2024, carbon compliance costs were reduced by using internally generated
and externally purchased emission credits to settle a portion of the 2023 GHG obligation. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M42</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">OM&amp;A has been impacted by: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher costs stemming from planning and design work on a planned upgrade to our ERP system in all
quarters of 2024; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spend to support strategic and growth initiatives in all quarters of 2024 compared to same
period in prior year; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Return to service of Kent Hills wind facilities and the addition of Horizon Hill and White Rock
wind facilities. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">In the fourth quarter of 2024 Heartland acquisition- related transaction and restructuring costs,
mainly comprising severance, legal and consultant fees; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">In the fourth quarter of 2024 penalties assessed by the Alberta Market Surveillance Administrator
for self- reported contraventions pertaining to Hydro ancillary services provided during 2021 and 2022. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Depreciation has been impacted by: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Revisions in the useful lives of certain facilities that occurred in the third quarters of 2023 and
2024, partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in depreciation due to the addition of White Rock wind facilities in the first quarter
of 2024, Horizon Hill wind facilities in the second quarter of 2024. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher asset impairment charges
due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Development projects that are no longer proceeding in all four quarters of 2024;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increase in decommissioning provisions for retired assets due to changes in estimated cash flows in
the third quarter of 2023 and 2024; and
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">changes in expected timing of restoration expenditures occurring, recognized in the third quarter
of 2023 and the third and fourth quarters of 2024. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Earnings (loss) before income taxes has been
impacted by the following: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The items described above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher interest expense due to lower capitalized interest during 2024 as compared to 2023 resulting
from lower capital activity in 2024 compared to 2023. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Net earnings (loss) attributable to common
shareholders has been impacted by fluctuations in current and deferred tax expense with earnings before tax across the quarters. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Cash flow from operating activities has been impacted by the following: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The items described above; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Unfavourable changes in <FONT STYLE="white-space:nowrap">non-cash</FONT> operating working capital
balances in the last four quarters of 2024, compared to the same periods in the prior year due to unfavourable changes in accounts payable and accrued liabilities due to lower capital spend and lower cost accruals, partially offset by lower
collateral provided due to lower market volatility; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized foreign exchange gains in the last four quarters of 2024 compared to the same
periods in 2023; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher provisions and other <FONT STYLE="white-space:nowrap">non-cash</FONT> items.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_12"></A>Strategic Priorities </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company remains focused on investing in electricity solutions that meet the
evolving needs of customers and communities. We take a balanced, prudent and disciplined approach to capital allocation, ensuring long-term value creation for shareholders. Our strategy prioritizes generating meaningful, risk-adjusted returns by
optimizing our legacy thermal assets, operating our diverse fleet of renewable facilities, our exceptional marketing and trading capabilities, and expanding our generating portfolio through the addition of contracted clean energy assets and
selective gas assets. Given our skill set, competitive advantages and market positioning, we are well-positioned to capture significant opportunities in our core markets of Canada, the United States and Western Australia.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company continues to make strong progress on key strategic priorities, ensuring
the business remains resilient, growth-focused and aligned with the evolving energy landscape. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M43</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Optimize Alberta Portfolio </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In Alberta, the Company continues to proactively deploy hedging strategies, to mitigate the impact of lower merchant power prices,
along with optimization activities. The acquisition of Heartland Generation has significantly strengthened our Alberta portfolio, adding 1,747 MW of flexible capacity, including contracted cogeneration, peaking generation and transmission capacity.
Of note, the acquisition added 290 MW of peaking gas capacity, which will be optimized within our larger portfolio to address increasing intermittency in Alberta. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is maximizing the value of its hydro fleet by enhancing its operational capabilities and flexibility. We are also
advancing initiatives to maximize the value of our existing thermal assets and meet the growing demand for affordable and reliable power. </FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Execute Growth Plan </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, significant progress was made on growth initiatives. Early in the
year we successfully completed our two Oklahoma wind facilities: the 302 MW White Rock wind facilities and the 202 MW Horizon Hill wind facility. We also achieved commercial operations for our Mount Keith Transmission Expansion project. These
additions, along with the fully rehabilitated Kent Hills facilities are expected to contribute over $175&nbsp;million in EBITDA annually. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Our growth plan is guided by a technology-agnostic approach, focusing on our core operating jurisdictions and clear target customer segments within them. </FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Realize the Value of Legacy Generating Facilities </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is seeing considerable opportunities to support the energy transition with sophisticated, reliable and affordable power
solutions in our core operating jurisdictions. Particularly, at our legacy thermal sites in Alberta and Washington State, where we are actively pursuing accretive opportunities with existing and prospective customers. We believe that these sites
hold significant value and provide unique advantages to customers.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Maintain Financial Strength and Capital Discipline </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company maintains a strong financial position, with $1.6&nbsp;billion in liquidity as of Dec. 31, 2024, and a disciplined
approach to capital allocation. The Company balances investments in growth, debt repayments and returns to shareholders through share repurchases and dividend payments. Reflecting confidence in the business, the annual common share dividend was
increased by eight per cent to $0.26 per share, our sixth consecutive dividend increase, effective July&nbsp;1, 2025. The Company also announced an ongoing commitment to its share repurchase plan, allowing the Company to repurchase up to
$100&nbsp;million in common shares. Together, these actions represent a return of up to 35&nbsp;per cent of the midpoint of 2025 free cash flow guidance to shareholders. </FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Define Next Generation of Power Solutions </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has been at the forefront of innovation in the power-generation sector since the early 1900s when we developed our first
hydro assets. We continue to make progress on our identification of the next generation of energy solutions that will be needed to power our customers&#8217; needs in an efficient, reliable and affordable manner. Refer to the Enabling Innovation and
Technology Adoption section of the MD&amp;A for further discussion. </FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Lead in ESG and Market Policy Development </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is an active participant in policy development in all key markets in which we operate. Most notably, we are actively
engaging with the Government of Alberta and the Alberta Electric System Operator on Alberta&#8217;s restructured energy market, which is intended to deliver the objectives of reliability, affordability, and decarbonization by 2050 for the province.
TransAlta is committed to actively engaging in the AESO&#8217;s consultation process, to support the development of an investable market structure that can responsibly achieve a sustainable grid in a manner that ensures reliability and affordability
for Albertans. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M44</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Growth </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Throughout 2024 we refined our development pipeline to reflect our views on changes
in regulation, interconnection timelines and with a focus on maximizing returns and meeting the evolving needs of our customers. We also incorporated additional redevelopment opportunities at our legacy thermal facilities. We will continue to take a
disciplined approach to evaluating project economics. Our pipeline includes 280 MW of advanced-stage development projects along with 3,330 to 5,230 MW of projects in earlier stages of development. We are focused primarily on redevelopment
opportunities at our legacy sites in addition
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
to evaluating greenfield and merger and acquisition prospects in Alberta, Western Australia and the western United States. </FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Advanced-Stage Development </B></FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">These projects have detailed engineering, advanced positions in the interconnection queue and/or are progressing offtake opportunities. Projects in advanced-stage development do not have final approval from the Board of Directors at
time of reporting. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table shows the pipeline of future growth projects in advanced-stage development: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="19%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="20%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="20%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="18%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Project</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Type</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Region</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Target&nbsp;investment&nbsp;date</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.33em; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>MW</B></FONT></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Tempest</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Alberta</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">On&nbsp;hold</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.33em; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#636466">100</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">WaterCharger</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Battery&nbsp;Storage</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Alberta</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">On&nbsp;hold</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.33em; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#636466">180</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M45</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Early-Stage Development </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These projects are in the early stages and may or may not move ahead. Generally, these projects will have: </FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Collected meteorological data; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Begun securing land control; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Started environmental studies;
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Confirmed appropriate access to transmission; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Started preliminary permitting and other regulatory approval processes.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table shows the pipeline of future growth projects currently under early-stage development: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="42%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Project</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Type</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Region</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Potential<BR>investment<BR>date<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>MW</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Canada</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">New Brunswick Battery</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Battery</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">New&nbsp;Brunswick</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2027+</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">SunHills Solar</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Solar</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Alberta</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2027+</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">170</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Tent Mountain Pumped
Storage<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Alberta</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2029</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">192</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Provost</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Alberta</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2027+</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">170</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Red Rock</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Alberta</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2027+</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Antelope Coulee</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Saskatchewan</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2027+</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">200</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other Canadian Opportunities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Various</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2026+</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">374</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Brazeau Pumped Hydro</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Alberta</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">TBD</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">300-900</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alberta Thermal Redevelopment<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Various</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Alberta</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2027+</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">400-1200</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B><FONT STYLE="white-space:nowrap">1,916&nbsp;-&nbsp;3,316</FONT></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>United States</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Square Top</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Solar</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Oklahoma</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2026</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">195</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Old Town</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Illinois</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2026</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">185</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Trapper Valley</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wyoming</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2027+</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">225</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other U.S. opportunities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Various</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2026+</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">144</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Centralia site redevelopment<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Various</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Washington</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2025+</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">500-1000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B><FONT STYLE="white-space:nowrap">1,249&nbsp;-&nbsp;1,749</FONT></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Australia</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Boodarie Solar</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Solar</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Western&nbsp;Australia</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2025</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other Australian opportunities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Gas,&nbsp;Solar,&nbsp;Transmission</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Western Australia</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2025+</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">115</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>165</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Canada, United States and
Australia</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,330&nbsp;-5,230</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Potential investment date is to be determined (TBD). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">This represents the Company&#8217;s 60&nbsp;per cent interest in Tent Mountain Renewable Energy
Complex. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Company is currently evaluating redevelopment opportunities at these brownfield sites.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M46</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Projects under Construction </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Projects under construction will be financed through existing liquidity in the near
term. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We will continue to explore permanent financing solutions on an <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">asset-by-asset</FONT></FONT> basis. We are continually monitoring the timing and costs of our projects under construction. </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following projects have been approved by the Board of Directors, have executed
PPAs and are currently under construction or in the process of being commissioned: </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="22%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total&nbsp;project&nbsp;(millions)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="6" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Project</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Type</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Region</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>MW</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Estimated<BR>spend</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Spent&nbsp;to<BR>date</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Target<BR>completion</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>date</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>PPA</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Term<BR>(years)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Average<BR>annual</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>range</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Status</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="45"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" COLSPAN="44" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Western
Australia</B></FONT></P></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" ROWSPAN="2" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Mount&nbsp;Keith</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">West</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT
 COLOR="#636466">network</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">upgrade</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Transmission</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">WA</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">n/a</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">AU$37</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">AU$40</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">AU$19</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q4&nbsp;2025</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="center"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">AU$6&nbsp;-&nbsp;AU$7</FONT></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:arial; "></P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.322222em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&nbsp;<BR></FONT></P></DIV></DIV></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:arial; "><FONT COLOR="#636466"><FONT
STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.322222em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Engineering<BR>completed</FONT></P></DIV></DIV></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:arial; "></P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.322222em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&nbsp;<BR>&nbsp;</FONT></P></DIV></DIV></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:arial; "></P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.322222em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&nbsp;<BR></FONT></P></DIV></DIV></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:arial; "><FONT COLOR="#636466"><FONT
STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></P></DIV><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.322222em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Site
works<BR>commenced</FONT></P></DIV></DIV></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:arial; "></P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.322222em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&nbsp;<BR>&nbsp;</FONT></P></DIV></DIV></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:arial; "></P></DIV><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.322222em; font-size:9pt; font-family:arial"><FONT
 COLOR="#636466">&nbsp;<BR><BR></FONT></P></DIV></DIV></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:arial; "><FONT
 COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></P></DIV><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.322222em; font-size:9pt; font-family:arial"><FONT
 COLOR="#636466">On&nbsp;track&nbsp;to&nbsp;be<BR>completed<BR>on schedule</FONT></P></DIV></DIV></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><DIV STYLE="display: table-row;"><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:arial; "></P></DIV><DIV STYLE="display: table-cell"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.322222em; font-size:9pt; font-family:arial"><FONT
 COLOR="#636466">&nbsp;<BR>&nbsp;<BR>&nbsp;</FONT></P></DIV></DIV></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>n/a</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>$34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>$36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="center"><FONT COLOR="#636466"><B>$17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="center"><FONT COLOR="#636466"><B>$6&nbsp;-&nbsp;$7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">This item is not defined and has no standardized meaning under IFRS and is forward-looking. It
may not be comparable to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A for further discussion. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total expected spending and average annual EBITDA were converted using a Canadian dollar forward
exchange rate for 2024. Spend to date was converted using the <FONT STYLE="white-space:nowrap">period-end</FONT> closing rate. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M47</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_13"></A>Financial Position </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table highlights significant changes in the Consolidated Statements of Financial Position from Dec.&nbsp;31, 2023, to
Dec. 31, 2024: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="60%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Increase/(decrease)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Assets</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Current assets</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Cash and cash equivalents</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>337</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">348</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">(11)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Trade and other receivables</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>767</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">807</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">(40)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Risk management assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>318</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">151</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">167</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Assets held for sale</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Other current assets<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>271</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">274</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total current assets</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,773</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,580</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>193</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B><FONT STYLE="white-space:nowrap">Non-current</FONT>
assets</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Risk management assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>93</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Investments</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>159</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">138</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Property, plant and equipment, net</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,020</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">5,714</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">306</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Intangible assets, net</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>281</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">223</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">58</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Goodwill</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>517</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">464</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Long-term portion of finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>305</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">171</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">134</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Other
<FONT STYLE="white-space:nowrap">non-current</FONT> assets<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>299</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">296</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total
<FONT STYLE="white-space:nowrap">non-current</FONT> assets</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7,726</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7,079</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">647</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total assets</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9,499</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8,659</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">840</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Current liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Accounts payable, accrued liabilities and other current
liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>756</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">809</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">(53)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Risk management liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>277</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">314</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">(37)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Decommissioning and other provisions (current)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>83</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Credit facilities, long-term debt and lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>572</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">532</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Exchangeable securities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>750</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">750</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Contingent consideration payable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>81</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Other current liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total current
liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,569</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,742</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">827</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B><FONT STYLE="white-space:nowrap">Non-current</FONT>
liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Credit facilities, long-term debt and lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,236</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">2,934</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">302</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Exchangeable securities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">744</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">(744)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Decommissioning and other provisions (long-term)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>850</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">654</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">196</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Risk management liabilities (long-term)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>305</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">274</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Defined benefit obligation and other long-term liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>202</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">251</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">(49)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>470</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">386</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Other
<FONT STYLE="white-space:nowrap">non-current</FONT> liabilities<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total
<FONT STYLE="white-space:nowrap">non-current</FONT> liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,087</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5,253</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(166</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7,656</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">6,995</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">661</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD>
<TD HEIGHT="10" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Equity</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Equity attributable to shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,746</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">1,537</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt" ALIGN="right"><FONT COLOR="#636466">209</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">127</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total equity</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,843</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,664</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">179</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.38em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total liabilities and
equity</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9,499</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8,659</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">840</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1.5ptBORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes restricted cash, inventory and prepaid expenses and other. </FONT></P></TD></TR></TABLE>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> assets and other assets. </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes bank overdraft and dividends payable. </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes contract liabilities. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M48</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Significant changes in Company&#8217;s Consolidated Statements of Financial Position
were as follows: </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 4, 2024, the Company acquired Heartland. The Financial Position as at Dec. 31, 2024 includes
the assets and liabilities of Heartland. Refer to note 4 of our consolidated financial statements for further details. </FONT></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Working
Capital </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The deficit of current assets over current liabilities, including the current portion of long-term debt and
lease liabilities, was $796&nbsp;million as at Dec. 31, 2024 (Dec. 31, 2023 &#8211; deficit of current assets over current liabilities of $162 million). The deficit increased primarily as a result of the reclassification of the exchangeable
securities to a current liability. The exchangeable securities are classified as current as their conversion option can be exercised at any time after Dec. 31, 2024 at Brookfield&#8217;s option, although there is no obligation to deliver cash
equivalent resources and the holder cannot call for repayment. Refer to the Accounting Changes section of this MD&amp;A for more details. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Current assets increased by $193&nbsp;million to $1,773&nbsp;million as at Dec. 31, 2024, from $1,580&nbsp;million as at Dec. 31, 2023, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher risk management assets mainly due to changes in market pricing across multiple markets as
well as higher price forecasts; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Addition of assets held for sale for the Planned Divestitures (refer to Significant and Subsequent
events section); partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower trade receivables, mainly due to timing of cash receipts and lower collateral provided in the
Energy Marketing segment due to favourable changes in market prices, offset by an increase in trade and other receivables due to Heartland acquisition; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower cash and cash equivalents mainly due to lower cash flow from operating activities.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Current liabilities increased by $827&nbsp;million from $1,742&nbsp;million as at Dec. 31, 2023, to
$2,569&nbsp;million as at Dec. 31, 2024, mainly due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The exchangeable securities being classified as current as described above;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Contingent consideration payable related to the Planned Divestitures (refer to the Significant and
Subsequent events section); and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher current portion of decommissioning and other provisions due to the addition of balances from
Heartland; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher current portion of credit facilities, long-term debt and lease liabilities mainly due to
additions of balances from Heartland; partially offset by
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower accounts payable, accrued liabilities and other current liabilities mainly due to lower cost
accruals and lower capital spend, partially offset by the additions of accounts payable balances from Heartland acquisition and higher current income taxes payable; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower risk management liabilities due to changes in market pricing across multiple prices and
contract settlements. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-Current</FONT> Assets </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-current</FONT> assets as at Dec. 31, 2024, were $7,726&nbsp;million, an increase of
$647&nbsp;million from $7,079&nbsp;million as at Dec. 31, 2023, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher property, plant and equipment (PP&amp;E) resulting from $413&nbsp;million of additions from
Heartland recognized at acquisition and capital additions of $311&nbsp;million mainly related to the construction of growth projects and planned major maintenance activities. The increase in PP&amp;E additions was partially offset by depreciation of
$516&nbsp;million; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher finance lease receivable related to the additions from Heartland and the Mount Keith 132kV
finance lease receivable; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher deferred income tax asset due to an increase in deductible temporary differences arising
from the Heartland acquisition; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher risk management assets due to favourable changes in market prices across multiple markets
and addition of risk management assets from Heartland; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher goodwill balance due to goodwill arising on Heartland acquisition;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher intangibles mainly due to the addition of power sale contracts from Heartland; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher investments balance resulting from contributions and equity income from equity-accounted
investments. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-Current</FONT> Liabilities </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-current</FONT> liabilities as at Dec. 31, 2024 were $5,087&nbsp;million, a decrease of
$166&nbsp;million from $5,253&nbsp;million as at Dec. 31, 2023, mainly due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The exchangeable securities being classified as current liabilities; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower defined benefit obligations and other long-term liabilities mainly due to a decrease in
retail power contract liabilities resulting from amortization based on volumes delivered; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increase in credit facilities, long-term debt and lease liabilities due to the addition of
Heartland credit facilities and an increase in the cash drawings under the syndicated credit facility; </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M49</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increase in decommissioning and other provisions due to additions of generating facilities from
Heartland acquisition, revisions in discounts rates and estimated decommissioning costs and commissioning of Horizon Hill and White Rock wind facilities; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher deferred income tax liabilities due to an increase in temporary taxable differences arising
from the Heartland acquisition; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher risk management liabilities due to forward price changes and volatility in market pricing
across multiple markets. </FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Total Equity </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Dec. 31, 2024, the increase in total equity of $179&nbsp;million was due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Net earnings of $239&nbsp;million; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Net gains on derivatives from cash flow hedges of $194&nbsp;million; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Share repurchases under the NCIB of $143&nbsp;million; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Dividends declared on common and preferred shares of $123&nbsp;million; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Distributions to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests of
$40&nbsp;million. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_14"></A>Financial Capital </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is focused on maintaining a strong balance sheet and financial position
to ensure access to sufficient financial capital. Credit ratings provide information relating to the Company&#8217;s financing costs, liquidity and operations, and affect the Company&#8217;s ability to obtain short and long-term financing and/or the
cost of such financing. Maintaining a strong balance sheet also allows the Company to enter into contracts with a variety of counterparties on terms and prices that are favourable to the Company&#8217;s financial results and provide TransAlta with
better access to capital markets through commodity and credit cycles.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, Moody&#8217;s reaffirmed the Company&#8217;s long-term rating of Ba1 with a
stable outlook. Morningstar DBRS reaffirmed the Company&#8217;s issuer rating and unsecured debt/medium-term notes rating of BBB (low) and the Company&#8217;s preferred shares rating of <FONT STYLE="white-space:nowrap">Pfd-3</FONT> (low), all with a
stable outlook. In addition, S&amp;P Global Ratings reaffirmed the Company&#8217;s senior unsecured debt rating and issuer credit rating of BB+ with a stable outlook. Risks associated with our credit ratings are discussed in the Governance and Risk
Management section of this MD&amp;A. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M50</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Capital Structure </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our capital structure consists of the following components as shown below: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">%</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Net senior unsecured debt</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Recourse debt - CAD debentures</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>251</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">251</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">251</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Recourse debt - U.S. senior notes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>995</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">911</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">934</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Credit facilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>543</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">397</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">428</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Less: cash and cash
equivalents<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(336</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(345</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1,118</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Less: other cash and liquid assets<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net senior unsecured
debt</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,446</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,219</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">493</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Other debt liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Exchangeable debentures</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>350</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">344</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">339</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-recourse</FONT> debt</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">TAPC Holdings LP bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>75</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">85</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">94</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Pingston bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">45</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Melancthon Wolfe Wind bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>133</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">168</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">202</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">New Richmond Wind bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>93</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">103</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">112</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Kent Hills Wind bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">193</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">206</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Windrise Wind bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>157</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">164</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">170</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">South Hedland <FONT STYLE="white-space:nowrap">non-recourse</FONT>
debt</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>675</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">691</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">711</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Heartland term facility</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>224</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">OCP Bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>192</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">217</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">241</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">OCP LP restricted
cash<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">U.S. tax equity financing</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>101</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">104</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">123</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>151</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">135</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total consolidated net debt<SUP
STYLE="font-size:75%; vertical-align:top">(4)(5)(6)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,798</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,453</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">63</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2,854</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Exchangeable preferred
securities<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>400</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Equity attributable to shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Common shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,285</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">60</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2,863</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">54</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>942</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">942</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">942</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Contributed surplus, deficit and accumulated other comprehensive
loss</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2,375</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(2,690</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(2,695</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">127</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">879</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total capital</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,041</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>100</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5,517</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5,243</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Cash and cash equivalents is net of bank overdraft. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes the fair value of economic and designated hedging instruments on debt, as the carrying
value of the related debt is impacted by changes in foreign exchange rates. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Principal portion of the TransAlta OCP LP restricted cash related to the TransAlta OCP LP bonds
as this cash is restricted specifically to repay outstanding debt. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These items are not defined and have no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A for further discussion, including reconciliations to measures calculated in
accordance with IFRS. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The tax equity financing for the Skookumchuck wind facility, an equity-accounted joint venture,
is not represented in these amounts. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(6)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The total consolidated net debt excludes the exchangeable preferred securities as they are
considered equity with dividend payments for credit purposes. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M51</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have enhanced liquidity and shareholder value through the following: </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2024 </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Renewed the $400&nbsp;million Term Facility with the maturity extended by one year to September
2025; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Extended the $1.9&nbsp;billion syndicated credit facility and $240&nbsp;million bilateral credit
facilities by one year to June 2028 and June 2026, respectively; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Purchased and cancelled 13,467,400 common shares at an average price of $10.59 per share through
our NCIB program, for a total cost of $143&nbsp;million; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Assumed new credit facilities and letter of credit facilities as part of the Heartland acquisition.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2023 </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Extended the committed syndicated credit facility by one year to June&nbsp;30, 2027, and the
committed bilateral credit facilities by one year to June&nbsp;30, 2025; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Refinanced the $45&nbsp;million Pingston <FONT STYLE="white-space:nowrap">non-recourse</FONT> bond
due in 2023 with a <FONT STYLE="white-space:nowrap">non-recourse</FONT> bond for approximately $39&nbsp;million, with a fixed interest rate of 6.145&nbsp;per cent per annum, payable semi-annually, and maturing on May&nbsp;8, 2043; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Purchased and cancelled 7,537,500 common shares at an average price of $11.49 per share through our
NCIB program, for a total cost of $87&nbsp;million.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>2022 </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Issued US$400&nbsp;million Senior Green Bonds, with a fixed coupon rate of 7.75&nbsp;per cent per
annum (effective interest rate of 5.98 per cent), due on Nov. 15, 2029; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Repaid the US$400&nbsp;million 4.50&nbsp;per cent unsecured senior notes due 2022;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Extended the committed syndicated credit facilities by one year to June&nbsp;30, 2026, and the
committed bilateral credit facilities by one year to June&nbsp;30, 2024; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Closed a <FONT STYLE="white-space:nowrap">two-year</FONT> floating rate Term Facility with our
banking syndicate for $400&nbsp;million with a maturity date of Sept. 7, 2024. The Term Facility has interest rates that vary depending on the option selected (e.g., Canadian prime and bankers&#8217; acceptances); and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Purchased and cancelled 4,342,300 common shares at an average price of $12.48 per share through our
NCIB program, for a total cost of $54&nbsp;million. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Credit Facilities
</B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s credit facilities are summarized in the table below: </FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="57%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>As at Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Utilized</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Credit facilities</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Facility<BR>size</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Outstanding<BR>letters of<BR>credit<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Cash<BR>drawings</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Available<BR>capacity</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Maturity<BR>date</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Committed</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Syndicated credit facility</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,950</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">456</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">145</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,349</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q2 2028</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Bilateral credit facilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">240</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">161</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">79</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q2 2026</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Term Facility</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q3 2025</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Heartland Credit Facilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">276</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">224</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q4&nbsp;2027</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Heartland EDC letter of credit
facility</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">Q1 2025</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total Committed</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,916</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>645</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>769</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,502</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B><FONT STYLE="white-space:nowrap">Non-Committed</FONT></B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Demand facilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">220</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">180</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="center"><FONT COLOR="#636466">N/A</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total
<FONT STYLE="white-space:nowrap">Non-Committed</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>400</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>220</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>180</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">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. Letters of credit drawn
against the <FONT STYLE="white-space:nowrap">non-committed</FONT> facilities reduce available capacity under the committed syndicated credit facilities. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M52</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In the second quarter of 2024, the $400&nbsp;million Term Facility was renewed with
the maturity extended by one year to September 2025. The $1,900 syndicated credit facility and $240&nbsp;million bilateral credit facilities were also extended by one year to June 2028 and June 2026, respectively. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As part of the Heartland acquisition on Dec. 4, 2024, the Company assumed a $232&nbsp;million drawn term facility and
$25&nbsp;million revolving facility with a syndicate of banks, (collectively Heartland Credit Facilities). At Dec. 31, 2024 the drawn term facility was $224&nbsp;million. The $25&nbsp;million revolving facility is undrawn and available for working
capital and general corporate purposes. The maturity date for the Heartland Credit Facilities is Dec. 22, 2027. The Heartland Credit Facilities also include a $27&nbsp;million debt service reserve letter of credit facility. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As part of the Heartland acquisition, the Company has access to a $50&nbsp;million unsecured letter of credit facility with two
Canadian banks, which is supported by a performance security guarantee from Export Development Canada (EDC). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Heartland Credit Facilities are not subject to any maintenance or financial covenants but do contain certain covenants that limit Heartland&#8217;s ability to, among other things, incur additional indebtedness, create or permit liens to exist, make
certain acquisitions or dispositions, make distributions and enter into certain hedging agreements. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B><FONT STYLE="white-space:nowrap">Non-Recourse</FONT> Debt and Other </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Melancthon Wolfe Wind LP, Pingston Power Inc., TAPC Holdings LP, New Richmond Wind LP, Kent Hills Wind LP, TEC Hedland Pty Ltd.
and Windrise Wind LP <FONT STYLE="white-space:nowrap">non-recourse</FONT> bonds, the TransAlta OCP LP bond, and Heartland Credit Facilities 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 fourth quarter of 2024, with the exception of Kent Hills Wind LP. The funds in the Kent Hills Wind entity that have accumulated
since the fourth quarter test will remain there until the next debt-service coverage ratio is calculated in the first quarter of 2025. At Dec. 31, 2024, $117&nbsp;million (Dec. 31, 2023 &#8211; $79 million) of cash was subject to these financial
restrictions. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Dec. 31, 2024, $5&nbsp;million (AU$6 million) of funds held by TEC Hedland Pty
Ltd. are not able to be accessed by other corporate entities as the funds must be solely used by the project entities for the purpose of paying major maintenance costs. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Additionally, certain <FONT STYLE="white-space:nowrap">non-recourse</FONT> bonds require that reserve accounts be established and
funded through cash held on deposit and/or by providing letters of credit. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Between 2025 and 2027, the Company has a
total of $1,066&nbsp;million of scheduled debt repayments, including the $400&nbsp;million maturity of the Term Facility, with the balance of $666&nbsp;million related to scheduled <FONT STYLE="white-space:nowrap">non-recourse</FONT> debt and tax
equity repayments. The $750&nbsp;million of exchangeable securities are exchangeable after Dec. 31, 2024. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>U.S. Tax Equity Financing
and Production Tax Credits </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company owns equity interests in wind facilities that are eligible for tax incentives
available for renewable energy facilities in the U.S. Current U.S., tax law allows qualified wind energy projects to receive production tax credits (PTCs) that are earned for each MWh of generation during the first 10 years of the project&#8217;s
operation. To monetize tax incentives, the Company has partnered with Tax Equity Investors (TEIs) who invest in these facilities in exchange for a share of the tax incentives and cash. TransAlta accounts for the TEIs&#8217; interest as long-term
debt, where cash distributions and allocations of tax incentives to the TEIs primarily reduce the long-term debt balance. Upon the TEIs achieving an agreed-upon <FONT STYLE="white-space:nowrap">after-tax</FONT> investment return, the project flip
point occurs (Flip Point). Prior to achieving the Flip Point, the TEIs are allocated substantially all of the taxable attributes including PTCs produced and a proportion of cash. After the Flip Point has been reached, the Company retains
substantially all of the cash and the taxable income (losses) generated by the facility. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2023, U.S. tax laws were
amended to allow entities to monetize certain clean energy tax credits, including PTCs, by transferring (selling) them to third-party taxpayers, in exchange for cash consideration.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M53</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table outlines information regarding the
Company&#8217;s tax equity financing arrangements with PTC eligibility: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Facility</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Commercial<BR>operation&nbsp;date</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Expected<BR>Flip<BR>Point</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Initial TEI<BR>investment<BR>($US)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Expected<BR>annual&nbsp;PTC<BR>($US)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>TEI allocation</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>of cash<BR>distributions<BR><FONT STYLE="white-space:nowrap">(pre-Flip</FONT> Point)<BR>Undiscounted<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP><BR>($US)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>TEI allocation<BR>of taxable<BR>income and<BR>PTCs<BR><FONT STYLE="white-space:nowrap">(pre-Flip&nbsp;Point)</FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lakeswind</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2014</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2027</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">45</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">99%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Big Level and Antrim</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2019</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2029</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">126</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">99%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Skookumchuck<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2020</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2030</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">121</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">99%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">North Carolina Solar</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2021</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2028</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">64</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">N/A</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">N/A</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Cumulative expected cash distributions from Dec. 31, 2024 to the expected Flip Point.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Company has a 49&nbsp;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. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Returns to Providers of Capital </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Interest Income and Interest Expense </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Interest income and the components of interest expense are
shown below: </FONT></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="69%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Interest income</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">59</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on debt</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>197</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">203</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">164</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on exchangeable debentures</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on exchangeable preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Capitalized interest</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(57</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Credit facility fees, bank charges and other interest</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Tax shield on tax equity financing</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accretion of provisions</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Interest expense</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>324</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">281</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">286</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Interest income was lower due to lower average cash balances and lower interest
rates. Interest expense was higher than in 2023, primarily due to lower capitalized
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">interest resulting from lower construction activity in 2024 compared to 2023.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M54</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Share Capital </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following tables outline the common and preferred shares issued and outstanding: </FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="56%"></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="12"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number of shares (millions)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>As at</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Feb.&nbsp;19,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Common shares issued and outstanding, end of
period</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>297.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>297.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">306.9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Preferred shares</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series B</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2.4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series C</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series D</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series E</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series G</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>6.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>6.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">6.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Preferred shares issued and outstanding in
equity</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>38.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>38.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">38.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series I - exchangeable securities<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>0.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>0.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Preferred shares issued and
outstanding</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>39.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>39.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">39.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Brookfield invested $400&nbsp;million in consideration for redeemable, retractable, first
preferred shares. For accounting purposes, these preferred shares are considered debt and disclosed as such in the consolidated financial statements. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-Controlling</FONT> Interests </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Oct. 5, 2023, the Company acquired all of the outstanding common shares of
TransAlta Renewables not already owned, directly or indirectly, by TransAlta and certain of its affiliates. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Dec.
31, 2024, the Company owned 50.01&nbsp;per cent of TransAlta Cogeneration, LP (TA Cogen) (Dec. 31, 2023 &#8211; 50.01 per cent), which owns, operates or has an interest in three
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-fired</FONT></FONT> cogeneration facilities (Ottawa, Windsor and Fort Saskatchewan) and a
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-fired</FONT></FONT> facility (Sheerness). On Dec. 4, 2024, the Company acquired the remaining 50&nbsp;per cent interest in Sheerness as part of the Heartland acquisition.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Dec. 31, 2024, the Company owned 83&nbsp;per cent of Kent Hills Wind LP (Dec. 31, 2023 - 83 per cent), which owns
and operates three wind facilities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Since the Company owns a controlling interest in TA Cogen and Kent Hills Wind LP, we
consolidated the entire earnings, assets and liabilities in relation to the subsidiaries.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Earnings, assets and liabilities of these subsidiaries, and of TransAlta Renewables
prior to Oct. 5, 2023, were allocated to the other owners in proportion to their ownership interests. On Oct. 5, 2023, the Company acquired all of the outstanding common shares of TransAlta Renewables not already owned, directly or indirectly.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The reported net earnings attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests for the year
ended Dec. 31, 2024, decreased by $91&nbsp;million, compared to 2023, primarily as a result of lower TA Cogen net earnings attributable to non- controlling interests resulting from lower production and lower merchant pricing in the Alberta market
and the cessation of distributions to TransAlta Renewables <FONT STYLE="white-space:nowrap">non-</FONT> controlling interest.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M55</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_15"></A>Cash Flows </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table highlights significant changes in the Consolidated Statements of Cash Flows for the year ended Dec. 31, 2024
and Dec. 31, 2023: </FONT></P> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="63%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31.</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024&#8196;&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022&#8196;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash and cash equivalents, beginning of year</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>348</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,134</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">947</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Provided by (used in):</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Operating activities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>796</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,464</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">877</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Investing activities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(520</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)</B>&#8194;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(814</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(741</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Financing activities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(291</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1,432</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">45</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Translation of foreign currency cash</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash and cash equivalents, end of
year</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>337</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">348</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,134</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Cash Flow from Operating Activities </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash from operating activities for the year ended Dec. 31, 2024, decreased compared with the same period in 2023, primarily due to
the following: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="89%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Year&nbsp;ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Dec. 31</B></FONT></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:2.78em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash flow
from operating activities for the year ended Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,464</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:2.78em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower
gross margin due to lower revenues, excluding the effect of unrealized losses from risk management activities, partially offset by lower fuel and purchased power.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(351</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:2.78em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher
OM&amp;A due to increased spending on planning and design of an ERP system upgrade, higher spending on strategic and growth initiatives, penalties assessed by the Alberta Market Surveillance Administrator for self-reported contraventions and
Heartland acquisition-related transaction and restructuring costs.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(116</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:2.78em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher
current income tax expense due to the full utilization of Canadian <FONT STYLE="white-space:nowrap">non-capital</FONT> loss carryforwards in 2023, offset by lower earnings before income taxes in 2024.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(93</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:2.78em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower
interest income due to lower cash balances and lower interest rates.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(29</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:2.78em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher
interest expense on debt primary due to lower capitalized interest resulting from lower construction activity in 2024 compared to 2023.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:2.78em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Unfavourable change in <FONT STYLE="white-space:nowrap">non-cash</FONT> operating working
capital balances due to lower accounts payables and accrued liabilities, partially offset by lower collateral provided as a result of market price volatility.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(86</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:2.78em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other <FONT
STYLE="white-space:nowrap">non-cash</FONT> items</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Cash flow from operating
activities for the year ended Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>796</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M56</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash from operating activities for the year ended Dec. 31,
2023, increased compared with the same period in 2022, primarily due to the following: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="89%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year&nbsp;ended<BR>Dec. 31</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash flow from operating
activities for the year ended Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">877</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:3.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher
gross margin due to lower natural gas costs included in fuel and purchased power, partially offset by lower revenues net of unrealized gains and losses from risk management activities and higher carbon compliance costs.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">127</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:3.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher
OM&amp;A due to increased spending on strategic and growth initiatives, higher costs associated with the relocation of the Company&#8217;s head office, and increased costs due to inflationary pressures.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(18</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:3.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower
current income tax expense due to previously restricted <FONT STYLE="white-space:nowrap">non-capital</FONT> loss carryforwards were utilized to offset taxable income.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:3.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher
interest income due to higher cash balances and favourable interest rates.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:3.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Favourable
change in <FONT STYLE="white-space:nowrap">non-cash</FONT> operating working capital balances due to lower accounts receivable and collateral provided as a result of volatility in the market and market prices, partially offset by lower accounts
payable and collateral received related to derivative instruments.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">440</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:3.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow from operating activities for
the year ended Dec. 31, 2023</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,464</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Cash Flow Used in Investing Activities </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash used in investing activities for the year ended Dec. 31, 2024, decreased compared with the same period in 2023, primarily due
to the following: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="89%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year&nbsp;ended<BR>Dec. 31</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow used in investing activities for the
year ended Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(814</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash paid for the acquisition of
Heartland.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(217</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lower additions to PP&amp;E due to larger
construction program in 2023 compared to 2024.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">564</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lower proceeds on sale of PP&amp;E due to the
sale of equipment related to Sundance Unit 5 in 2023.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Unfavourable change in <FONT
STYLE="white-space:nowrap">non-cash</FONT> investing working capital balances due to lower capital accruals.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:3.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower cash
receipts under the new Mount Keith 132kV expansion finance lease receivable as compared to the Southern Cross Energy finance lease receivable.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lower cash contributions to equity accounted
investments.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow used in investing activities
for the year ended Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(520</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Mainly comprised of the lease incentive received, offset by lower realized gains on financial
instruments, increase in the restricted cash balance and other investing items. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M57</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash used in investing activities for the year ended Dec. 31,
2023, increased compared with the same period in 2022, primarily due to the following: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="89%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year&nbsp;ended<BR>Dec. 31</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow used in investing activities for the
year ended Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(741</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:3.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower
additions to PP&amp;E due to 2022 additions mainly for the construction of the White Rock wind projects, Garden Plain wind facility, the Horizon Hill wind project and the Northern Goldfields solar facilities. In 2023, most of these facilities
achieved commercial operation.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lower intangible assets due to lower additions
of intangibles under development.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; margin-right:3.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower
proceeds on sale of PP&amp;E due to closing the sale of two hydro facilities and equipment related to Sundance Unit 5 and other equipment in 2022.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Unfavourable change in <FONT
STYLE="white-space:nowrap">non-cash</FONT> investing working capital balances due to lower capital accruals.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(69</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow used in investing activities
for the year ended Dec. 31, 2023</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(814</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Mainly comprised of higher spending on project development costs, higher contributions to
investments, lower insurance proceeds and lower settlements in 2023. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Cash Flow Used in Financing Activities
</B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash used in financing activities for the year ended Dec. 31, 2024, decreased compared with the same period in 2023,
primarily due to the following: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="89%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year&nbsp;ended<BR>Dec. 31</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow used in financing activities for the
year ended Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1,432</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Acquisition of TransAlta Renewables in
2023.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">811</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Increase in borrowings under credit facilities
during 2024.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">189</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lower distributions paid to <FONT
STYLE="white-space:nowrap">non-controlling</FONT> interests.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">183</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Higher repurchases of common shares under the
NCIB.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(56</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lower repayments of long-term debt in 2024
compared to prior year.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">33</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">No long-term debt issued in
2024.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lower realized losses on financial
instruments.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow used in financing activities
for the year ended Dec. 31, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(291</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M58</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash used in financing activities for the year ended Dec. 31,
2023, increased compared with the same period in 2022, primarily due to the following: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="89%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year&nbsp;ended<BR>Dec. 31</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow from financing activities for the
year ended Dec. 31, 2022</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">45</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lower repayment of long-term debt due to the
repayment of US$400&nbsp;million senior notes in 2022.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">457</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Higher share capital issuance due to cash used
and shares issued to acquire TransAlta Renewables.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(811</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lower net increase in borrowings under credit
facilities.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(495</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lower issuance of long-term debt due to the
Company issuing US$400&nbsp;million senior notes in 2022.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(493</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lower realized gains on financial instruments due
to recognizing a gain on the repayment of US$400 million</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">senior notes in 2022.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(72</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Higher distributions paid to <FONT
STYLE="white-space:nowrap">non-controlling</FONT> interests.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Higher repurchases of common shares under the
NCIB.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow used in financing activities
for the year ended Dec. 31, 2023</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1,432</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M59</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_16"></A>Other Consolidated Analysis </B></FONT></P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Unconsolidated Structured Entities or Arrangements </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Disclosure is required of all unconsolidated structured entities or arrangements such as transactions, agreements or contractual
arrangements with unconsolidated entities, structured finance entities, special purpose entities or variable interest entities that are reasonably likely to materially affect liquidity or the availability of, or requirements for, capital resources.
We currently have no such unconsolidated structured entities or arrangements. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Related-Party Transactions </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In the normal course of operations, we enter into transactions on market terms with related parties, including consolidated and
equity accounted entities, which have been measured at exchange value and are recognized in the consolidated financial statements, including, but not limited to asset management fees, power purchase and derivative contracts. Refer to Note 36,
Related-Party Transactions in the consolidated financial statements for further details.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Guarantee Contracts </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have 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 Dec. 31, 2024, we provided letters of credit totalling
$865&nbsp;million (2023 &#8211; $782 million) and cash collateral of $124&nbsp;million (2023 &#8211; $145 million). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These letters of credit and cash collateral secure certain amounts included on our Consolidated Statements of Financial Position
under risk management liabilities, defined benefit obligations and other long-term liabilities and decommissioning and other provisions. The increase in the amount of letters of credit issued during 2024 relates to higher physical and financial
derivative transactions in a net liability position and additions of new letters of credit issued from the acquisition of Heartland.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Commitments </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Contractual commitments are as follows: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="56%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2026</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2027</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2028</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2029</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2030 and<BR>thereafter</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Natural gas and transportation contracts<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8194;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8194;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8194;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">66</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8194;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">64</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8194;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">425</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">763</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8194;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Transmission<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">105</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">190</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Coal supply
agreements<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term service
agreements<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">47</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">151</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">358</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Operating
leases<SUP STYLE="font-size:75%; vertical-align:top">(1,2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term
debt<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">566</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">169</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">331</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">309</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">824</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,493</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,692</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Exchangeable
securities<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">750</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">750</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Principal payments on lease liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">127</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">151</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on long-term debt and lease liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(1)(5)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">205</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">178</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">169</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">151</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">136</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">649</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,488</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on exchangeable securities<SUP
STYLE="font-size:75%; vertical-align:top">(1,4)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">223</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Growth<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,112</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>549</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>697</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>626</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,069</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,722</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>7,775&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Not recognized as a financial liability on the Consolidated Statements of Financial Position and
excludes the impact of interest rate hedges. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes leases that have not been recognized as a lease liability and leases that have not yet
commenced. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Excludes impact of hedge accounting and derivatives. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The exchangeable debentures are due May&nbsp;1, 2039 and the exchangeable preferred shares are
perpetual. However, a cash payment could occur after Dec. 31, 2028, at the Company&#8217;s option, if the exchangeable securities are not exchanged by Brookfield Renewable Partners or its affiliates (collectively Brookfield). At Brookfield&#8217;s
option, the exchangeable securities are currently exchangeable into an equity ownership interest in TransAlta&#8217;s Alberta Hydro Assets. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Interest on long-term debt is based on debt currently in place with no assumption as to
refinancing on maturity. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M60</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Contingencies </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company conducts internal reviews of its offers and offer behaviour in both the energy and ancillary services markets in Alberta
on an ongoing basis and will self-report suspected contraventions or respond to inquiries from regulatory agencies as required. There currently is no certainty that any particular matter will be resolved in the Company&#8217;s favour or that such
matters may not have a material adverse effect on TransAlta. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Brazeau Facility &#8212; Well Licence Applications to Consider
Hydraulic Fracturing Activities </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Alberta Energy Regulator (AER) issued a subsurface order on May&nbsp;27, 2019,
which does not permit any hydraulic fracturing within three kilometres of the Brazeau facility, but permits hydraulic fracturing in all formations (except the Duvernay) within three to five kilometres of the Brazeau facility. Subsequently, two oil
and gas operators submitted applications to the AER for 10 well licences (which include hydraulic fracturing activities) within three to five kilometres of the Brazeau facility. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s position, based on independent expert analysis commissioned by the Government of Alberta, is that hydraulic
fracturing activities within five kilometres of the Brazeau facility pose an unacceptable risk and that the applications should be denied. The regulatory hearing to consider these applications - Proceeding 379 - has been adjourned to November 2025.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Brazeau Facility - Claim Against the Government of Alberta </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Sept. 9, 2022, the Company filed a Statement of Claim against the Government of Alberta in the Alberta Court of King&#8217;s
Bench seeking a declaration that: (a)&nbsp;granting mineral leases within five kilometres of the Brazeau facility is a breach of a 1960 agreement between the Company and the Alberta Government; and (b)&nbsp;the Government of Alberta is required to
indemnify the Company for any costs or damages that result from the risks of hydraulic fracturing near the Brazeau facility. On Sept. 29, 2022, the Government of Alberta filed its Statement of Defence, which asserts, among other things, that the
Company: (a)&nbsp;is trying to usurp the jurisdiction of the AER; and (b)&nbsp;is out of time under the <I>Limitations Act </I>(Alberta). The
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
trial is scheduled to be heard in September or October 2025 in the event the parties are unable to resolve the dispute prior to such date. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Garden Plain </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Garden Plain I LP, a wholly-owned subsidiary of the Company, retained a third-party contractor to construct the Garden Plain wind
project near Hanna, Alberta. The contractor experienced scheduling delays, challenges with construction and significant cost overruns, resulting in overdue deadlines, and has asserted a claim for $53&nbsp;million in damages. The Company disputes
this claim in its entirety and asserts a counterclaim. The parties have initiated the dispute resolution procedure with an arbitration hearing scheduled for three weeks starting April&nbsp;14, 2025. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sundance A Decommissioning </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta filed an application with the Alberta Utilities Commission seeking payment from the Balancing Pool for TransAlta&#8217;s decommissioning costs for Sundance A, including its proportionate share of the Highvale mine. The
application was heard by Alberta Utilities Commission in the first quarter of 2024. A decision was rendered on Dec. 9, 2024, which directed the Balancing Pool to pay TransAlta $9&nbsp;million, being the shortfall of decommissioning costs of Sundance
A from previously collected amounts under the Power Purchase Arrangement Regulation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Brazeau &#8212; Spinning Reserve Self-Report
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Nov. 30, 2022, TransAlta self-reported to the Market Surveillance Administrator (MSA) a potential violation of
the Independent System Operator rules relating to offers of active spinning reserves at Brazeau when it was not properly configured to do so between Aug. 13, 2021, and Nov. 1, 2022. In 2022 a provision of $20&nbsp;million was initially recognized in
revenue reflecting a potential disgorgement of revenue and $2&nbsp;million for potential penalties and fines. On Nov. 29, 2024, the MSA issued penalties to TransAlta for this self-report and TransAlta made a payment of $33&nbsp;million in January
2025. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M61</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_17"></A>Financial Instruments </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Financial instruments are used for proprietary trading purposes and to manage our
exposure to interest rates, commodity prices and currency fluctuations, as well as other market risks. We may currently use physical and financial swaps, forward sale and purchase contracts, futures contracts, foreign exchange contracts, interest
rate swaps and options to achieve our risk management objectives. Some of our physical commodity contracts have been entered into and are held for the purposes of meeting our expected purchase, sale or usage requirements and, as such, are not
considered financial instruments, and are not recognized as a financial asset or financial liability. Other physical commodity contracts that are not held for normal purchase or sale requirements, and derivative financial instruments are recognized
on the Consolidated Statements of Financial Position and are accounted for using the fair value method of accounting. The initial recognition of fair value and subsequent changes in fair value can affect reported earnings in the period when the
change occurs if hedge accounting is not elected. Otherwise, changes in fair value will generally not affect earnings until the financial instrument is settled. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Some of our financial instruments and physical commodity contracts qualify for, and are recorded under, hedge accounting rules. The
accounting for those contracts, for which we have elected to apply hedge accounting, depends on the type of hedge. Our financial instruments are mainly used for cash flow hedges or <FONT STYLE="white-space:nowrap">non-hedges.</FONT> These categories
and their associated accounting treatments are explained in further detail below. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For all types of hedges, we test for
effectiveness at the end of each reporting period to determine if the instruments are performing as intended and hedge accounting can still be applied. The financial instruments we enter into are designed to ensure that future cash inflows and
outflows are predictable. In a hedging relationship, the effective portion of the change in the fair value of the hedging derivative does not impact net earnings (loss), while any ineffective portion is recognized in net earnings (loss). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have certain contracts in our portfolio that, at their inception, do not qualify for, or we have chosen not to elect to apply,
hedge accounting. For these contracts, we recognize in net earnings (loss) <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains and losses resulting from changes in forward prices compared to the price
at which these contracts were transacted. These changes in price alter the timing of earnings recognition, but do not necessarily determine the final settlement amount received. The fair value of future contracts will continue to fluctuate as market
prices change. The fair value of derivatives that are not traded on an active exchange, or extend beyond the time period for which exchange-based quotes are available, are determined using valuation techniques or models.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Cash Flow Hedges </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash flow hedges are categorized as project, foreign exchange, interest rate or commodity hedges and are used to offset foreign
exchange, interest rate and commodity price exposures resulting from market fluctuations. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Foreign currency forward
contracts and cross-currency swaps may be used to hedge foreign exchange exposures resulting from anticipated contracts and firm commitments denominated in foreign currencies, primarily related to capital expenditures and currency exposures related
to U.S. dollar denominated debt. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Physical and financial swaps, forward sale and purchase contracts, futures contracts
and options may be used primarily to offset the variability in future cash flows caused by fluctuations in electricity and natural gas prices. Interest rate swaps may be used to convert the fixed interest cash flows related to interest expense on
debt to floating rates and vice versa. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In a cash flow hedge, changes in the fair value of the hedging instrument (a
forward contract or financial swap, for example) are recognized in risk management assets or liabilities and the related gains or losses are recognized in other comprehensive income or loss (OCI). These gains or losses are subsequently reclassified
from OCI to net earnings (loss) in the same period as the hedged forecast cash flows impact net earnings (loss) and offset the losses or gains arising from the forecast transactions. For project hedges, the gains and losses reclassified from OCI are
included in the carrying amount of the related PP&amp;E. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Hedge accounting follows a principles-based approach for
qualifying hedges that is aligned with an entity&#8217;s approach to risk management. When we do not elect hedge accounting or when the hedge is no longer effective and does not qualify for hedge accounting, the gains or losses as a result of
changes in prices, interest or exchange rates related to these financial instruments are recorded in net earnings (loss) in the period in which they arise. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>Net Investment Hedges </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Foreign-denominated long-term debt is used to hedge exposure to changes in
the carrying values of our net investments in foreign operations that have a functional currency other than the Canadian dollar. Our net investment hedges using U.S. dollar denominated debt remain effective and in place. Gains or losses on these
instruments are recognized and deferred in OCI and reclassified to net earnings on the disposal of the foreign operation. We also manage foreign exchange risk by matching foreign-denominated expenses with revenues,
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M62</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">such as offsetting revenues from our U.S. operations with interest payments on our
U.S. dollar denominated debt. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Non-Hedges </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Financial instruments not designated as hedges are used for proprietary trading and to reduce commodity price, foreign exchange and
interest rate risks. Changes in the fair value of financial instruments not designated as hedges are recognized in risk management assets or liabilities and the related gains or losses are recognized in net earnings (loss) in the period in which the
change occurs. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Fair Values </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The majority of fair values for our foreign exchange, interest rate, commodity hedges and
<FONT STYLE="white-space:nowrap">non-hedge</FONT> derivatives are calculated using adjusted quoted prices from an active market or inputs validated by broker quotes. We may enter into commodity transactions involving
<FONT STYLE="white-space:nowrap">non-</FONT> standard features for which market-observable data is not available. These transactions are defined under IFRS as Level III instruments. Level III instruments incorporate inputs that are not observable
from the market and fair value is therefore determined
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
using valuation techniques. Fair values are validated by using reasonably possible alternative assumptions as inputs to valuation techniques and any material differences are disclosed in the
notes to the consolidated financial statements. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Dec. 31, 2024, Level III instruments had a net liabilities carrying
value of $234&nbsp;million (2023 &#8211; net liabilities $147 million). The Level III liabilities increased in 2024 primarily due to market price changes and the addition of contingent consideration related to the Planned Divestitures from the
acquisition of Heartland, offset by contract settlements in the year. Our risk management profile and practices have not changed materially from Dec. 31, 2023. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Refer to the Material Accounting Policies and Critical Accounting Estimates section of this MD&amp;A for further details regarding
valuation techniques. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M63</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_18"></A>Additional IFRS Measures and <FONT
STYLE="white-space:nowrap">Non-IFRS</FONT> Measures </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">An additional IFRS measure is a line item, heading or subtotal that is relevant to an
understanding of the 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 Consolidated Statements of Earnings (Loss) for the years ended Dec. 31, 2024, 2023 and 2022. Presenting these
line items provides management and investors with a measurement of ongoing operating performance that is readily comparable from period to period. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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 <FONT STYLE="white-space:nowrap">non-IFRS</FONT> basis, as described below. Unless otherwise indicated, all amounts are in Canadian dollars and have been derived from our consolidated financial statements prepared
in accordance with IFRS. We believe that these <FONT STYLE="white-space:nowrap">non-IFRS</FONT> amounts, measures and ratios, read together with our IFRS amounts, provide readers with a better understanding of how management assesses results.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-IFRS</FONT> 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, as an alternative to, or more meaningful than, our IFRS results. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B><FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Financial Measures </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA, FFO, FCF, Adjusted gross margin, total consolidated net debt and adjusted net debt are <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures that are presented in this MD&amp;A. This section provides additional information in respect of such <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures, including a reconciliation of such <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures to the most comparable IFRS measure. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted EBITDA </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Each business segment assumes responsibility for its operating results measured by adjusted EBITDA. Adjusted EBITDA is an important
metric for management that represents our core operational results. In the fourth quarter of 2024, our adjusted EBITDA composition was adjusted to exclude the impact of the Brazeau penalties assessed, the Sundance A decommissioning cost
reimbursement, the ERP integration costs, revenues and expenses of the Planned Divestitures and Acquisition related and integration costs associated with the Heartland acquisition as these transactions are not reflective of ongoing operations or
performance of our operating assets. Accordingly, the
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
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&#8217;
analysis of trends. The most directly comparable IFRS measure is earnings before income taxes. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following are
descriptions of the adjustments made. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjustments to Revenue </B></FONT></P>
<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Adjusted EBITDA is adjusted to exclude the impact of unrealized <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains or losses and unrealized foreign exchange gains or losses on commodity transactions. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Adjustments are made for gains and losses related to closed positions effectively settled by
offsetting positions with exchanges that have been recorded in the period the positions are settled. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Certain assets that we own in Canada and in Western Australia are fully contracted and recorded as
finance leases under IFRS. We believe that 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></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Brazeau penalties are issued by the Alberta Market Surveillance Administrator for self-reported
contraventions pertaining to Hydro ancillary services provided during 2021 and 2022. The penalties have been excluded and does not represent ongoing performance. In 2022 a provision of $20&nbsp;million was initially recognized in revenue reflecting
a potential disgorgement of revenue and $2&nbsp;million for potential penalties and fines. The final assessment contained no disgorgement of revenue and penalties of $33&nbsp;million. This resulted in a reversal of the original disgorgement
provision in revenue in the year ended Dec. 31, 2024 and recognition of the full amount of the penalties assessed in OM&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Revenues from the Planned Divestitures are not included as they do not reflect ongoing business
performance. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjustments to Fuel and Purchased Power </B></FONT></P>
<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">On the commissioning of the South Hedland facility in July 2017, we prepaid approximately
$74&nbsp;million of electricity transmission and distribution costs. Interest income is recorded on the prepaid funds. We reclassify this interest income as a reduction in the transmission and distribution costs expensed each period to reflect the
net cost to the business. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M64</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Fuel and purchased power from the Planned Divestitures is not included as it does not reflect
ongoing business performance. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjustments to OM&amp;A </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Acquisition-related transaction and restructuring costs, mainly comprising severance, legal and
consultant fees, are not included as these do not reflect ongoing business performance. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Brazeau penalties are issued by the Alberta Market Surveillance Administrator for self-reported
contraventions pertaining to Hydro ancillary services provided during 2021 and 2022. The penalties have been excluded as it does not represent ongoing performance. The provision was initially recognized in 2022 based on an estimate and revised in
2024 based on the actual resolution of the matter. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">ERP integration costs representing planning and design of upgrades to the existing ERP system in
2024 are not included as they represent project costs that do not occur on a regular basis and therefore, do not reflect ongoing performance. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjustments to Net Other Operating Income </B></FONT></P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Sundance A decommissioning cost reimbursement in 2024 is not included as it relates to a
settlement of a contingency for a facility that is no longer in operation. Refer to Note 8 from our consolidated financial statements for further details. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Insurance recoveries related to the Kent Hills tower collapse in 2023 and 2022 are not included as
these relate to investing activities and are not reflective of ongoing business performance. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An onerous contract provision for future royalty payments recognized with the shutdown of the
Highvale mine is excluded in 2022 as these are not part of operating income. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Contract termination penalties in 2022 as a result of the Company&#8217;s Clean Energy Transition
plan are not included. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjustments to Earnings (Loss) in Addition to Interest, Taxes, Depreciation and
Amortization </B></FONT></P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Asset impairment charges and reversals are not included as these are accounting adjustments that
impact depreciation and amortization and do not reflect ongoing business performance. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Any gains or losses on asset sales or foreign exchange gains or losses are not included as these
are not part of operating income. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjustments for Equity-Accounted Investments </B></FONT></P>
<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">During the fourth quarter of 2020, we acquired a 49&nbsp;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.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left" COLOR="#636466">&nbsp;</TD>
<TD WIDTH="1">&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">
As this investment is part of our regular power- generating operations, we have included our proportionate share of the adjusted EBITDA of the Skookumchuck wind facility in our total adjusted
EBITDA. In addition, in the Wind and Solar 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 EMG International, LLC&#8217;s adjusted
EBITDA in our total adjusted EBITDA as it does not represent our regular power- generating operations. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Average
Annual EBITDA </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Average annual EBITDA is a forward-looking <FONT STYLE="white-space:nowrap">non-IFRS</FONT> financial
measure that is used to show the average annual EBITDA that the project is expected to generate. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Funds From Operations (FFO)
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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 <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure. For a description of the adjustments made to Cash Flow from
Operations (the most directly comparable IFRS measure) to calculate FFO, see the tables on pages M70 and M74. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjustments to Cash
Flow from Operations </B></FONT></P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">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></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Payments received on finance lease receivables are reclassified to reflect cash from operations.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">We adjust for items within the Energy Transition segment that may not be reflective of ongoing
operations including certain costs related to decisions made to accelerate our transition <FONT STYLE="white-space:nowrap">off-coal</FONT> in Alberta and our planned transition <FONT STYLE="white-space:nowrap">off-coal</FONT> for Centralia. These
are included in the &#8220;Clean energy transition provisions and adjustments&#8221; in the reconciliation. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Sundance A decommissioning cost reimbursement in 2024 is not included as it relates to a settlement
of a contingency for a facility that is no longer in operation. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Cash received/paid on closed positions are reflected in the period that the position is settled.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">We adjust for costs associated with acquisition-related transactions or restructuring and that are
not reflective of ongoing operations. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other adjustments include payments/receipts for production tax credits, which are reductions to tax
equity </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M65</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left" COLOR="#636466">&nbsp;</TD>
<TD WIDTH="1">&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">debt and include distributions from equity-accounted joint ventures. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Free Cash Flow (FCF) </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">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 <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measure. For a description of the adjustments made to Cash Flow from Operations (the most directly comparable IFRS measure) to calculate FCF, see the tables on pages M70 and M74. </FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted Gross Margin </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Adjusted gross margin is calculated as adjusted revenues less adjusted fuel and purchased power and carbon compliance costs, where adjustments to revenue or fuel and purchased power were applied as stated above. The Skookumchuck
wind facility has been included on a proportionate basis in the Wind and Solar segment. The most directly comparable measure is gross margin in the consolidated statement of earnings.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B><FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Ratios </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">FFO per share, FCF per share and adjusted net debt to adjusted EBITDA are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> ratios
that are presented in the MD&amp;A. Refer to the Reconciliation of Cash Flow from Operations to FFO and FCF and Key <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Financial Ratios sections of this MD&amp;A for additional information. </FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>FFO per Share and FCF per Share </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">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 are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> ratios.
</FONT></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Supplementary Financial Measures </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Sustaining capital expenditures and growth and development expenditures are supplementary financial measures used to present our
spend related to facilitate safe and reliable operation of our existing facilities and the construction of projects, respectively. Refer to the Capital Expenditures section of this MD&amp;A for additional information. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Alberta electricity portfolio metrics disclosed are supplementary financial measures used to present the gross margin by segment
for the Alberta market. Refer to the Alberta Portfolio section of this MD&amp;A for additional information. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M66</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Full-Year Reconciliation of
<FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures on a Consolidated Basis by Segment </B></FONT></P> <P STYLE="margin-top:9pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table
reflects adjusted EBITDA by segment and provides reconciliation to earnings before income taxes for the year ended Dec. 31, 2024: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6pt" ALIGN="center">


<TR>

<TD WIDTH="39%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Reclass</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>adjustments</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>IFRS</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>financials</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>409</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>357</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,350</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>616</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>168</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,866</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(21</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,845</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> (gain)</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>84</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(60</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(36</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="middle" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Realized gain (loss) on closed</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">exchange positions</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(15</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="middle" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(21</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Revenues from Planned Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Brazeau penalties</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="middle" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange loss</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">on commodity</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Adjusted revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>390</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>449</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,321</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>582</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>167</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,875</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(21</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,845</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>475</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>418</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>939</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>939</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="middle" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power related</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">to Planned Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Australian interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Adjusted fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>470</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>418</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>934</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>939</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>145</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>112</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>112</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Gross margin</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>374</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>419</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>706</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>163</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>167</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,829</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(21</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,794</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>86</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>198</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>69</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>173</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>659</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>655</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Brazeau penalties</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">ERP integration costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="middle" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">and restructuring costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(24</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(24</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="middle"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="middle"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Adjusted OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>198</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>69</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>135</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>590</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>69</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>655</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(59</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(59</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="middle" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Sundance A decommissioning</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">cost reimbursement</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="13" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="middle"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Adjusted net other operating</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" ALIGN="right"><FONT COLOR="#636466"><B>(50</B></FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="middle" ALIGN="right"><FONT COLOR="#636466"><B>(59</B></FONT></TD>
<TD NOWRAP VALIGN="middle"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>316</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>316</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>535</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>91</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>131</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>(136</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>1,253</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Equity income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(531</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(46</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(324</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange gain</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and&nbsp;other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="5" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:6pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Earnings before income taxes</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS and may not be
comparable to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M67</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table reflects adjusted EBITDA by segment and
provides reconciliation to earnings before income taxes for the year ended Dec. 31, 2023: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="39%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Reclass</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>adjustments</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>IFRS</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>financials</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">533</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">357</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,514</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">751</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">220</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,376</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(21</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,355</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized <FONT STYLE="white-space:nowrap">mark-to-</FONT></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">market loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(67</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(37</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">37</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Realized gain (loss) on</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">closed exchange positions</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(91</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(81</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(55</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">exchange gain</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT
 COLOR="#636466">on&nbsp;commodity</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">529</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">373</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,525</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">746</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">152</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,326</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(21</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,355</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">453</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">557</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,060</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,060</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Australian interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted fuel and purchased</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">449</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">557</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,056</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,060</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">112</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">112</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">112</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Gross margin</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">510</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">343</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">964</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">189</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">152</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,158</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(21</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,183</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">192</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">64</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">115</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">542</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">539</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(40</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(47</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(47</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Insurance recovery</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted net other</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">operating income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(40</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(46</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(47</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">459</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">257</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">801</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">122</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">109</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(116</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,632</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Equity income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Depreciation and</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(621</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Asset impairment reversals</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">59</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(281</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange gain</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">and&nbsp;other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Earnings before income</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">taxes</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">880</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS and may not be
comparable to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M68</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table reflects adjusted EBITDA by segment and
provides reconciliation to earnings before income taxes for the year ended Dec. 31, 2022: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="38%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Reclass</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>adjustments</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>IFRS</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>financials</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">606</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">303</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,209</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">714</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">160</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,990</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,976</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">(gain)
loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">104</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">251</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">378</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(378</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Realized gain (loss) on</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">closed exchange positions</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">47</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(43</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">lease&nbsp;receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(46</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Brazeau penalties</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(20</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">gain on commodity</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">627</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">407</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,521</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">724</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">218</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,495</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(505</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,976</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">641</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">566</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,263</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,263</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Australian interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted fuel and</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">purchased&nbsp;power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">637</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">566</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,259</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,263</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">78</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">78</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Gross margin</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">605</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">375</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">801</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">159</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">218</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,158</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(509</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,635</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">195</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">101</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">523</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">521</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Brazeau penalties</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">195</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">101</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">521</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">521</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">33</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(23</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(38</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(61</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(58</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Royalty onerous contract and</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">contract termination</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:1.29em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">penalties</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted net other operating</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(16</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(38</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(54</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(58</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">549</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">311</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">629</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">86</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">183</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(102</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,656</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Equity income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(599</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(286</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange gain</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Earnings before income taxes</FONT></P></TD>

<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS and may not be
comparable to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During 2024 our adjusted EBITDA composition was amended to exclude the impact of Brazeau
penalties and related provisions. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M69</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Full-Year Reconciliation of Cash Flow from Operations to FFO and FCF
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The table below reconciles our cash flow from operating activities to our FFO and FCF: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="64%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024&#8194;&#8201;&#8196;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023&#8201;&#8196;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022&#8196;&#8201;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow from operating activities<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>796</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,464</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">877</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in
<FONT STYLE="white-space:nowrap">non-cash</FONT> operating working capital balances</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&#8194;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(124</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">316</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow from operations before changes in working
capital</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>758</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,340</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,193</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjustments</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Share of adjusted FFO from joint venture<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Clean energy transition provisions and adjustments<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Sundance A decommissioning cost reimbursement</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Realized gain (loss) on closed exchanged positions</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(81</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and restructuring costs</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FFO<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>810</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,351</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,346</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deduct:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Sustaining
capital<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(142</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(174</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(142</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&#8194;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Productivity capital</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dividends paid on preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(43</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Distributions paid to subsidiaries&#8217;
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(223</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(187</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Principal payments on lease
liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>569</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">890</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">961</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Weighted average number of common shares
outstanding in the period</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>302</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">276</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">271</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FFO per share<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2.68</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4.89</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4.97</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF per share<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.88</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3.22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3.55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes our share of amounts for the Skookumchuck wind facility, an equity-accounted joint
venture. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">2023 includes amounts related to onerous contracts recognized in 2021 and a voluntary
contribution to the U.S. Defined Benefit Pension Plan for the Centralia thermal facility. During 2022, to support the employees affected by the closure of the Highvale mine and our transition off coal to cleaner sources, the Company made a voluntary
special contribution of $35&nbsp;million to the Highvale mine pension plan. 2022 also includes amounts related to onerous contracts recognized in 2021. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other consists of production tax credits, which is a reduction to tax equity debt, less
distributions from an equity-accounted joint venture. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These items are not defined and have no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M70</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The table below provides a reconciliation of our adjusted
EBITDA to our FFO and FCF: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="63%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&ensp;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024&#8194;&#8201;&#8196;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023&#8201;&#8196;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP>&#8201;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,253</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,632</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,656</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Provisions</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net interest
expense<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(231</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&#8194;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(164</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(200</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&#8194;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current income tax expense</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Realized foreign exchange loss</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Decommissioning and restoration costs settled</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(41</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other <FONT STYLE="white-space:nowrap">non-cash</FONT> items</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FFO<SUP
STYLE="font-size:75%; vertical-align:top">(3)(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>810</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,351</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,346</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deduct:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Sustaining
capital<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(142</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(174</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(142</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Productivity capital</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dividends paid on preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(43</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Distributions paid to subsidiaries&#8217;
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(223</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(187</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Principal payments on lease
liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF<SUP
STYLE="font-size:75%; vertical-align:top">(3)(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>569</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">890</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">961</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is defined in the Additional IFRS Measures and
<FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A and reconciled to earnings (loss) before income taxes above. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net interest expense includes interest expense less interest income and excludes <FONT
STYLE="white-space:nowrap">non-cash</FONT> items like financing amortization and accretion. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These items are not defined and have no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. FFO and FCF are defined in the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A and reconciled to cash flow from operating activities
above. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes our share of amounts for the Skookumchuck wind facility, an equity-accounted joint
venture. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During 2024 our adjusted EBITDA composition was amended to exclude the impact of Brazeau
penalties and related provisions. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M71</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Fourth Quarter Reconciliation of
<FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures on a Consolidated Basis by Segment </B></FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table
reflects adjusted EBITDA by segment and provides reconciliation to earnings before income taxes for the three months ended Dec. 31, 2024: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">


<TR>

<TD WIDTH="42%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>IFRS&#8195;<BR>financials&#8195;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>93</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>104</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>155</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>685</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>678</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&#8194;&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT><BR>(gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(64</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Realized gains (losses) on<BR>closed exchange positions</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease&nbsp;receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Revenues from Planned Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Brazeau penalties</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange<BR>gain
on&nbsp;commodity</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>77</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>130</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>350</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>149</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>34</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>740</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(55</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>678</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>136</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>102</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>249</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>249</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power<BR>related to Planned Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Australian interest income</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted fuel and<BR>purchased&nbsp;power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>134</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>102</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>247</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>249</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Gross margin</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>74</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>122</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>177</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>47</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>34</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>454</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(57</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>390</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>47</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>67</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>68</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>235</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>234</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Brazeau penalties</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">ERP integration costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction<BR>and
restructuring costs</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>67</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>38</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>174</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>61</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>234</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income&nbsp;taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(22</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(22</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Sundance A decommissioning<BR>cost
reimbursement</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted net
other<BR>operating&nbsp;income</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(22</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>57</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>95</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>116</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(38</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>285</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Equity income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(143</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(92</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange gain</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466"><B>Loss before
income&nbsp;taxes</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(51</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS and may not be
comparable to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M72</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table reflects adjusted EBITDA by segment and
provides reconciliation to loss before income taxes for the three months ended Dec. 31, 2023: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">


<TR>

<TD WIDTH="36%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:2.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:2.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>IFRS&#8195;</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>financials&#8195;</B></FONT></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">77</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">94</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">246</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">175</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">631</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">624</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT><BR>(gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">59</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(59</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Realized gain on closed exchange positions</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(27</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(15</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange<BR>gain on
commodity</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">114</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">340</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">182</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">735</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(104</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">624</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">127</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">138</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">278</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">278</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Australian interest income</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted fuel and<BR>purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">126</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">138</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">277</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">278</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Gross margin</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">70</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">106</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">187</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">431</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(105</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">319</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">56</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">151</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">150</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&#8194;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.85em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Insurance recovery</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted net other
operating<BR>income</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">56</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">82</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">141</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(30</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">289</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Equity income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(132</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(66</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange loss</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.77em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Loss before income taxes</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined and has no standardized meaning under IFRS and may not be
comparable to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M73</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Fourth Quarter Reconciliation of Cash Flow from Operations to FFO and FCF
</B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The table below reconciles our cash flow from operating activities to our FFO and FCF: </FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="75%"></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&ensp;Three months ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024&#8201;&#8196;&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023&#8194;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow from operating activities<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>215</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">310</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in
<FONT STYLE="white-space:nowrap">non-cash</FONT> operating working capital balances</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&#8194;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(135</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow from operations before changes in working
capital</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">175</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjustments</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Share of adjusted FFO from joint venture<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Clean energy transition provisions and adjustments<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Sundance A decommissioning cost reimbursement</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Realized gain on closed exchanged positions</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and restructuring costs</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FFO<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>137</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">229</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deduct:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Sustaining
capital<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(67</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Productivity capital</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dividends paid on preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Distributions paid to subsidiaries&#8217;
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Principal payments on lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">121</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Weighted average number of common shares
outstanding in the period</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>298</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">308</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FFO per share<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.46</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF per share<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes our share of amounts for Skookumchuck, an equity-accounted joint venture. The amount for
the fourth quarter of 2023 was adjusted to conform to current period presentation. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes amounts related to onerous contracts recognized in 2021 and a voluntary contribution to
the U.S. Defined Benefit Pension Plan for the Centralia thermal facility. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other consists of production tax credits, which is a reduction to tax equity debt, less
distributions from the equity-accounted joint venture. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These items are not defined and have no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M74</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The table below provides a reconciliation of our adjusted
EBITDA to our FFO and FCF for the three months ended Dec 31. 2024 and 2023: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&ensp;Three months ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024&#8201;&#8196;&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023&#8194;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>285</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">289</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Provisions</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net interest
expense<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&#8194;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current income tax (expense) recovery</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Realized foreign exchange loss (gain)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Decommissioning and restoration costs settled</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other
<FONT STYLE="white-space:nowrap">non-cash</FONT> items</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FFO<SUP
STYLE="font-size:75%; vertical-align:top">(3)(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>137</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">229</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deduct:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Sustaining
capital<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(67</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Productivity capital</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dividends paid on preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Distributions paid to subsidiaries&#8217;
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Principal payments on lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF<SUP
STYLE="font-size:75%; vertical-align:top">(3)(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">121</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is defined in the Additional IFRS Measures and
<FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A and reconciled to earnings (loss) before income taxes above. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net interest expense includes interest expense less interest income and excludes <FONT
STYLE="white-space:nowrap">non-cash</FONT> items like financing amortization and accretion. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These items are not defined and have no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. FFO and FCF are defined in the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A and reconciled to cash flow from operating activities
above. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes our share of amounts for the Skookumchuck wind facility, an equity-accounted joint
venture. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M75</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_19"></A>Key
<FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Financial Ratios </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Adjusted Net Debt to
Adjusted EBITDA </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="62%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&ensp;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024&#8195;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022&#8194;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Credit facilities, long-term debt and lease liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,808</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,466</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,653</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Exchangeable debentures</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>350</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">344</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">339</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Less: Cash and cash
equivalents<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(336</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&#8194;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(345</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1,118</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Add: 50&nbsp;per cent of issued preferred shares and exchangeable
preferred&nbsp;shares<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">671</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">671</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(20</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted net debt<SUP
STYLE="font-size:75%; vertical-align:top">(5)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,469</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4,124</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,525</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(6)(7)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,253</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,632</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,656</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted net debt to adjusted EBITDA
(times)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2.1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Consists of current and <FONT STYLE="white-space:nowrap">non-current</FONT> portions of long-term
debt, which includes lease liabilities and tax equity financing. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Cash and cash equivalents, net of bank overdraft. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">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 consolidated financial statements. For purposes of this ratio, we consider 50&nbsp;per cent of issued preferred shares, including these, as debt.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes principal portion of TransAlta OCP restricted cash ($17&nbsp;million for 2024, 2023 and
2022) and fair value of hedging instruments on debt (included in risk management assets and/or liabilities on the Consolidated Statements of Financial Position). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The tax equity financing for the Skookumchuck wind facility, an equity-accounted joint venture,
is not represented in this amount. Adjusted net debt is not defined and has no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. 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. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(6)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Last 12 months. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(7)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During 2024 our adjusted EBITDA composition was amended to exclude the impact of Brazeau
penalties and related provisions. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A.
</FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s capital is managed using a net debt position. We use the adjusted
net debt to adjusted EBITDA ratio as a measurement of financial leverage and to assess our ability to service debt. Our target for adjusted net debt to adjusted EBITDA is 3.0 to 4.0 times. Our adjusted net debt to adjusted
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
EBITDA ratio for Dec. 31, 2024 was higher compared to Dec. 31, 2023, due to higher adjusted net debt resulting from the assumption of Heartland debt, lower cash balances due to cash paid to
acquire Heartland on Dec. 4, 2024 and lower adjusted EBITDA in 2024 compared to 2023. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M76</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_20"></A>2025 Outlook </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For 2025, the Company expects adjusted EBITDA to be in the range of $1.15 to
$1.25&nbsp;billion and FCF to be in the range of $450 to $550&nbsp;million which is based on the following: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher contribution from the wind and solar portfolio due to a full-year impact of new asset
additions of the White Rock and Horizon Hill wind facilities; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Contribution from assets acquired with Heartland; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower contributions from the legacy merchant hydro, wind and gas assets in Alberta which are
expected to
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left" COLOR="#636466">&nbsp;</TD>
<TD WIDTH="1">&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">
step down due to lower expected average power prices in Alberta given baseload gas and renewables supply additions in late 2024 and 2025; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower current income tax expense in 2025 compared to 2024 actual; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466">&#149;</FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increased net interest expense in 2025 as a result of the Heartland acquisition and lower interest
income earned on lower cash deposits and lower capitalized interest on growth projects. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table outlines our expectations on key financial targets and related assumptions for 2025 and should be read in conjunction with the narrative discussion that follows and the Governance and Risk Management section of this MD&amp;A: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="28%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&ensp;Measure</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025 Target</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024 Target</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024 Actual</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$1,150 to $1,250&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$1,150 to $1,300&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$1,253&nbsp;million</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">FCF<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$450 to $550&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$450 to $600&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$569&nbsp;million</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">FCF per share</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$1.51 to $1.85</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$1.47 to $1.96</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$1.88</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dividend per share</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$0.26 annualized</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$0.24 annualized</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$0.24&nbsp;annualized</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These items are not defined and have no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. Refer to the Reconciliation of <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;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 <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s outlook for 2025 may be impacted by a number of factors as detailed further below. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Range of key 2025 power and gas price assumptions </B></FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="28%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&ensp;Market</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025 Assumptions</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024 Assumptions</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024&nbsp;Actual</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alberta spot ($/MWh)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$40 to $60</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$75 to $95</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$63</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Mid-Columbia</FONT> spot
(US$/MWh)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">US$50 to US$70</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">US$85 to US$95</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">US$76</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">AECO gas price ($/GJ)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$1.60 to $2.10</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$2.50 to $3.00</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$1.29</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Alberta spot price sensitivity: a +/- $1 per MWh change in spot price is expected to have a
+/-$3&nbsp;million impact on adjusted EBITDA for 2025. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Other assumptions relevant to the 2025 outlook </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="30%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="26%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&ensp;Measure</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025 Expectations</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024 Expectations</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024&nbsp;Actual</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Energy Marketing gross margin</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$110 to $130&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$110 to $130&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$167&nbsp;million</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Sustaining capital</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$145 to $165&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$130 to $150&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$142&nbsp;million</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current income tax expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$95 to $130&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$95 to $130&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">$143&nbsp;million</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net interest expense</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$255 to $275&nbsp;million</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$240 to $260&nbsp;million</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$231&nbsp;million</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M77</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Alberta Hedging </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="42%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&ensp;Range of hedging assumptions</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q1&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q2&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q3&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q4&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2026</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hedged production (GWh)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2,117</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,758</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,942</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,845</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4,713</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hedge price ($/MWh)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">$72</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">$70</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">$70</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">$70</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">$75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hedged gas volumes (GJ)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">14&nbsp;million</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6&nbsp;million</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6&nbsp;million</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6&nbsp;million</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">18&nbsp;million</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hedge gas prices ($/GJ)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">$2.98</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">$3.63</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">$3.77</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">$3.65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">$3.67</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Market Pricing </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following graphs include 2025 pricing based on a range of assumptions and are subject to change: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><FONT COLOR="#171a5f"><B>Annual Average Spot Electricity Prices</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><FONT COLOR="#171a5f"><B>Annual Average Gas (AECO) Prices</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:10pt">
<TD VALIGN="top" ALIGN="center">


<IMG SRC="g938159g85g01.jpg" ALT="LOGO" STYLE="width:3.05556in;height:1.46075in;">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">


<IMG SRC="g938159g85g02.jpg" ALT="LOGO" STYLE="width:3.05556in;height:1.13975in;">
</TD></TR>
</TABLE>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For 2025, spot electricity prices in Alberta are expected to be lower compared to
2024, driven by normalized weather expectations and the addition of new natural gas and cogeneration, and wind and solar supply. Spot electricity prices in the Pacific Northwest are expected to be comparable in 2025, but will depend on natural gas
prices and the actual hydrology for the region during the year. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">AECO natural gas prices are expected to be higher than
in 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The objective of our portfolio management strategy in Alberta is to balance opportunity and risk and to deliver
optimization strategies that contribute to our total
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
investment, which includes a return on invested capital. We can be more or less hedged in a given period, and we expect to realize our annual targets through a combination of forward hedging and
selling generation into the spot market. The assets within the Alberta electricity portfolio are managed as a portfolio to maximize the overall value of generation and capacity from our hydro, wind, energy storage and thermal facilities. Hedging is
a key component of cash flow certainty and the hedges are primarily tied to our portfolio of gas facilities and also allocated to our portfolio of hydro facilities rather than a single facility.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M78</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustaining Capital Expenditures </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our estimate for total sustaining capital is as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="64%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#171a5f"><B>Spent&nbsp;in&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#171a5f"><B>Expected&nbsp;spend&nbsp;in&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.56em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total sustaining capital</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">$142&nbsp;million</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">$145&nbsp;to&nbsp;$165&nbsp;million</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company expects sustaining capital to be in the range of $145 to
$165&nbsp;million. The midpoint for the range represents an 11&nbsp;per cent increase from the midpoint of the 2024 expected sustaining capital range of $130 to $150&nbsp;million, and a nine per cent increase from 2024 sustaining capital spend. This
is driven by increased Hydro dam safety spending and the additional capital requirements to support Heartland gas facilities, offset by lower sustaining capital expenditures for planned major maintenance related to our other gas facilities and lower
sustaining </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">capital from our Energy Transition segment as 2025 is our Centralia plant&#8217;s
final year of coal-fired generation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Liquidity and Capital Resources </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We maintain adequate available liquidity under our committed credit facilities. As at Dec. 31, 2024, we had access to
$1.6&nbsp;billion in liquidity, including $336&nbsp;million in cash, which exceeds the funds required for committed growth, sustaining capital and productivity projects.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_21"></A>Material Accounting Policies and Critical Accounting Estimates </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The selection and application of accounting policies is an important process that has
developed as our business activities have evolved and as accounting rules and guidance have changed. Accounting rules generally do not involve a selection among alternatives, but involve the implementation and interpretation of existing rules and
the use of judgment relative to the circumstances existing in the business. Every effort is made to comply with all applicable rules on or before the effective date and we believe the proper implementation and consistent application of accounting
rules is critical. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">However, not all situations are specifically addressed in the accounting literature. In these cases,
our best judgment is used to adopt a policy for accounting for these situations. We draw analogies to similar situations and the accounting guidelines governing them, consider foreign accounting standards and consult with our independent auditors
about the appropriate interpretation and application of these policies. Each of the critical accounting policies involves complex situations and a high degree of judgment either in the application and interpretation of existing literature or in the
development of estimates that impact our consolidated financial statements. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our material accounting policies are
described in Note 2 of the consolidated financial statements. Each policy involves a number of estimates and assumptions to be made about matters that are uncertain at the time the estimate is made. Different estimates, with respect to key variables
used for the calculations, or changes to estimates, could potentially have a material impact on our financial position or results of operations. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have discussed the development and selection of these critical accounting estimates with the Audit, Finance and Risk Committee
(AFRC) of the Board of Directors and our independent auditors. The AFRC has reviewed and
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
approved our disclosure relating to critical accounting estimates in this MD&amp;A. These critical accounting estimates are described as follows: </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Tariff </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On
Feb. 1, 2025, the President of the United States issued three executive orders directing the United States to impose new tariffs on imports originating from Canada, Mexico and China. These orders call for additional 25&nbsp;per cent duty on imports
into the United States of Canadian- origin and Mexican-origin products and 10&nbsp;per cent duty on Chinese-origin products, except for Canadian energy resources that are subject to an additional 10&nbsp;per cent duty. On Feb. 3, 2025, a <FONT
STYLE="white-space:nowrap">30-day</FONT> pause on potential tariffs was implemented. The actual tariffs and their impacts to the Company remain uncertain. The Company is assessing the direct and indirect impacts to its business of such tariffs,
retaliatory tariffs or other trade protectionist measures implemented as this situation develops. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Revenue Recognition
</B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Revenue from Contracts with Customers </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Identification of Performance Obligations </B></FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Where contracts contain multiple promises for goods or services, management exercises judgment in determining whether goods or
services constitute distinct goods or services or a series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer. The determination of a performance obligation affects whether the
transaction price is recognized at a point in time or over time. Management considers both the mechanics of the contract and the economic and operating environment of the
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M79</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">contract in determining whether the goods or services in a contract are distinct.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Transaction Price </B></FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">In determining the transaction price and estimates of variable consideration, management considers the past history of customer usage and capacity requirements when estimating the goods and services to be provided to the customer.
The Company also considers the historical production levels and operating conditions for its variable generating assets. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Allocation
of Transaction Price to Performance Obligations </B></FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">When multiple performance obligations are present in a contract,
transaction price is allocated to each performance obligation in an amount that depicts the consideration the Company expects to be entitled to in exchange for transferring the good or service. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s contracts generally outline a specific amount to be invoiced to a customer associated with each performance
obligation in the contract. Where contracts do not specify amounts for individual performance obligations, the Company estimates the amount of the transaction price to allocate to individual performance obligations based on their standalone selling
price, which is primarily estimated based on the amounts that would be charged to customers under similar market conditions. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Satisfaction of Performance Obligations </B></FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The satisfaction of performance obligations requires management to use judgment as to when control of the underlying good or service
transfers to the customer. Determining when a performance obligation is satisfied affects the timing of revenue recognition. Management considers both customer acceptance of the good or service and the impact of laws and regulations such as
certification requirements in determining when this transfer occurs. Management also applies judgment to determine whether the invoice practical expedient permits recognition of revenue at the invoiced amount if that invoiced amount corresponds
directly with the entity&#8217;s performance to date. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Revenue from Other Sources </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Revenue from Derivatives </B></FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Commodity risk management activities involve the use of derivatives such as physical and financial swaps, forward sales contracts, futures contracts and options that are used to earn revenues and to gain market information. These
derivatives are accounted for using fair value accounting. The determination of the fair value of commodity risk management contracts and derivative instruments is complex and relies on judgments concerning future prices, volatility and liquidity,
among other factors. Some of our derivatives are not traded on an active exchange or extend beyond the time period for which exchange-based quotes are available, requiring us to
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
use internal valuation techniques or other models such as numerical derivative valuation or scenario analysis. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Merchant Revenue </B></FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Revenues from <FONT STYLE="white-space:nowrap">non-contracted</FONT> capacity (i.e., merchant) are composed of energy payments, at market price, for each MWh produced and are recognized upon delivery. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Financial Instruments </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair values can be
determined by reference to prices for instruments in active markets to which we have access. In the absence of an active market, we determine fair values based on valuation models or by reference to other similar products in active markets.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fair values determined using valuation models require the use of assumptions. In determining those assumptions, we look
primarily to external readily observable market inputs. However, if not available, we use inputs that are not based on observable market data. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Level Determinations and Classifications </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Level I, II and III classifications in the fair
value hierarchy are utilized by the Company. The fair value measurement of a financial instrument is included in only one of the three levels, the determination of which is based on the lowest level input that is significant to the derivation of the
fair value. Refer to Note 14(I) and (II)&nbsp;from our consolidated financial statements for further details on the inputs used for each level. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The effect of using reasonably possible alternative assumptions as inputs to valuation techniques for contracts included in the
Level III fair value measurements at Dec. 31, 2024, is an estimated total upside of $200&nbsp;million (2023 &#8211; $194 million) and total downside of $146&nbsp;million (2023 &#8211; $116 million) impact to the carrying value of the financial
instruments. Fair values are stressed for unobservable inputs, which can include variable volumes, unobservable prices and wind discounts, among other inputs. The variable volumes are stressed up and down based on historically available production
data. Prices are stressed for longer-term deals where there are no liquid market quotes using various internal and external forecasting sources to establish a high and a low price range. Wind discounts represent price to volume relationships and are
stressed specific to each location. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition to the Level III fair value measurements discussed above, the Brookfield
Investment Agreement allows Brookfield the option to exchange all of the outstanding exchangeable securities into an equity ownership interest of up to a maximum of 49&nbsp;per cent in an entity formed to hold TransAlta&#8217;s Alberta Hydro Assets
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M80</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">after Dec. 31, 2024. The fair value of the option to exchange is considered a Level
III fair value measurement, with an estimated downside of $30&nbsp;million (2023 &#8211; $25 million) potential impact to the carrying value of nil as at Dec. 31, 2024 (2023 &#8211; nil). The sensitivity analysis has been prepared using the
Company&#8217;s assessment that a change in the implied discount rate of the future cash flow of one per cent is a reasonably possible change. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>Valuation of PP&amp;E and </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Associated Contracts </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At the end of each reporting period, we assess whether there is any indication that PP&amp;E and finite life intangible assets are
impaired or whether a previously recognized impairment may no longer exist or may have decreased. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our operations, the
market and business environment are routinely monitored and judgments and assessments are made to determine whether an event has occurred that indicates a possible impairment. If such an event has occurred, an estimate is made of the recoverable
amount of the asset or cash-generating unit (CGU) to which the asset belongs. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets and
goodwill is allocated to each CGU or group of CGUs that is expected to benefit from the synergies of the acquisition from which the goodwill arose. The recoverable amount is the higher of an asset&#8217;s fair value less costs of disposal or its
value in use. Fair value is the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. In determining fair value less costs of disposal, information about third-party transactions
for similar assets is used and if none is available, other valuation techniques, such as discounted cash flows, are used. Value in use is computed using the present value of management&#8217;s best estimates of future cash flows based on the current
use and present condition of the asset. In estimating either fair value less costs of disposal or value in use using discounted cash flow methods, estimates and assumptions must be made about sales prices, cost of sales, production, fuel consumed,
capital expenditures, retirement costs and other related cash inflows and outflows over the life of the facilities, which can range from 30 to 49 years. In developing these assumptions, management uses estimates of contracted and future market
prices based on expected market supply and demand in the region in which the facility operates, anticipated production levels, planned and unplanned outages, changes to regulations and transmission capacity or constraints for the remaining life of
the facilities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Discount rates are determined by employing a weighted average cost of capital methodology that is based
on capital structure, cost of equity and cost of debt assumptions based on comparable companies with similar risk characteristics and
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
market data as the asset, CGU or group of CGUs subject to the test. These estimates and assumptions are susceptible to change from period to period and actual results can and often do differ from
the estimates and can have either a positive or negative impact on the estimate of the impairment charge and may be material. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The impairment outcome can also be impacted by the determination of CGUs or groups of CGUs for asset and goodwill impairment testing. The allocation of goodwill is reassessed upon changes in the composition of segments, CGUs or
groups of CGUs. In respect of determining CGUs, significant judgment is required to determine what constitutes independent cash flows between power facilities that are connected to the same system. We evaluate the market design, transmission
constraints and the contractual profile of each facility, as well as our commodity price risk management plans and practices, in order to inform this determination. With regard to the allocation or reallocation of goodwill, significant judgment is
required to evaluate synergies and their impacts. Minimum thresholds also exist with respect to segmentation and internal monitoring activities. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We evaluate synergies with regard to opportunities from combined talent and technology, functional organization and future growth
potential and we consider our own performance measurement processes in making this determination. No changes arose in our CGUs in 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">PP&amp;E impairment charges can be reversed in future periods if circumstances improve. No assurances can be given if any reversal will occur or the amount or timing of any such reversal. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Asset Impairments </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">During 2024, the Company recorded asset impairment charges of $24&nbsp;million related to retired assets due to changes in discount rates and cash flow revisions. Refer to Note 24 and 7 in our consolidated financial statements for
further details. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Valuation of Goodwill </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We evaluate goodwill for impairment at least annually, or more frequently if indicators of impairment exist. If the carrying amount
of a CGU or group of CGUs, including goodwill, exceeds the unit&#8217;s fair value, the excess represents a goodwill impairment loss. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">For the purposes of the 2024 goodwill impairment review, the Company determined the recoverable amounts of the Wind and Solar segment by calculating the fair value less costs of disposal using discounted cash flow projections. In
2024, the Company relied on the recoverable amounts determined in 2023 for the Hydro and Energy Marketing segments in performing the 2024 goodwill impairment review. The recoverable amounts are based on the
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M81</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Company&#8217;s long-range forecasts for the periods extending to the last planned
asset retirement in 2072. The resulting fair value measurement is categorized within Level III of the fair value hierarchy. We have determined there were no goodwill impairments for 2024, 2023 and 2022. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Determining the fair value of the CGUs or group of CGUs is susceptible to changes from period to period as management is required to
make assumptions about future cash flows, including estimates of contracted and future market prices based on expected market supply and demand in the region in which the facility operates, anticipated production levels, planned and unplanned
outages, changes to regulations and transmission capacity or constraints for the remaining life of the facilities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
significant assumptions impacting the determination of fair value for the Wind and Solar segment, with a high degree of subjectivity, are the following: </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">&#149;&#8194;Forecasts of sales prices for each facility are determined by taking into consideration contract prices for facilities
subject to long- or short-term contracts, forward price curves for merchant plants and regional supply-demand balances. Where forward price curves are not available for the duration of the facility&#8217;s useful life, prices are determined by
extrapolation techniques using historical industry and company-specific data. Merchant electricity prices used in Wind and Solar models ranged between $40 to $225 per MWh during the forecast period (2023 &#8211; $35 to $238 per MWh). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">&#149;&#8194;Discount rates used ranged from 6.4 to 7.3&nbsp;per cent (2023 &#8211; 6.4 to 7.5 per cent). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">&#149;&#8194;The White Rock and Horizon Hill wind facilities are subject to location specific price basis, sourced from third party
analysis. This analysis is based on models of the transmission system, including assumptions around potential system upgrades as well as forecasted generation and load in the area. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Project Development Costs </B></FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Project development costs include external, direct and incremental costs that are necessary for completing an acquisition or construction project. The appropriateness of capitalization of these costs is evaluated each reporting
period and amounts capitalized for projects no longer probable of occurring are charged to net earnings (loss). At the end of each reporting period, we assess whether there is any indication that capitalized project development costs are impaired by
evaluating the effect of any significant adverse events on projects, including the evaluation of whether the criteria for capitalization continues to be appropriate. During 2024, the Company recognized impairment of project development costs related
to projects that are no longer proceeding. Refer to note 7 of our consolidated financial statements.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Useful Life of PP&amp;E </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Each significant component of an item of PP&amp;E is depreciated over its estimated useful life. A component is a tangible asset
that can be separately identified as an asset and is expected to provide a benefit of greater than one year. Estimated useful lives are determined based on current facts and past experience and take into consideration the anticipated physical life
of the asset, existing long-term sales agreements and contracts, current and forecasted demand, the potential for technological obsolescence and regulations. The useful lives of PP&amp;E and depreciation rates used are reviewed at least annually to
ensure they continue to be appropriate. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Change in Estimate &#8212; Useful Lives </B></FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2024 and 2023, the Company adjusted the useful lives of certain assets in the Gas segment to reflect changes to the future
operating expectations of the assets. This resulted in a decrease of $112&nbsp;million (2023 - $92 million) in depreciation expense that was recognized in the Consolidated Statement of Earnings in 2024 and 2023, respectively. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Leases </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In
determining whether the Company&#8217;s contracts contain, or are, leases, management must use judgment to assess whether the contract provides the customer with the right to substantially all of the economic benefits from the use of the asset
during the lease term and whether the customer obtains the right to direct the use of the asset during the lease term. For those agreements considered to contain, or be, leases, further judgment is required to determine the lease term by assessing
whether termination or extension options are reasonably certain to be exercised. Judgment is also applied in identifying <FONT STYLE="white-space:nowrap">in-substance</FONT> fixed payments (included) and variable payments that are based on usage or
performance factors (excluded) and in identifying lease and <FONT STYLE="white-space:nowrap">non-lease</FONT> components (services that the supplier performs) of contracts and in allocating contract payments to lease and <FONT
STYLE="white-space:nowrap">non-lease</FONT> components. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For leases where the Company is a lessor, judgment is required
to determine if substantially all of the significant risks and rewards of ownership are transferred to the customer or remains with the Company, to appropriately account for the agreement as either a finance or operating lease. These judgments can
be significant and impact how we classify amounts related to the arrangement as either PP&amp;E or as a finance lease receivable on the Consolidated Statements of Financial Position and therefore the amount of certain items of revenue and expense
are dependent upon such classifications. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M82</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Income Taxes </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Preparation of the consolidated financial statements involves determining an estimate of, or provision for, income taxes in each of
the jurisdictions in which we operate. The process also involves making an estimate of taxes currently payable and income taxes expected to be payable or recoverable in future periods, referred to as deferred income taxes. An assessment must also be
made to determine the likelihood that our future taxable income will be sufficient to permit the recovery of deferred income tax assets. To the extent that such recovery is not probable, deferred income tax assets must be reduced. The reduction of
the deferred income tax asset can be reversed if the estimated future taxable income improves. No assurances can be given if any reversal will occur or the amount or timing of any such reversal. Management must exercise judgment in its assessment of
continually changing tax interpretations, regulations and legislation to ensure that deferred income tax assets and liabilities are complete and fairly presented. Differing assessments and applications than our estimates could materially impact the
amount recognized for deferred income tax assets and liabilities. Our tax filings are subject to audit by taxation authorities. The outcome of some audits may change our tax liability, although we believe that we have adequately provided for income
taxes in accordance with IFRS based on all information currently available. The outcome of pending audits is not known nor is the potential impact on the consolidated financial statements determinable. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Employee Future Benefits </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">We provide selected pension and other post-employment benefits to employees, such as health and dental benefits. The cost of providing these benefits depends on many factors, including actual plan experience and estimates and
assumptions about future experience. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The liabilities for pension, other post-employment benefits and associated pension
costs included in annual compensation expenses are impacted by employee demographics, including age, compensation levels, employment periods, the level of contributions made to the plans and earnings on plan assets. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Changes to the provisions of the plans may also affect current and future pension costs. Pension costs may also be significantly
impacted by changes in key actuarial assumptions, including, for example, the discount rates used in determining the defined benefit obligation and the net interest cost on the net defined benefit liability. The discount rate used to estimate our
obligation reflects high- quality corporate fixed income securities currently available and expected to be available during the period to maturity of the pension benefits.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Defined Benefit Obligation </B></FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. The defined benefit obligation has decreased by $9&nbsp;million to $146&nbsp;million as at Dec. 31, 2024, from $155&nbsp;million as at Dec. 31, 2023. A one per cent
increase in discount rates would have a $34&nbsp;million impact on the defined benefit obligation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Decommissioning and
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Restoration Provisions </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We recognize decommissioning and restoration provisions for generating facilities and mine sites in the period in which they are
incurred if there is a legal or constructive obligation to remove the facilities and restore the site. The amount recognized as a provision is the best estimate of the expenditures required to settle the provision. Expected values are probability
weighted to deal with the risks and uncertainties inherent in the timing and amount of settlement of many decommissioning and restoration provisions. Expected values are discounted at the current market-based risk-free interest rate adjusted to
reflect the market&#8217;s evaluation of our credit standing. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company recognizes provisions for decommissioning
obligations. 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. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 4, 2024 as part of the Heartland acquisition, the Company recognized decommissioning and
restoration provision of $101&nbsp;million. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2024, the decommissioning and restoration provision increased by
$21&nbsp;million due to revisions in estimated cash flows and timing of cash flows for certain Gas and Hydro assets. The timing of cash flows was adjusted to optimize and maximize efficiencies by staging required reclamation work. Operating assets
included in PP&amp;E increased by $14&nbsp;million and $7&nbsp;million was recognized as an impairment charge in net earnings related to retired assets. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2024, revisions in discount rates increased the decommissioning and restoration provision by $35&nbsp;million due to a
decrease in discount rates. On average, discount rates decreased compared to 2023, with rates ranging from 5.3 to 8.4&nbsp;per cent as at Dec. 31, 2024. This has resulted in a corresponding increase in PP&amp;E of $18&nbsp;million on operating
assets and the recognition of a $17&nbsp;million impairment charge in net earnings related to retired assets. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M83</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Other Provisions </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Where necessary, we recognize provisions arising from ongoing business activities, such as interpretation and application of
contract terms, ongoing litigation and force majeure claims. These provisions and subsequent changes thereto are determined using our best estimate of the outcome of the underlying event and can also be impacted by determinations made by third
parties, in compliance with contractual requirements. The actual amount of the provisions that may be required could differ materially from the amount recognized. As part of the acquisition of Heartland, the Company recognized an onerous contract
provision of $47&nbsp;million related to certain natural gas transportation contracts assumed. Payments required under the contracts continue through the first quarter of 2031. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Classification of Joint Arrangements </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Upon entering into a joint arrangement, the Company must classify it as either a joint operation or joint venture and the
classification affects the accounting for the joint arrangement. In making this classification, the Company exercises judgment in evaluating the terms and conditions of the arrangement to determine whether the parties have rights to the assets and
obligations or rights to the net assets. Factors such as the legal structure, contractual arrangements and other facts and circumstances, such as where the purpose of the arrangement is primarily for the provision of the output to the parties and
when the parties are substantially the only source of cash flows for the arrangement, must be evaluated to understand the rights of the parties to the arrangement.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Significant Influence </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Upon entering into an investment, the Company must classify it as either an investment as an associate or an investment under IFRS
9. In making this classification, the Company exercises judgment in evaluating whether the Company has significant influence over the investee. Significant influence is the power to participate in the financial and operating policy decisions of the
investee, but is not control or joint control over those policies. If the Company holds 20&nbsp;per cent or more of the voting rights in the investee, it is presumed that the entity has significant influence, unless it can be clearly demonstrated
that this is not the case. Other factors such as representation on the board of directors, participation in policy-making processes, material transactions between the Company and investee, interchange of managerial personnel or providing essential
technical information are considered when assessing if the Company has significant influence over an investee. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M84</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_22"></A>Accounting Changes </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Current Accounting Changes </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Amendments to IAS 1 &#8212; <FONT STYLE="white-space:nowrap">Non-current</FONT> Liabilities with Covenants and Classification of Liabilities as
Current or <FONT STYLE="white-space:nowrap">Non-current</FONT> </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In October 2022, the IASB issued <FONT
STYLE="white-space:nowrap">Non-current</FONT> Liabilities with Covenants, which amends IAS 1 Presentation of Financial Statements, to clarify how conditions with which an entity must comply within 12 months after the reporting period affect the
classification of a liability. In January 2020, the IASB issued Classification of Liabilities as Current or <FONT STYLE="white-space:nowrap">Non-current,</FONT> which amends IAS 1 Presentation of Financial Statements regarding the classification of
liabilities as current or <FONT STYLE="white-space:nowrap">non-current,</FONT> clarifying that contractual rights and conditions existing at the end of the reporting period are relevant in determining whether the Company has a right to defer
settlement of a liability by at least 12 months. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Additionally, the IASB clarified that the classification of a liability
is unaffected by the likelihood that an entity will exercise its deferral right. The amendments are applied retrospectively, effective for annual periods beginning on or after Jan.&nbsp;1, 2024, and were adopted by the Company on that date.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has an Investment Agreement whereby Brookfield Renewable Partners or its affiliates (collectively,
Brookfield) invested $750&nbsp;million in TransAlta through the purchase of exchangeable securities (Exchangeable Securities), which are exchangeable into an equity ownership interest in TransAlta&#8217;s Alberta hydro assets in the future. On
Jan.&nbsp;1, 2024, the Company reclassified the Exchangeable Securities from <FONT STYLE="white-space:nowrap">non-current</FONT> liabilities to current liabilities as the conversion option can be exercised at any time after Dec.&nbsp;31, 2024,
although there is no obligation to deliver cash equivalent resources and the holder cannot call for repayment. This accounting is consistent with the amendment.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Future Accounting Changes </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Amendments to IFRS 9 and IFRS 7 &#8212; Nature-Dependent Electricity Contracts </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec.&nbsp;18, 2024, the IASB issued amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosure to
improve reporting of the financial effects of nature-dependent electricity (e.g., wind and solar) contracts, which are often structured as power purchase agreements. Under these contracts, the amount of electricity generated can vary based on
uncontrollable factors such as weather conditions. The amendments clarify the application of <FONT STYLE="white-space:nowrap">own-use</FONT> requirements, permit hedge accounting if these contracts are used as hedging instruments and add new
disclosure requirements about the effect of these contracts on a company&#8217;s financial performance and cash flows. The amendments are effective for annual reporting periods beginning on or after Jan.&nbsp;1, 2026. The Company is currently
evaluating the impacts to the financial statements. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Amendments to IFRS 7 and IFRS 9 &#8212; Classification and Measurement of
Financial Instruments </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;29, 2024, the IASB issued Amendments to the Classification and Measurement of
Financial Instruments effective Jan.&nbsp;1, 2026 impacting IFRS 7 and 9. The IASB amended the requirements related to settling financial liabilities using an electronic payment system and assessing contractual cash flow characteristics of financial
assets, including those with <FONT STYLE="white-space:nowrap">ESG-linked</FONT> features. The Company is currently evaluating the impacts to the financial statements. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>IFRS 18 &#8212; Presentation and Disclosure in Financial Statements </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On April&nbsp;9, 2024, the IASB issued a new standard, IFRS 18 <I>Presentation and Disclosure in Financial Statements</I>, which
introduced new requirements for improved comparability in the statement of profit or loss, enhanced transparency of management-defined performance measures and more useful grouping of information in the financial statements. The standard is
effective for annual reporting periods beginning on or after Jan.&nbsp;1, 2027. The Company is currently evaluating the impacts to the financial statements.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M85</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_23"></A>Sustainability </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Sustainability, or environmental, social and governance (ESG) management and
performance, is a core value at TransAlta. Sustainability is integrated into our governance, decision-making, risk management and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">day-to-day</FONT></FONT> business processes. Our
focus on continuous improvement on material sustainability factors seeks to mitigate <FONT STYLE="white-space:nowrap">ESG-related</FONT> risks and provides long-term value creation to our stakeholders. TransAlta&#8217;s sustainability pillars
support our corporate strategy and weave through our business. Our sustainability pillars were refreshed in 2024 and include: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><B></B><FONT STYLE="font-family:Times New Roman" COLOR="#636466">&#149;</FONT><FONT COLOR="#636466"><B></B></FONT><B></B></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466"><B>Reliable and Responsible Electricity Production </B></FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><B></B><FONT STYLE="font-family:Times New Roman" COLOR="#636466">&#149;</FONT><FONT COLOR="#636466"><B></B></FONT><B></B></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466"><B>Safe, Healthy, Diverse and Engaged Workplace </B></FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><B></B><FONT STYLE="font-family:Times New Roman" COLOR="#636466">&#149;</FONT><FONT COLOR="#636466"><B></B></FONT><B></B></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466"><B>Positive Indigenous, Stakeholder, Customer and Employee Relationships
</B></FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><B></B><FONT STYLE="font-family:Times New Roman" COLOR="#636466">&#149;</FONT><FONT COLOR="#636466"><B></B></FONT><B></B></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466"><B>Environmental Stewardship </B></FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><B></B><FONT STYLE="font-family:Times New Roman" COLOR="#636466">&#149;</FONT><FONT COLOR="#636466"><B></B></FONT><B></B></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466"><B>Technology and Innovation </B></FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Reporting on Our Material Sustainability Factors </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta has been reporting on sustainability since 1994. The Company&#8217;s sustainability reporting is integrated within this
MD&amp;A to provide information on how sustainability factors affect our business and is guided by leading sustainability reporting frameworks. We partially adopt guidance from the Canadian Sustainability Standards Board, International
Sustainability Standards Board, International Financial Reporting Standards (IFRS) Foundation, Integrated Reporting Framework, Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) requirements for electric
utilities and power generators. We continue to monitor the development of sustainability-and climate-related disclosure requirements in the jurisdictions in which we operate to assess our future reporting obligations. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Since 2007, TransAlta&#8217;s material sustainability data to be disclosed has received limited assurance from independent
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
third-party providers. Climate-related information to be disclosed is partially informed by the IFRS S2 Climate-related Disclosures Standard and the recommendations of the Task Force on
Climate-related Financial Disclosures (TCFD). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, we reviewed and updated our management response to our 2021
climate-related scenario analysis. We also reviewed and updated our Climate Transition Plan and climate-related financial metrics. GHG emissions data for scopes 1, 2 and 3 follow the accounting and reporting standards of the GHG Protocol. For
further information on climate change management and the findings of our scenario analysis, refer to the Transitioning Our Energy Mix section of this MD&amp;A. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Disclosure of our most relevant sustainability factors in 2024 remained unchanged from 2022 and is guided by our most recent
materiality assessment. In 2022, we refreshed our materiality assessment by evaluating key sector-specific research, supported by internal and external engagement on key sustainability factors. Our Enterprise Risk Management (ERM) program is
designed to help the Company focus its efforts on key enterprise risks, within the planning horizon that could significantly impact the success of our strategy, including our sustainability objectives. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Key topics identified within SASB, TCFD, IFRS and the Taskforce on Nature-related Financial Disclosures (TNFD) were reviewed to
inform the identification of our material sustainability factors. We also considered sustainability factors from the electricity sector through Electricity Canada&#8217;s 2021 Sustainable Electricity Report and conducted a peer review of material
sustainability factors. This work, validated by our executive team, resulted in the identification of 21 material sustainability factors, which are presented in the Sustainability Governance section of this MD&amp;A. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For further guidance on our risk factors, refer to the Governance and Risk Management section of this MD&amp;A.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M86</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_24"></A>Our 2024 Sustainability Performance
</B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Performance against our 2024 sustainability targets is outlined below and excludes the acquisition of Heartland
Generation on Dec.&nbsp;4, 2024 (refer to the Significant and Subsequent Events section of this MD&amp;A). Target year means by Dec.&nbsp;31 of that year. For more information on all our sustainability performance indicators, refer to the
Sustainability Performance Indicators section of this report. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>ESG Alignment: Environmental </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="21%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="34%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="33%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability goal</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability
target</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Results</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Comments</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Reduce&nbsp;GHG&nbsp;emissions</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2026, achieve a 75&nbsp;per
cent reduction of scope 1 and 2 GHG emissions from 2015 base year<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#636466"><I>On
track</I></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Since 2015, we have reduced scope 1 and 2 GHG emissions by
22.7 MT CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e or 70&nbsp;per cent.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2045, achieve <FONT
STYLE="white-space:nowrap">net-zero</FONT> for 100 per cent of TransAlta&#8217;s scope 1 and 2 GHG emissions<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#636466"><I>On
track</I></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2024, verify and disclose
80 per cent of TransAlta&#8217;s scope 3 emissions</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#636466"><I>Achieved</I></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We received limited assurance
on 93 per cent of TransAlta&#8217;s scope 3 emissions in 2024.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Reduce air emissions</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2026, achieve a 95&nbsp;per
cent reduction of SO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB> emissions and an 80&nbsp;per cent reduction of NO<SUB STYLE="font-size:75%; vertical-align:bottom">x</SUB> emissions below 2005 levels</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#636466"><I>Achieved in
2022</I></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We achieved this target in
2022 through the reduction of our SO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB> emissions by 98&nbsp;per cent and NO<SUB STYLE="font-size:75%; vertical-align:bottom">x</SUB> emissions by 83&nbsp;per cent from 2005 levels. In 2024, we
retained the achievement of this target.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Reclaim land utilized for mining</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2040, complete full
reclamation of our Centralia coal mine in Washington State</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#636466"><I>On
track</I></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Reclamation work at Centralia
is underway and 44&nbsp;per cent of the coal mine land has been reclaimed.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2046, complete full
reclamation of our Highvale coal mine in Alberta</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#636466"><I>On
track</I></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Highvale coal mine in
Alberta closed in 2021. Reclamation work is underway and 22&nbsp;per cent of the coal mine land has been reclaimed.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Responsible water
management</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2026, reduce fleet-wide
water consumption (withdrawals minus discharge) by 20&nbsp;million m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP> or 40&nbsp;per cent over a 2015 baseline</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#636466"><I>Achieved in
2022</I></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We achieved this target in
2022 through the reduction of our fleet-wide water consumption by approximately 20&nbsp;million m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP> or 43&nbsp;per cent from 2015 levels. In 2024, we retained the achievement of this
target.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Protecting nature and biodiversity</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2024, assess and disclose
nature-related risks and opportunities including TransAlta&#8217;s dependencies and impacts on ecosystems, land, water and air</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#636466"><I>Achieved</I></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><I></I>Assessment of
nature-related risks and opportunities was completed in 2024.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Achieve zero
biodiversity-related incidents<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#636466"><I>Achieved</I></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><I></I>We recorded zero
(0)&nbsp;biodiversity-related incidents.</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gross GHG emissions reduction target, which does not include utilization of internally generated
and externally purchased emission credits. TransAlta does not plan to use carbon credits to achieve its 2026 GHG emissions reduction target. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Target covers 100&nbsp;per cent of TransAlta&#8217;s operating assets. The Company may choose to
neutralize residual emissions from <FONT STYLE="white-space:nowrap">gas-fired</FONT> generation through fuel switching, new technologies or nature-based solutions to achieve its 2045 <FONT STYLE="white-space:nowrap">net-zero</FONT> target. For
further information, refer to the Climate Transition Plan in the Transitioning Our Energy Mix section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Biodiversity-related incidents are significant environmental incidents that affect habitats and
species included on the Red List of the International Union for Conservation of Nature and are classified as near-threatened, vulnerable, endangered and critically endangered. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M87</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>ESG Alignment: Social </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="37%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="34%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability goal</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability
target</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Results</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Comments</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Reduce safety incidents</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Achieve a Total Recordable
Injury Frequency (TRIF) rate below 0.32 with a goal of 0.00</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>Not<BR>Achieved</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We recorded a TRIF rate of
0.56 compared to 0.30 in 2023. We recorded zero serious injuries in 2024. The identification and control of high-energy hazards is foundational to our strong performance on serious injury prevention.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Integrate sustainability into supply
chain</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2024, 80&nbsp;per cent of
our spend will be with suppliers that have a sustainability policy or commitment</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>Not<BR>Achieved</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On average, 79 per cent of our
spend in 2022, 2023 and 2024 was with suppliers that have a sustainability policy or commitment.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Support prosperous Indigenous communities</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Support equal access to all
levels of education for youth and Indigenous peoples through financial support and employment opportunities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>On track</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Support represented a total
value of</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">$320,000, or 11&nbsp;per cent of TransAlta&#8217;s total community
investment.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Provide Indigenous cultural
awareness training during the onboarding of all new TransAlta employees<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>Achieved</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We provided Indigenous
awareness training to 100&nbsp;per cent of employees in Canada, the U.S. and Western Australia onboarded in 2024.</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>ESG Alignment: Governance </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="37%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="34%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability goal</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability
target</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Results</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Comments</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Strengthen gender equality</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Achieve 50 per cent female
representation on the Board by 2030</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>On track</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Dec.&nbsp;31, 2024,
women represented 38&nbsp;per cent of our Board composition, compared to 46&nbsp;per cent in 2023.<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Achieve at least 40&nbsp;per
cent female employment among all employees of the Company by 2030</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>On track</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Dec. 31, 2024, women
represented 28 per cent of all employees, an increase over 2023 levels (27 per cent).</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Maintain equal pay for women
in equivalent roles as men</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>Achieved</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We achieved a 99&nbsp;per cent
female/male pay equity ratio. We strive to maintain this ratio within a deviation of plus or minus three per cent.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Demonstrate leadership on ESG reporting
within financial disclosures</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Maintain our position as a
leader on integrated ESG disclosure through increased annual alignment with leading sustainability disclosure frameworks</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>On track</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta received an
award for best ESG reporting <FONT STYLE="white-space:nowrap">(mid-cap)</FONT> by the IR Magazine Canada. We also received the Sustainability, ESG and Purpose Award from the Governance Professionals of Canada. This award underscores our commitment
to embedding sustainability into our governance, strategy and risk management practices.<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">TransAlta employees have 60 days to complete onboarding training; hence, this target refers to
employees onboarded from Jan. 1 to Oct.&nbsp;31, 2024. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Board composition includes all independent directors, and our President and CEO who is not
independent. In 2024, we achieved 50&nbsp;per cent female representation on the Board, excluding the two nominees from Brookfield. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">A description of the specific set of criteria and/or methodology used by the IR Magazine Canada
can be found at https://events.irmagazine.com/ canadaawards. The Governance Professionals of Canada 2024 Report of the Judges can be found at
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">https://www.flipsnack.com/gpcanada/2024-gpc-eg-awards-judges-report/full-view.html.</FONT></FONT> </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M88</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>ESG Alignment: Environmental and Social </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="21%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="34%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability goal</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Sustainability target</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Results</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Comments</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Coal transition</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No further coal generation by the end of 2025 with
100&nbsp;per cent of our owned net generation capacity to be from renewables and gas</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>On&nbsp;track</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We retired 670&nbsp;MW of
coal-fired generation at Centralia on Dec. 31, 2020. In 2021, we retired or converted all coal plants in Canada and closed the Highvale coal mine, thus ceasing all coal generation in Canada. We plan to cease coal-fired generation at our Centralia
plant by Dec.&nbsp;31, 2025.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Clean energy solutions for
customers</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Develop new renewable projects that support
customer sustainability goals to achieve both long-term power price affordability and carbon reductions</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>On track</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Since 2021, we have added over
800&nbsp;MW of new capacity through renewable projects such as Windrise (206&nbsp;MW), Garden Plain (130&nbsp;MW), Northern Goldfields Solar (48&nbsp;MW), White Rock (302&nbsp;MW) and Horizon Hill (202&nbsp;MW). As a result, our U.S. renewables
fleet represents over 1 GW.</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_25"></A>2025+ Sustainability Targets </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our 2025 and longer-term sustainability targets support the performance of our
business. Goals and targets are established to manage current and emerging material sustainability factors in support of the United Nations Sustainable Development Goals (UN SDGs) and the <FONT STYLE="white-space:nowrap">Future-Fit</FONT> Business
Benchmark, which defines sustainable goals for businesses. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta updated four sustainability targets in the
areas of air emissions, water resources, safety and Indigenous relations, while setting a new climate-related target to achieve a 30&nbsp;per cent reduction of our scope 1 and 2 GHG emissions intensity by 2030 from a 2023 base year.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have maintained our climate-related targets to achieve <FONT
STYLE="white-space:nowrap">net-zero</FONT> of scope 1 and 2 GHG emissions by 2045 and to reduce 75&nbsp;per cent of our scope 1 and 2 GHG emissions by 2026 from a 2015 base year. This target covers 100&nbsp;per cent of TransAlta&#8217;s operating
assets and is estimated to align with the electricity sector decarbonization pathway to limit global warming to 1.5&deg;C, as one of the Paris Agreement goals. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Targets are outlined below. Target year means by Dec. 31 of that year.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M89</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>ESG Alignment: Environmental </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="22%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="34%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability goal</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability
target</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; margin-right:0.67em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Alignment with UN
SDG Target or <FONT STYLE="white-space:nowrap">Future-Fit</FONT><BR>Business Benchmark</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Reduce GHG emissions</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2026, achieve a 75&nbsp;per
cent reduction of scope 1 and 2 GHG emissions from 2015 base year<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">UN SDG Target 13.2: &#8220;Integrate
climate change measures into national policies, strategies and planning&#8221;</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2030, achieve a 30&nbsp;per
cent reduction of scope 1 and 2 GHG emissions intensity from 2023 base year</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2045, achieve <FONT
STYLE="white-space:nowrap">net-zero</FONT> for scope 1 and 2 GHG emissions<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Reduce air emissions</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2030, achieve a 90&nbsp;per
cent reduction of SO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB> emissions intensity from 2023 base year</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">UN SDG
Target 9.4: &#8220;By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial
processes&#8221;</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Reclaim land utilized for mining</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2040, complete full
reclamation of our Centralia coal mine in Washington State</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT
STYLE="white-space:nowrap">Future-Fit</FONT> Business Benchmark: &#8220;Positive Pursuits 13: Ecosystems are restored&#8221;</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2046, complete full
reclamation of our Highvale coal mine in Alberta</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT
STYLE="white-space:nowrap">Future-Fit</FONT> Business Benchmark: &#8220;Positive Pursuits 13: Ecosystems are restored&#8221;</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Manage water resources</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2030, maintain water
consumption intensity at 2023 levels</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">UN SDG
Target 6.4: &#8220;By 2030, substantially increase <FONT STYLE="white-space:nowrap">water-use</FONT> efficiency across all sectors and ensure sustainable withdrawals and supply of freshwater to address water scarcity and substantially reduce the
number of people suffering from water scarcity&#8221;</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Protect nature and
biodiversity</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Achieve zero
biodiversity-related incidents<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">UN SDG
Target 15.5: &#8220;Take urgent and significant action to reduce the degradation of natural habitats, halt the loss of biodiversity and, by 2020, protect and prevent the extinction of threatened species&#8221;</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Transition away from
coal</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cease coal generation by the
end of 2025 with 100&nbsp;per cent of our owned net generation capacity to be from renewables and gas</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; margin-right:0.67em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">UN SDG
Target 7.1: &#8220;By 2030, ensure universal access to affordable, reliable and modern energy services&#8221;</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gross GHG emissions reduction target, which does not include utilization of internally generated
and externally purchased emission credits. TransAlta does not plan to use carbon credits to achieve its 2026 GHG emissions reduction target. The Company may choose to update this target to include the acquisition of Heartland Generation on Dec. 4,
2024, in alignment with internationally recognized methodologies such as the GHG Protocol. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Target covers 100&nbsp;per cent of TransAlta&#8217;s operating assets. The Company may choose to
neutralize residual emissions from <FONT STYLE="white-space:nowrap">gas-fired</FONT> generation through fuel switching, new technologies or nature-based solutions to achieve its 2045 <FONT STYLE="white-space:nowrap">net-zero</FONT> target. For
further information, refer to the Climate Transition Plan in the Transitioning Our Energy Mix section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Biodiversity-related incidents are significant environmental incidents that affect habitats and
species included on the Red List of the International Union for Conservation of Nature and are classified as near-threatened, vulnerable, endangered and critically endangered. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M90</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>ESG Alignment: Social </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="21%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability goal</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; margin-right:0.89em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability
target</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Alignment with UN SDG Target or <FONT
STYLE="white-space:nowrap">Future-Fit</FONT><BR>Business Benchmark</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Reduce safety incidents </B></FONT></P></TD>

<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; margin-right:0.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Achieve a
Total Recordable Injury Frequency rate below 0.37 with a goal of 0.00</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">UN SDG Target 8.8:
&#8220;Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment&#8221;</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Support prosperous Indigenous communities</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; margin-right:0.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Support
access to education and wellbeing for Indigenous communities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">UN SDG Target 4.5: &#8220;By
2030, eliminate gender disparities in education and ensure equal access to all levels of education and vocational training for the vulnerable, including persons with disabilities, Indigenous peoples and children in vulnerable
situations&#8221;</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; margin-right:0.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Provide
Indigenous cultural awareness training during the onboarding of all new TransAlta employees</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">UN SDG Target 12.8: &#8220;By
2030, ensure that people everywhere have the relevant information and awareness for sustainable development and lifestyles in harmony with nature&#8221;</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>ESG Alignment: Governance </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="21%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability goal</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; margin-right:0.89em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainability
target</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Alignment with UN SDG Target or <FONT
STYLE="white-space:nowrap">Future-Fit</FONT> Business Benchmark</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Strengthen gender equality</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; margin-right:0.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Achieve
50 per cent female representation on the Board by 2030</FONT></P></TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ROWSPAN="2" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">UN SDG Target 5.5: &#8220;Ensure women&#8217;s
full and effective participation and equal opportunities for leadership at all levels of decision making in political, economic and public life&#8221;</FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; margin-right:0.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Achieve
at least 40&nbsp;per cent female employment among all employees of the Company by 2030</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:-0.44em; margin-right:0.89em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Maintain
equal pay for women in equivalent roles as men</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M91</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_26"></A>Transitioning Our Energy Mix </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We recognize the impact of climate change on society and our business both today and
into the future. TransAlta&#8217;s renewable energy journey began 113 years ago when we built the first hydro assets in Alberta, which still operate today. In 1993, we began operating our first wind facility, which was the first commercial wind
facility in Canada; in 2014, we acquired our first solar facility; and, in 2020, we constructed our first battery storage facility. Today, we operate 60 renewable power facilities across Canada, the U.S. and Western Australia. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our reporting on climate change management has been guided by the TCFD recommendations since 2018. In 2024, we partially adopted
guidance from IFRS S2, which is based on the TCFD recommendations with industry-specific climate metrics based on the SASB standards. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Strategy and Risk Management </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Climate Change Strategy </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As described in the following sections, our risks and opportunities
assessment and scenarios analysis support the development and continuous improvement of our climate change strategy. We actively monitor and manage climate-related risks and opportunities to ensure we remain resilient across scenarios. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta remains committed to creating a path to resiliency in a decarbonizing world in support of the goals adopted under the
Paris Agreement, and the goals adopted during subsequent international climate meetings. Our strategy is focused on the operation of our existing assets (wind, hydro, solar, natural gas, battery storage and coal), the
<FONT STYLE="white-space:nowrap">phase-out</FONT> of coal-fired electricity generation, the development of renewable energy and storage, and the use of natural gas generation to ensure reliability. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our customers continue to integrate climate risk into their business decisions; therefore, we see an advantage in our renewable
power business to support our customers&#8217; sustainability goals. From 2000 to 2024, we increased our nameplate renewable power capacity from approximately 900&nbsp;MW to over 3,600 MW. Today, TransAlta is one of the largest producers of wind
power in Canada, and the largest producer of hydro power in Alberta. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Another way we contribute to our customers&#8217;
sustainability goals is through environmental attributes. The environmental attributes we generate include carbon offsets, renewable energy credits and emission offsets. Our customers use environmental attributes to lower compliance costs attributed
to carbon policies or renewable portfolio standards. Environmental attributes can also help achieve voluntary corporate sustainability or carbon reduction goals.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">To combat the challenges of renewable energy intermittency, we continue to invest in
battery storage and evaluate the role of natural gas to provide reliability and flexibility. In 2020, we launched WindCharger, a
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#8220;first-of-its-kind</FONT></FONT></FONT> in Alberta&#8221; battery storage project that stores energy produced by our Summerview II wind facility
and discharges electricity into the Alberta grid during system supply shortages, as well as providing critical system support services to the system operator. This project received <FONT STYLE="white-space:nowrap">co-funding</FONT> from Emissions
Reduction Alberta. Further, in 2021, we agreed to provide solar electricity supported with a battery energy storage system to BHP Nickel West through the construction of the Northern Goldfields hybrid solar project in Western Australia. The Northern
Goldfields solar and battery storage facilities were commissioned in 2023. In 2022, TransAlta entered into an agreement for the expansion of the Mount Keith 132kV transmission system. The expansion was completed in February 2024. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have also taken important steps to reduce our carbon footprint over the last several years. In 2021, we adopted a more stringent
climate-related target to reduce 75&nbsp;per cent of scope 1 and 2 GHG emissions by 2026 from a 2015 base year. This target covers 100&nbsp;per cent of TransAlta&#8217;s operating assets and is estimated to align with the electricity sector
decarbonization pathway to limit global warming to 1.5&deg;C, as one of the Paris Agreement goals. Furthermore, we adopted a long-term climate-related target to achieve <FONT STYLE="white-space:nowrap">net-zero</FONT> for 100&nbsp;per cent of
TransAlta&#8217;s scope 1 and 2 GHG emissions by 2045. This target aligns with the Canadian <FONT STYLE="white-space:nowrap">Net-Zero</FONT> Emissions Accountability Act to achieve <FONT STYLE="white-space:nowrap">net-zero</FONT> emissions by 2050.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Since 2018, we have retired 4,464 MW of coal-fired generation capacity, while converting 1,659 MW to natural gas.
Comparatively, our converted natural gas units&#8217; CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB> intensity is approximately 57&nbsp;per cent less than coal-fired generation. Repurposing these facilities rather than decommissioning
them reduces the cost and emissions associated with new construction, and aligns with the UN SDGs, specifically &#8220;Goal 9: Industry, Innovation and Infrastructure.&#8221; Completed conversions and the closure of our Highvale coal mine also
contribute to the goals of the Powering Past Coal Alliance, which TransAlta joined in 2021 at COP26. In 2025, we plan to cease coal-fired operations at our sole remaining coal unit, located in the U.S., to complete TransAlta&#8217;s transition away
from coal-fired electricity generation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We engage with policymakers and stakeholders involved in the energy transition
to ensure that parties understand the need to maintain reliable, sustainable and affordable energy as countries move to <FONT STYLE="white-space:nowrap">net-zero</FONT> electricity systems. At TransAlta, we plan to continue investing in renewables
and assessing the best options to deliver energy storage. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M92</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At the same time, we believe that natural gas plays an essential role in the
electricity sector, providing critical reliable, dispatchable generation to support current systems demands. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Climate Transition Plan
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A climate-related transition plan describes how a company aims to minimize climate-related risks and increase
opportunities, in alignment with IFRS S2 and TCFD. In 2024, TransAlta updated its Climate Transition Plan, which outlines our approach to reducing operational and value chain emissions with the target to deliver
<FONT STYLE="white-space:nowrap">net-zero</FONT> operations by 2045. Our Climate Transition Plan includes sustainable finance and inclusive transition actions that reflect TransAlta&#8217;s commitment to a progress toward a lower-carbon economy. For
further information, refer to Sustainable Finance in the Transitioning Our Energy Mix section of this MD&amp;A and Inclusive Transition in the Engaging with Our Stakeholders to Create Positive Relationships section of this MD&amp;A.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Climate Transition Plan defines TransAlta&#8217;s past, short- term (2025-2027)
and medium- to long-term actions (beyond 2028). For each of these actions, we assessed our ability to control (C)&nbsp;intended outcomes, partner (P)&nbsp;with stakeholders to drive outcomes or influence (I)&nbsp;outcomes that will help us achieve
our decarbonization targets. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The highest level of climate-change oversight, including the actions of our Climate
Transition Plan, is at the Board of Directors (Board) level. For further information, refer to Oversight by the Board of Directors in the Climate Change Governance section of this MD&amp;A. Information on executive compensation linked to
climate-related targets is described in <FONT STYLE="white-space:nowrap">ESG-Linked</FONT> Compensation in the Building a Diverse and Inclusive Workforce section of this MD&amp;A. Metrics and targets supporting our Climate Transition Plan, including
climate-related financial metrics, are described in Climate Change Metrics and Targets in the Transitioning Our Energy Mix section of this MD&amp;A.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M93</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>Climate Transition Plan </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="16%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Past actions</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Short-term actions</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>(2025-2027)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Medium to long-term actions<BR>(2028
+)</B></FONT></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Hydro</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Became the largest producer of hydro power in Alberta
(C)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Evaluate and deploy investments in renewable projects, where appropriate (C)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Evaluate and deploy investments in renewable projects, where appropriate
(C)</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Wind and solar</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">From 2000 to 2024, we grew our nameplate renewables capacity by
approximately 2,200 MW (C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Battery storage</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">First battery storage facility delivered in 2020 (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2023, completed the construction of a 48 MW
solar and battery storage system in Western Australia (C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Evaluate and deploy battery storage, where appropriate
(C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Evaluate and deploy battery storage, where
appropriate (C)</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Natural gas</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Converted 1,659 MW from coal to natural gas since 2018 (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Completed our <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">coal-to-gas</FONT></FONT> conversions in Canada in 2021&nbsp;(C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Operate simple-cycle, combined- cycle and cogeneration facilities in
Canada, the U.S. and Western Australia (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Assess deployment of nature-based or engineered solutions to neutralize unabated <FONT STYLE="white-space:nowrap">gas-fired</FONT> generation where appropriate (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Evaluate use of renewable and <FONT
STYLE="white-space:nowrap">low-carbon</FONT> natural gas (C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Neutralize residual GHG emissions (scopes 1 and 2)
from <FONT STYLE="white-space:nowrap">gas-fired</FONT> generation through fuel switching, new technologies or nature-based solutions (C)</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Emerging</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>abatement</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT
 COLOR="#43c5e4"><B>technologies</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>and solutions</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2023, started partnership to target early-stage revolutionary
technologies through a US$25 million investment in a deep decarbonization fund (P)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2023, started an electric vehicle pilot project in our hydro operations&nbsp;(C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, started a partnership to study the
deployment of a small modular nuclear reactor at the site of an existing <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">coal-to-gas</FONT></FONT> plant in Alberta (P)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, continued to support the development of
<FONT STYLE="white-space:nowrap">low-cost,</FONT> low- emissions hydrogen production through a $2&nbsp;million investment in a Canadian-based venture (P)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Identify the next generation of power solutions and technologies and
potential for parallel investments in new complementary sectors by the end of 2025 (P)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Assess ways to support customers with broader decarbonization technologies beyond electrification (P)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Identify opportunities to partner, pilot and
deploy novel, <FONT STYLE="white-space:nowrap">net-zero</FONT> generation technologies (P)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Assess and deploy GHG removal technologies where appropriate (C) Evaluate the electrification of our vehicle fleet
(C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Deploy new
<FONT STYLE="white-space:nowrap">net-zero</FONT> generation technologies and solutions where appropriate&nbsp;(C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Choose materials, products and processes that generate fewer GHG emissions, mainly through energy savings
(C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Evaluate the
electrification of our vehicle fleet (C)</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Energy</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>transition (coal)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Retired 4,464 MW of coal-fired generation capacity since 2018 including
ending coal generation in Canada in 2021&nbsp;(C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Ceased coal mining in Canada in 2021 and in the U.S. in 2006&nbsp;(C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2023, started partnership to repurpose landfilled fly ash to advance <FONT STYLE="white-space:nowrap">low-carbon</FONT> concrete
projects in Alberta (P)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Continue to execute reclamation work at our coal mines (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cease coal-fired generation by the end of 2025
(C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Contribute to a circular economy
through mining waste reuse or by- product sales (C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Complete full reclamation in Washington State by
2040 and in Alberta by 2046 (C)</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M94</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>Climate Transition Plan (Continued) </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="16%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Past actions</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Short-term actions</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>(2025-2027)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Medium to long-term actions<BR>(2028
+)</B></FONT></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Supply chain</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Enhanced supplier management functionality within the corporate
procurement system (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">From 2022 to
2024, 79&nbsp;per cent of our spend was with suppliers that had a sustainability policy or commitment&nbsp;(C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Develop ESG criteria for supply chain engagement (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Understand direct suppliers, their GHG emissions
profile and targets (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Incorporate
ESG data reporting capability in corporate procurement system (C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Engage with suppliers to explore enhancement of
their GHG emissions reduction targets (I)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Consider setting direction for engaging suppliers with GHG emissions reduction targets (C)</FONT></P></TD></TR>

<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Value chain</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Updated scope 3 GHG emissions reporting methodology (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, verified and disclosed 93 per cent of
our total scope 3 emissions&nbsp;(C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Consider scope 3 GHG emissions targets (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Consider verification and disclosure of
remaining scope 3 GHG emissions (C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Consider scope 3 GHG emissions targets
(C)</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Sustainable</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>finance</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2021, converted existing $1.3 billion loan into a Sustainability-
Linked Loan aligned with our GHG emissions reduction and female employment targets (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2021, secured $173&nbsp;million green bond financing for an eligible wind project in Alberta (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2022, issued US$400&nbsp;million Senior Green
Bonds for eligible renewable energy and energy-efficiency projects&nbsp;(C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Linked ESG performance to employees&#8217; and executive remuneration (C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Continue to evaluate the use of sustainable or green financing
instruments to fund renewable energy and battery storage projects (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Link ESG performance to employees&#8217; and executive remuneration (C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Continue to evaluate the use of sustainable or green
financing instruments to grow our renewables and storage capacity (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Link ESG performance to employees&#8217; and executive remuneration (C)</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Inclusive</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>transition</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Developed a five-year Equity, Diversity and Inclusion (ED&amp;I) strategy
(C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Conducted an ED&amp;I census to
measure progress (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Set employee
engagement and ED&amp;I targets as part of <FONT STYLE="white-space:nowrap">ESG-linked</FONT> compensation (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Since 2023, launched four employee resource groups (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Since 2022, provided Indigenous cultural
awareness training to all employees (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">From 2012 to 2023, invested US$55&nbsp;million to support energy efficiency, economic and community development and education and retraining initiatives in Washington State (P)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Since 2016, invested in the communities impacted
by the <FONT STYLE="white-space:nowrap">phase-out</FONT> of coal generation in Alberta (P)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Empower employees through culture champions to foster a culture of
allyship, inclusion and belonging (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adapt workplaces to incorporate structural changes for inclusive work environments (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Embed ED&amp;I into our culture strategy and
daily work activities (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Continue to
invest in the communities impacted by the <FONT STYLE="white-space:nowrap">phase-out</FONT> of coal generation in Alberta (P)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Strengthen Indigenous relations focused on community engagement and consultation, community investment and partnership opportunities
(P)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Promote supplier diversity in our
operations (C)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Advance recruitment and retention of female
employees to progress towards gender-based targets (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Maintain succession practices to increase diverse representation at the senior management level (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Increase female
representation in Generation by encouraging women to pursue a career in electricity (C)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Enhance opportunities for diverse suppliers in our procurement processes (C)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Continue to enhance our
Indigenous relations focused on partnership opportunities with local communities&nbsp;(P)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Provide ongoing support to local community organizations aligned with our community investment pillars where we
operate and grow&nbsp;(P)</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M95</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Climate Change Governance </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Climate-related risks and opportunities can significantly impact our business. We therefore actively manage such risks and
opportunities so that we can continue to grow and achieve our goals. Climate-related issues are identified at every level of management, including the Board, executive team, business units and corporate functions. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Oversight by the Board of Directors </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The highest level of climate change oversight is at the Board level. Specific oversight of certain aspects of the Company&#8217;s
response to climate change is delegated to the Board, its Governance, Safety and Sustainability Committee (GSSC), Audit, Finance and Risk Committee (AFRC), and Investment Performance Committee (IPC). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Meeting quarterly, the GSSC assists the Board in monitoring and assessing compliance with climate change regulation and reporting.
The GSSC receives management reports on changes in climate-related legislation and the potential impact of policy developments on TransAlta&#8217;s business. The GSSC also supports the Board in overseeing Company-wide climate change strategies,
policies and practices. The GSSC also reviews environmental protection guidelines, including with respect to GHG mitigation, and considers whether our environmental procedures are being implemented effectively. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The AFRC and IPC also play an important role in managing TransAlta&#8217;s climate-related risks and opportunities. The AFRC assists
the Board in overseeing the integrity of our consolidated financial statements and considers climate risks and opportunities related to our financial decision-making. The AFRC is also responsible for approving our Commodity and Financial Exposure
Management policies and reviewing quarterly ERM reporting. The IPC considers and assesses risks related to capital investment projects, including overseeing climate risk assessments and mitigation plans. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Board reviews and updates the Company&#8217;s strategy annually. In 2024, the Board&#8217;s strategic planning sessions included
climate-related issues considering growth initiatives and strategies, capital allocation, policy development and other matters. Our Board is comprised of individuals with a mix of skills, knowledge and experience critical to our strategy success and
business growth. In 2024, three of our 12 Board members identified environment/climate change among their top four relevant competencies. Given the breadth of experience and skills of each director, the Board skills matrix lists only the top four
competencies of each director nominee, based on the Board&#8217;s assessment and each director&#8217;s self-evaluation. Criteria used to assess competence on climate-related issues include the director&#8217;s knowledge of corporate responsibility
practices and sustainable development practices, including as they pertain to climate change.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For further information regarding Board members competence on climate-related issues,
refer to TransAlta&#8217;s Management Proxy Circular. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Role of Senior Management </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s President and CEO maintains the highest level of oversight on climate-related issues at the executive level.
Senior management of the Company, including our President and CEO, provide the Board with updates on climate-related risks and opportunities to inform business strategy, mitigate risk, and ensure alignment with TransAlta&#8217;s GHG emissions
reduction goals. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our business units and corporate functions work closely together to support the executive team in
understanding climate-related risks and opportunities, including legislative and regulatory developments. Our executive team reviews such risks and opportunities quarterly and reports to the GSSC and AFRC, as applicable. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At the business unit level, climate change risks are identified through our Total Safety Management System, asset management
function and systems, energy and trading business, communication with stakeholders, active monitoring and participation in working groups. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Notably, we link our annual incentive plans (short-term incentive and long-term incentives) to our strategic goals. In 2024, our strategic goals included growing renewable energy and supporting our customers&#8217; sustainability
goals to decarbonize through <FONT STYLE="white-space:nowrap">on-site</FONT> renewable energy generation. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For further
information on incentives for ESG performance, refer to the discussion on <FONT STYLE="white-space:nowrap">ESG-Linked</FONT> Compensation in Building a Diverse and Inclusive Workforce section of this MD&amp;A. </FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Climate Scenarios </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">In 2021, TransAlta conducted climate scenario analysis to understand risks and opportunities and assess our strategy&#8217;s resiliency under several potential future climate scenarios. The analysis used scenarios from the
International Energy Agency&#8217;s (IEA) World Energy Outlook 2020, a large-scale simulation model designed to replicate how energy markets function. We used three scenarios: Stated Policies (STEPS); Sustainable Development (SDS); and <FONT
STYLE="white-space:nowrap">Net-Zero</FONT> Emissions by 2050 (NZE). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In STEPS, the energy system has no major additional
climate and environmental policies enacted by government(s). STEPS assumes that carbon pricing continues in Canada while no carbon price is set in the U.S. or Australia. STEPS also assumes that the power sector reduces emissions by 45&nbsp;per cent
by 2040 while natural gas generation capacity increases. Finally, STEPS is limited to the deployment of commercial-ready technologies, including wind and solar.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M96</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In SDS, the goals of the Paris Agreement (2015)&nbsp;are achieved, resulting in <FONT
STYLE="white-space:nowrap">net-zero</FONT> emissions by 2070. The SDS assumes a rapid increase in clean energy policies and investments that position the energy system to also achieve key UN SDGs. In SDS, all current
<FONT STYLE="white-space:nowrap">net-zero</FONT> pledges are achieved and there are extensive efforts to reduce emissions. SDS assumes that carbon pricing continues in Canada and is set in the U.S. and Australia. It also assumes that the power
sector reduces emissions by 90&nbsp;per cent by 2040 while natural gas capacity remains stable into 2030 and declines toward 2040. Finally, SDS assumes that beyond wind and solar, the energy system relies on batteries, storage and some level of
carbon capture, utilization and storage (CCUS) and hydrogen. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">NZE represents a pathway for the global energy sector to
achieve <FONT STYLE="white-space:nowrap">net-zero</FONT> emissions by 2050. This scenario also assumes key energy-related SDGs are achieved through universal energy access by 2030 and major improvements in air quality.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">NZE is built upon the idea that a global increase in electrification supports the
journey to <FONT STYLE="white-space:nowrap">net-zero.</FONT> It assumes that an aggressive carbon price is set in Canada, the U.S. and Australia. It also assumes the power sector reaches <FONT STYLE="white-space:nowrap">net-zero</FONT> emissions by
2035 in advanced economies while natural gas capacity is stable to 2030 and declines significantly into 2040. Like the SDS, NZE assumes that beyond wind and solar, the energy system relies on batteries, storage and some level of CCUS and hydrogen.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, we reviewed the findings from the climate scenario analysis and updated the management response accordingly.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M97</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_27"></A>Key Climate Scenario Findings </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2021, TransAlta used climate scenarios from the IEA World Energy Outlook 2020 to
analyze the resiliency of our business and determine specific risks and opportunities for our individual assets. All three scenarios present opportunities for TransAlta&#8217;s growth related to renewables, storage solutions and ancillary services.
Our scenario analysis at that time determined that our wind and solar assets had the highest prospects for growth. Under all scenarios, hydro remains a valuable asset as it allows for expansion to include storage.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Findings outlined below may not reflect currently available climate scenarios or
policy frameworks. We continue to monitor climate-related risks and opportunities that may impact our business over time. For further information, refer to the Managing Climate Change Risks and Opportunities section in this MD&amp;A.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
sections highlight TransAlta&#8217;s top risks, opportunities and management response across all scenarios. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>Top Identified
Climate-Related Risks by Scenario (2021) </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="16%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="26%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Increased clean energy<BR>competition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Decreased demand of<BR>natural gas electricity</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Increased operational costs</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Description</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Subsidies/funds available for clean energy
transition increase as governments aim to grow installed capacity of renewables to meet rising electricity demand and compensate for the closure of carbon-intensive power plants. In Canada, it is expected that major grid decarbonization investments
will flow into Alberta as most other provincial markets are heavily regulated and/or are already low carbon. This will increase competition in the wholesale electricity market, making a large part of the generating fleet frequently bid at zero,
driving down the average price of dispatched electricity. Simultaneously the cost of renewables, expected to decline across all scenarios, decreases the capital barrier to entry. These combined factors will increase competition for TransAlta. The
IEA scenarios do not provide clear indication of electricity pricing and how it can be affected by increased competition. As such, this remains a point of uncertainty. Some structural market changes may be required to guarantee returns for power
generators and successfully decarbonize the grid.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Demand for power from natural gas declines as the
market shifts towards cleaner power with gas shifting to a reliability backstop role. An additional decline from Canadian oil and gas customers can occur as oil production levels drop under NZE and SDS. The transition to a lower-carbon world will
likely result in volatility and market uncertainty. Natural gas power may be necessary to provide power in the transition if the pace of decarbonization is slower than expected in the scenarios or if grid-scale storage solutions do not
develop/commercialize as modelled. In these cases, with coal phased out, natural gas facilities will be relied on for baseload generation. This means that natural gas facilities may still play a role for a smooth and efficient energy transition.
Optimization of natural gas facilities is required, and additional investments need to be assessed with caution to consider the pace of decarbonization and consequent risk of decreased demand for natural gas power.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Carbon price increases the
cost of natural gas operations. Additional mandated emissions reductions could force remaining plants to invest in technologies like CCUS, further increasing the operating costs for natural gas plants. Natural gas facilities in the U.S. and Western
Australia face less risk compared to assets in Alberta as they are contracted and can pass down carbon costs to their clients. Current and anticipated regional carbon pricing monitoring is required to plan and assess increases in operational costs
and impacts on new projects and investments.</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M98</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="16%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="26%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="26%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Increased clean energy<BR>competition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Decreased demand of<BR>natural gas electricity</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:6pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Increased operational costs</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>NZE</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">By 2040, renewables are expected to comprise over
85&nbsp;per cent of the total electricity generation in the regions where we operate. This surge in renewables will increase competition and drive electricity pricing down depending on availability and the cost of energy storage. The change in
electricity prices and increased market uncertainty are expected to impact our profits.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">The share of natural gas electricity generation is
expected to decline over 50&nbsp;per cent in the regions in which we operate by 2040 compared to 2019 levels. This lower demand for natural gas power is expected to impact our natural gas facilities if no management responses are
implemented.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher operational costs
driven by an increase in carbon price to US$205/tonne CO2e by 2040 in all our operating regions (advanced economies under IEA scenarios) and lower operational capacity is expected to impact the profits from our natural gas
facilities.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>SDS</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Fewer subsidies/funds are expected under this
scenario compared to NZE. However, renewable costs will still decline approximately 10&nbsp;per cent in wind and 55&nbsp;per cent in solar by 2040 compared to 2019 levels. This decline with some level of subsidy will increase competition and
potentially decrease electricity prices, which is expected to impact our profits.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Natural gas electricity generation still falls over
50&nbsp;per cent in North America while remaining flat in Western Australia by 2040 compared to 2019 levels. Demand for natural gas power is expected to decrease at a slower pace than under NZE. This could potentially impact our natural gas
facilities if no management responses are implemented.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Increase in operational costs
would happen at a slower rate compared to NZE but carbon costs are still expected to reach US$140/tonne CO2e by 2040 in all of our operating regions. This could potentially impact the operational capacity and profits from our natural gas facilities,
depending on the ability to pass carbon prices on through our contracts.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>STEPS</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">While minimal subsidies are expected and the cost
of entry will not decline at the same rate as SDS or NZE, renewable costs are still expected to decline approximately eight per cent in wind and 45 per cent in solar by 2040 compared to 2019 levels. This will still cause an increase in competition
that is expected to be offset by additional electricity demand and therefore it is not expected to impact our profits.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Natural gas electricity generation is expected to
increase over 15 per cent in the regions in which we operate by 2040 compared to 2019 levels. These changes are not expected to affect our natural gas facilities.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Operational costs are not
expected to significantly increase under this scenario as only Canada is expected to adopt a carbon price in 2040.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Management
response</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Navigating uncertainty around market dynamics
(structure, pricing and competition), government policies and planning is critical for TransAlta. We use hedging and PPAs to reduce pricing-related risks. See more details of our strategy and risk management under the Climate Strategy section and
the Managing Climate Change Risks and Opportunities section of this MD&amp;A.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">As concerns regarding grid reliability and demand
increase, we have increased our focus on optimizing our gas facilities to maximize value and cash flows and to support future renewables and storage growth. Our converted natural gas units&#8217; CO2 intensity is approximately 57&nbsp;per cent less
than coal generation. Repurposing the coal facilities rather than decommissioning them reduces the cost and emissions associated with new construction and aligns with the UN SDGs, specifically &#8220;Goal&nbsp;9: Industry, Innovation and
Infrastructure.&#8221; In parallel, we plan to achieve a 100&nbsp;per cent portfolio mix of renewables and natural gas by the end of 2025.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have taken significant
steps to reduce our carbon footprint. Since 2015, we have reduced scope 1 and 2 GHG emissions by 70&nbsp;per cent. By 2026, we have a commitment to reduce scope 1 and 2 GHG emissions by 75&nbsp;per cent from 2015 base year and have a target to
achieve <FONT STYLE="white-space:nowrap">net-zero</FONT> emissions by 2045.</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M99</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>Top Identified Climate-Related Opportunities by Scenario (2021)
</B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="16%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="40%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="40%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Renewables become major energy source</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>New technology development</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Description</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Opportunities to grow the renewable fleet exist
across all scenarios. Renewable assets (hydro, wind, solar) are expected to become the default form of generation with demand for power from these types of assets increasing. Hydro is likely to grow in value given increased renewables penetration
and the need for reliable <FONT STYLE="white-space:nowrap">zero-emitting</FONT> generation. This can make hydroelectric power a stronger source of baseload electricity in many regions. The decreasing cost of renewables also facilitates the growth of
a renewable fleet, especially under NZE and SDS.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Opportunities for the
development of battery or hydroelectric storage systems and ancillary services exist across all scenarios as renewable energy continues to penetrate the grid. Developments in these areas are required to keep electricity flowing when the renewables
in a region are not producing. Storage is anticipated to play an especially important role in the energy transition. Cost-competitive battery storage enables greater adoption of renewables.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>NZE</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">A growth of renewable electricity generation of
approximately 950&nbsp;per cent is expected by 2040 compared to 2019 levels. This results in renewables comprising more than 85&nbsp;per cent of the electricity generation in the regions in which we operate. The transition of hydro to baseload
capacity is expected to create upside for TransAlta. An increase in TransAlta&#8217;s renewable capacity and demand are expected to enable growth and higher revenues.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Increased revenues through
access to new and emerging markets are expected to enable growth and higher revenues under NZE. With more than 85&nbsp;per cent of electricity in areas in which we operate made up of renewables, there will be big steps forward in storage and
ancillary services technologies. Storage capacity is expected to grow to approximately 250 GW in the U.S. by 2040.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>SDS</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">A growth of renewable electricity generation of
approximately 550&nbsp;per cent is expected by 2040 compared to 2019 levels. This results in renewables comprising more than 75&nbsp;per cent of the electricity generation in the regions in which we operate. An increase in TransAlta&#8217;s
renewable capacity and demand are expected to enable growth and higher revenues.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Increased revenues through
access to new and emerging markets are expected to enable growth and higher revenues under SDS. A lower share of renewables than in NZE will allow swing production to remain present; however, growth in ancillary and storage capacity will still be
needed to support the market. Storage capacity is expected to grow to approximately 110 GW in the U.S. by 2040.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>STEPS</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">STEPS growth is muted relative to the other
scenarios but still sees a growth of renewables of 280&nbsp;per cent by 2040 compared to 2019 levels. This growth will allow approximately 50&nbsp;per cent of electricity generation to come from renewables in areas in which we operate by 2040. An
increase in TransAlta&#8217;s renewable capacity and demand are expected to enable growth and higher revenues.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Access to new and emerging
markets would be limited under this scenario compared to NZE and SDS. While growth in renewables is expected, the need for new technologies is not a necessity in this market and may not be profitable. Therefore, our revenues are not expected to be
affected.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Management
response</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><FONT COLOR="#636466">Our renewable energy commitment began more than 100
years ago when we built the first hydro assets in Alberta, which still operate today. We now operate 60 renewable facilities across Canada, the U.S. and Western Australia. Our strategy is focused on the operation and/or repurposing of our existing
assets (wind, hydro, solar, gas, storage and coal) and the development of renewable energy, storage and natural gas generation for reliability. From 2000 to 2024, we increased our nameplate renewables capacity from approximately 900 MW to over 3,600
MW. Today, TransAlta is one of the largest producers of wind power in Canada and the largest producer of hydro power in Alberta.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.50em; font-size:8pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">To address and mitigate the
challenges of renewable energy intermittency, we continue to invest in battery storage. In 2020, we launched WindCharger, a &#8220;first of its kind in Alberta&#8221; battery storage project that stores energy produced by our Summerview II wind
facility and discharges electricity into the Alberta grid during system supply shortages. Further, in 2023, we completed the Northern Goldfields solar project in Western Australia, which provides solar electricity supported with a battery energy
storage system and will support BHP Nickel West in meeting its emissions reduction targets. In 2024, TransAlta launched a project with Atlas Power Technologies Inc. for a hybrid hydro supercapacitor energy storage system, expected to be the first of
its kind in North America. The project is complementary to an existing hydro facility that augments the power plant&#8217;s response time and the capability to address frequency response needs.</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M100</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">NZE: The most significant risks include increased competition, decreased demand for
natural gas and increased operational costs due to increased carbon pricing and emissions reduction mandates. The most significant opportunities include a shift toward renewables as the default energy source and new technology developments,
including battery storage systems and ancillary services. It is worth noting that there are additional risks and opportunities for TransAlta under NZE. For example, changes in how energy market services are offered could positively or negatively
impact our business. Further, as carbon credit policies evolve, so will our ability to use credits. Lastly, as renewables become the primary energy source, a rethinking of ancillary services will be necessary but could create significant
opportunities for TransAlta. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">SDS: The risks and opportunities remain the same under SDS as NZE; however, the impacts are
reduced as market changes are slower and less extreme. Renewables still become the primary electricity source and there are new technology opportunities, particularly in batteries. Natural gas electricity demand still declines by 2040. Carbon
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
pricing exists in the U.S. and Australia, but the price is reduced compared to NZE. Lastly, a reevaluation of ancillary services still presents an opportunity for TransAlta. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">STEPS: Under STEPS, renewable generation sees significant growth but does not become the predominant energy source. Implementing new
technologies is much slower and the demand for batteries is reduced. The demand for natural gas electricity does not decline and there are no large-scale market changes making services, pricing and ancillary services more stable. This removes the
risk associated with natural gas electricity demand but eliminates the opportunity for growth in ancillary services. Physical risks become more relevant under this scenario than transitional risks. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The findings from the climate scenarios work alongside our sustainability metrics and targets to inform the evolution and resiliency
of our Company&#8217;s strategy and financial planning, risk management, opportunity assessment and planning for uncertainty.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_28"></A>Managing Climate Change Risks and Opportunities </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We actively monitor and manage climate-related risks through our Company-wide ERM
processes. In 2021, we used a climate scenario analysis to review specific risks. As previously mentioned, climate change risks and opportunities are addressed at each of the Board, executive and management, business unit levels and through our
corporate functions. The business units and corporate functions work closely together and provide information on risks and opportunities to management, the executive team and the Board. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Climate change risks at the asset or business unit level are identified through our Total Safety Management System, asset management
function and systems, energy and trading business, communication with stakeholders, active monitoring and participation in working groups. All identified material risks are added to our ERM register and scored based on likelihood and impact. We do
not consider risks in isolation and major risks are the focus of management response and mitigation plans. Further discussion can be found in Reporting in the Governance and Risk Management section of this MD&amp;A. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We divide our climate change risks into two major categories as per IFRS S2 and TCFD guidance: (i)&nbsp;risks related to the
transition to a lower-carbon economy; and (ii) risks related to the physical impacts of climate change.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Transition Risks to a </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Lower-Carbon Economy </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">We actively aim to understand and manage the impact of climate change on our business. In 2024, we updated the transition risks outlined below. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Policy and Legal Risks </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Changes in current environmental legislation have a potentially significant impact upon our business and operations in Canada, the U.S. and Australia. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For a more detailed assessment of policy and regulatory risks, refer to the Governance and Risk Management section of this MD&amp;A.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Canada </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Government of Canada has set objectives for carbon emissions reductions, including a 45 to 50&nbsp;per cent national emissions reduction over 2005 levels by 2035, a <FONT STYLE="white-space:nowrap">net-zero</FONT> electricity
grid by 2035 and a <FONT STYLE="white-space:nowrap">net-zero</FONT> national economy by 2050. The current government plans to rely on several policy tools to achieve its emissions objectives, including but not limited to carbon pricing, emissions
performance regulations, funding for industrial energy transition, and incentives for consumers. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M101</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Canada&#8217;s provinces have jurisdiction over their respective electricity sectors
and play an important role in setting carbon pricing policy and emissions performance standards, subject to the federal government&#8217;s authority to set national carbon pricing standards. Jurisdictional responsibilities between the federal and
provincial governments enable both levels of government to implement policies that impact our sector. Leadership changes at either level of government can influence policy direction. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Risks </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Changes in carbon pricing and emissions performance regulations may impact TransAlta&#8217;s
generation fleet in Canada as governments may change policy stringency in conjunction with climate targets. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Government funding for industrial energy transition may create out of market incentives for
competing generation. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Regulatory incentives, including emissions reduction crediting, may create out of market incentives
for competing generation. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lack of federal/provincial coordination with respect to climate policy and regulation may lead to
investment uncertainty. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Opportunities </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Independent estimates suggest that achieving Canada&#8217;s current climate targets will require a
minimum of twice Canada&#8217;s current <FONT STYLE="white-space:nowrap">non-emitting</FONT> generation. Further, we continue to see strong private sector demand for contracted renewable electricity generation to meet corporate sustainability goals.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Government funding to support the development of innovative technology to reduce emissions from the
electricity sector offers TransAlta the potential opportunity to gain project support to grow its energy storage fleet. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Government support for industrial electrification will grow the electricity load over time and
create new opportunities for electricity generation. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Management Response </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">We believe that TransAlta&#8217;s corporate strategy positions our Company to meet the demand for
renewable and dispatchable generation driven by customers and government policy. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">We are focused on developing and acquiring contracted assets that provide long-term certainty with
respect to revenue and eligibility for government incentive programs as applicable. TransAlta actively assesses available government renewable energy tax legislation and programs to maximize, wherever possible, access to project incentives.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our diversified portfolio and contracted growth reduces the proportional Company exposure to
potential policy and regulatory decisions that negatively impact natural gas generation. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">coal-to-gas</FONT></FONT>
facilities fit within government plans to continue providing reliable and competitively priced electricity for consumers and industry. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our remaining natural gas facilities <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">(non-coal-to-gas)</FONT></FONT></FONT> operate under contract, reducing TransAlta&#8217;s exposure to changes in carbon pricing. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">We engage with the federal and provincial governments in Canada to inform and influence policy
development to ensure that our generating fleet continues to serve our customers. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">We actively work, both directly and through industry associations, to encourage governments to
adopt a level playing field within funding and crediting programs so that all new emerging technology projects receive equitable government incentives and funding. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">We engage with all relevant Canadian governments to seek policy alignment across carbon pricing and
regulatory and funding programs to create the greatest possible degree of investment certainty. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>United States
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">President Trump was elected on Nov. 4, 2024. It is expected that the U.S. Government will reduce carbon emission
reduction objectives in 2025 following the inauguration. Currently, the Inflation Reduction Act of 2022 remains in force and aims to reduce U.S. carbon emissions by 40&nbsp;per cent by 2030 from 2005 levels. The U.S. does not have a national carbon
pricing regime but does offer federal incentives for renewable generation and energy storage. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">State and regional
renewable and climate policies have a significant impact on the pace of energy transition in the country, with several jurisdictions maintaining renewable portfolio standards and/or carbon pricing regimes. Similar to Canada, independent estimates
suggest that the U.S. will require substantial growth in <FONT STYLE="white-space:nowrap">zero-emissions</FONT> generation to meet its national, state and regional climate targets. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Risks </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">TransAlta operates two thermal generating facilities in the U.S. that could be subject to policy
changes, but we believe that our risk exposure is low due to existing agreements and contracts associated with these facilities (refer to Management Response below). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Potential changes to federal wind permitting could pose risks for new wind development projects.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M102</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Federal incentives for clean energy that are available today are expected to maintain competition
in renewables and energy storage. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Opportunities </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Achieving government and private sector sustainability commitments will require sustained growth in
<FONT STYLE="white-space:nowrap">zero-emissions</FONT> electricity generation over the coming decades. TransAlta remains focused on providing renewable electricity as a core component of a balanced energy portfolio to contracted customers in a
manner that is aligned with federal, state and private sector goals. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Strong customer demand to meet <FONT STYLE="white-space:nowrap">low-carbon</FONT> energy and
reliability needs present opportunities for TransAlta. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">U.S. tax incentive programs offer significant support for new renewable and energy storage
projects, making the U.S. an attractive growth market. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Management Response </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">TransAlta&#8217;s single coal unit in Washington State is subject to a retirement agreement with
the state government that exempts the facility from any carbon regulation before its end of life in 2025. TransAlta&#8217;s cogeneration unit at Ada operates under a contract that reduces the Company&#8217;s exposure to policy risk.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Company remains focused on developing and acquiring contracted assets that provide long-term
certainty with respect to revenue. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">TransAlta will continue to assess government policy changes related to our business under the new
U.S. administration. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Australia </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Australian Government has a 43&nbsp;per cent national emissions reduction target over 2005 levels by 2030 and a goal to achieve
a <FONT STYLE="white-space:nowrap">net-zero</FONT> national economy by 2050. Decarbonization efforts have been centered on funding clean technologies, upgrading the electricity grid to support more renewables, regulating and reporting of GHG
emissions, and incentivizing <FONT STYLE="white-space:nowrap">zero-emissions</FONT> vehicle adoption. Large GHG emitters are required to reduce their scope 1 emissions under the Australian Government&#8217;s National Safeguard Mechanism (SGM). While
the government has made recent changes to the SGM, these changes are not expected to have a material impact on TransAlta&#8217;s assets. Australian state governments have all adopted <FONT STYLE="white-space:nowrap">net-zero</FONT> goals and a
number of states have interim targets for 2030 and 2040. These state policies are driving demand for <FONT STYLE="white-space:nowrap">zero-emissions</FONT> electricity and energy storage. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Risks </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">TransAlta&#8217;s Western Australian natural gas facilities may face policy risk related to changes
in government policies
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left" COLOR="#636466">&nbsp;</TD>
<TD WIDTH="1">&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">
but we believe that we remain well positioned to mitigate those risks (refer to Management Response below). </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Opportunities </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Company remains focused on maintaining renewable and dispatchable electricity generation in
Western Australia and other markets. Government policies and funding programs are generally supportive of the types of projects contemplated within TransAlta&#8217;s strategy. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Strong corporate demand for renewable electricity solutions in Australia&#8217;s natural resource
sectors present opportunities for TransAlta to leverage its existing expertise to help customers meet regulatory requirements and reach their decarbonization objectives. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Management Response </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">TransAlta&#8217;s assets are predominantly contracted with an ability to pass through carbon
compliance costs and serve remote industrial load. As a result, the Company faces reduced policy risk. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Company continues to deliver renewable electricity solutions to natural resource customers in
Western Australia. Our growing suite of technologies, including renewables and energy storage, positions us to provide contracted solutions to customers focused on the need for reliable and sustainable energy. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">TransAlta also continues to assess opportunities to grow our renewable energy generation in
alignment with Australia&#8217;s national and state climate goals. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Technology Risks </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Technological changes to support the <FONT STYLE="white-space:nowrap">low-carbon</FONT> transition present both risks and
opportunities for TransAlta. We evaluate existing and emerging impacts of technology through our Energy Innovation team and our ERM process. Examples of technology risks and opportunities include infrastructure changes and digitization combined with
greater adoption of energy efficiency (less use of our end product). Cost-competitive battery storage will enable greater adoption of renewables and a shift to a distributed power generation model. We continue to evaluate battery storage for its
financial viability while monitoring the potential impact battery technology could have on natural gas power generation. In 2020, we completed our first battery storage (10 MW) project at one of our wind facilities in Southern Alberta. In 2023, we
delivered a hybrid system of solar with battery storage (48&nbsp;MW) in Western Australia. We continue to investigate the possibility of battery storage at our other facility locations. Our teams continuously adopt improved technology at each of our
new developments, which helps protect shareholder value and maintain reliable and affordable electricity delivery. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We
believe that we are well-positioned to take advantage of technological opportunities in storage through hydro
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M103</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">and/or battery power, as well as advancements in renewable technologies. We will
continue monitoring new technologies such as storage, hydrogen and CCUS for future deployment. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For further information
on technology and innovation, refer to the Enabling Innovation and Technology Adoption section of this MD&amp;A. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Market Risks
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our major market risks are associated with our natural gas facilities and specifically carbon pricing which could
impact our operating costs. We actively monitor market risks through our energy marketing and asset optimization teams and our ERM process. Further, our corporate functions apply regionally specific carbon pricing, both current and anticipated, as a
mechanism to manage future risks of uncertainty in the carbon market. To simultaneously manage our risks and leverage market opportunities, we continue operating our hydro, wind and solar facilities and evaluating fleet growth opportunities.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our renewable fleet makes our overall portfolio more resilient to climate risk, provides increased flexibility in
generation and creates incremental environmental value through environmental attributes. Lastly, we recognize the opportunity to grow our ancillary services, such as systems support, providing flexibility and reliability to the grid. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Reputation Risks </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Negative reputational impacts, including revenue loss and a reduced customer base, are evaluated through our ERM process. In the past, we experienced negative reputational impacts due to our coal operations. We believe that our
transition path away from coal mitigates this reputational risk. As consumer trends move in favour of renewable electricity, we are investing in a diversified mix of renewable generation and optimizing our existing natural gas fleet. We believe that
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-fired</FONT></FONT> generation enables the energy transition by ensuring the reliability of the electricity grid. We continue to actively monitor and manage reputational
risks by delivering reliable and responsible power solutions. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Physical Risks of Climate Change </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As we learn more about the physical risks associated with climate change, we continue to consider acute and chronic risks that could
significantly impact our operations. We continue to investigate the physical impacts of climate change on our operating assets. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Acute Physical Risks </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">We have operating assets in three countries and varied geographic locations, many of which could be impacted by extreme weather events. These events can impact our operations and give rise to risks. Due to the nature of our
business, our earnings are sensitive to seasonal weather
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
variations. Variations in winter weather affect the demand for electrical heating requirements while variations in summer weather affect the demand for electrical cooling requirements. These
variations in demand translate into spot market price volatility. Variations in precipitation also affect water supplies, which in turn affect our hydroelectric assets. Also, variations in sunlight conditions can have an effect on energy production
levels from our solar facilities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our generation facilities and their operations are exposed to potential damage and
partial or complete loss resulting from environmental disasters (e.g., floods, strong winds, wildfires, earthquakes, tornados and cyclones), equipment failures and other events beyond our control. Climate change can increase the frequency and
severity of these extreme weather events. The occurrence of a significant event that disrupts the operation or ability of the generation facilities to produce or sell power for an extended period, including events that preclude existing customers
from purchasing electricity, could have a material adverse effect. In certain cases, there is the potential that some events may not excuse us from performing our obligations pursuant to agreements with third parties. The fact that several of our
generation facilities are located in remote areas may make access for repair of damage difficult. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We continuously
evaluate the potential impact of acute climate change on our business. For example, our gas facility at the South Hedland, Australia, is built with climate adaptation in mind. We designed the facility to withstand a category 5 cyclone (the highest
cyclone rating). We have mitigated the risk of floods that can occur in the area by constructing the facility above normal flood levels. In 2019, a category 4 cyclone hit this facility and did not impact operations. We were able to continue
generating electricity through the storm despite widespread flooding and the shutdown of the nearby port. In Canada, since the 2013 floods in Southern Alberta, we have implemented projects that increase the resilience of our hydro facilities to
severe climate events. We have also modified operations at several of our facilities as per an agreement with the Government of Alberta. This reduces flood risk in the spring while also recognizing the potential for increased droughts as a result of
climate change in the future. TransAlta continues to participate in multi-stakeholder groups developing options for climate resiliency across Southern Alberta. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Chronic Physical Risks </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Chronic physical risks refer to longer-term shifts in climate patterns that may cause sea level rise, chronic heat waves, changes in precipitation patterns and extreme variability in weather patterns. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These variations in weather could have an impact on our generating assets. Ice can accumulate on wind turbine blades in the winter
months. The accumulation of ice on </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M104</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">wind turbine blades depends on a number of factors, including temperature and ambient
humidity. Accumulated ice can have a significant impact on energy yields and could result in the wind turbine experiencing more downtime. Extreme cold temperatures can also impact the ability of wind turbines to operate effectively and this could
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
result in more downtime and reduced production. In addition, climate change could result in increased variability to water flow or wind patterns that could impact our hydro and wind businesses
and associated revenue generation. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Climate Change Metrics and
Targets </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Metrics and Targets </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta has established climate-related goals and targets with reference to the UN SDGs. Performance against our 2024
climate-related targets is outlined below and excludes the acquisition of Heartland Generation on Dec. 4, 2024. Target year means by Dec. 31 of that year. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:1%; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Renewable Energy Growth </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="14%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="41%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Sustainability target</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Develop new renewable projects that support our
customers&#8217; sustainability goals to achieve both long-term power price affordability and carbon reductions.<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">No further coal generation;
100&nbsp;per cent of our owned net generation capacity from renewables and gas.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Target year</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">2024</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">2025</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Progress</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Since 2021, we have added over 800 MW of new
capacity through renewable projects such as Windrise (206 MW), Garden Plain (130 MW), Northern Goldfields Solar (48 MW), White Rock (302 MW) and Horizon Hill (202 MW).</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, our owned net
generation capacity from renewables and gas represented approximately 90&nbsp;per cent of our total 6,425 MW owned net generation capacity. In 2021, we achieved full <FONT STYLE="white-space:nowrap">phase-out</FONT> of coal in Canada. In the U.S.,
we plan to cease coal-fired generation at our Centralia plant by Dec. 31, 2025.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>UN SDG alignment</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Target 7.2: &#8220;By 2030, increase substantially
the share of renewable energy in the global energy mix&#8221;.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Target 7.1: &#8220;By 2030,
ensure universal access to affordable, reliable and modern energy services&#8221;.</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">This includes the construction of new renewable projects (hydro, wind and solar).
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:1%; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>GHG Emissions Reduction </B></FONT></P>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="14%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Sustainability target</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">By 2026, achieve a 75&nbsp;per cent reduction of
scope 1 and 2 GHG emissions from a 2015 base year.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">By 2045, achieve <FONT
STYLE="white-space:nowrap">net-zero</FONT> for 100&nbsp;per cent of TransAlta&#8217;s scope 1 and 2 GHG emissions.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Target year</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">2026</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">2045</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Progress</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">We are on track to achieve our target of 75 per
cent scope 1 and 2 GHG emissions reductions by 2026. Since 2015, we have reduced scope 1 and 2 GHG emissions by 22.7 MT CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e or 70&nbsp;per cent.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Since 2005, we have reduced
our scope 1 and 2 GHG emissions by 32&nbsp;million tonnes (MT) of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e or a 77&nbsp;per cent reduction, proudly representing approximately 11&nbsp;per cent of Canada&#8217;s Paris Agreement
2030 decarbonization target<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP>. We believe that our corporate strategy supports achieving our <FONT STYLE="white-space:nowrap">net-zero</FONT> target.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>UN SDG alignment</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Target 13.2: &#8220;Integrate climate change
measures into national policies, strategies and planning&#8221;.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-right:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Target 13.2: &#8220;Integrate
climate change measures into national policies, strategies and planning&#8221;.</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">In 2005, TransAlta&#8217;s estimated scope 1 and 2 GHG emissions were 41.9 MT of CO<SUB
STYLE="font-size:75%; vertical-align:bottom">2</SUB>e, which did not receive independent limited assurance. Canada&#8217;s Paris Agreement 2030 decarbonization target assumed 293 MT of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e or
a 40&nbsp;per cent reduction from a 2005 baseline of 732 MT of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M105</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s target to reduce 75&nbsp;per cent of our scope 1 and 2 GHG
emissions by 2026 from a 2015 base year is estimated to align with the electricity sector decarbonization pathway to limit global warming to 1.5&deg;C, as one of the Paris Agreement goals. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>GHG Disclosures </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Scope 1
and 2 Emissions </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Scope 1 emissions are the direct emissions from owned or controlled sources. Scope 2 emissions are
indirect emissions from the generation of purchased energy. TransAlta&#8217;s scope 1 and 2 GHG emissions are calculated using different methodologies depending on the technologies available at our facilities. Emissions data has been aligned with
the &#8220;Setting Organizational Boundaries: Operational Control&#8221; methodology set out in The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard developed by the World Resources Institute and the World Business Council for
Sustainable Development. We report emissions on an operation control basis, which means we report 100&nbsp;per cent of emissions at the facilities that we operate.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We compile our corporate GHG inventory using our business segment GHG calculations.
As a result, emission factors and global warming potentials used in our GHG calculations can vary due to difference in regional compliance guidance. Applying harmonized global warming potentials across our fleet would result in a minor variance to
our overall calculated GHG totals. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our GHG data is reported to a number of different regulatory bodies throughout the
year for regional compliance and, as a result, may incur minor revisions as we review and report data annually. Any historical revisions will be captured and reported in future disclosure. As per the Kyoto Protocol, GHGs include carbon dioxide,
methane, nitrous oxide, sulphur hexafluoride, nitrogen trifluoride, hydrofluorocarbons and perfluorocarbons. Our exposure is limited to carbon dioxide, methane, nitrous oxide and a small amount of sulphur hexafluoride. The majority of our estimated
GHG emissions result from carbon dioxide emissions from stationary combustion from coal and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-powered</FONT></FONT> generation. Methane emissions from our operations are
mainly due to incomplete combustion of natural gas from <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-powered</FONT></FONT> plants and there are no fugitive methane emissions associated with our operations. In 2024,
methane emissions were 0.5&nbsp;per cent of our total emissions. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
tables detail our GHG emissions by scope, business segment and country in million tonnes of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e. Some values do not sum to the indicated total due to rounding of tabulated emissions. Zeros
(0.0) indicate truncated values. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="69%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8196;&#8202;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2022&#8201;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Scope 1</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10.9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10.2&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Scope 2</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.1&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total scope 1 and 2 GHG emissions</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">10.9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">10.3&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8196;&#8202;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2022&#8201;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hydro</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.0&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind and Solar</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.0&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gas</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">6.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">6.3&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Energy Transition</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3.2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4.0&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Corporate and Energy Marketing</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.0&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total scope 1 and 2 GHG emissions</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">10.9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">10.3&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8196;&#8202;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2022&#8201;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Australia</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1.0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.9&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Canada</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5.2&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">United States</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4.1&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total scope 1 and 2 GHG emissions</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">10.9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">10.3&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M106</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, our GHG emissions (scope 1 and 2) were 9.6&nbsp;million tonnes as a result
of normal operating activities. This represents a 12&nbsp;per cent decrease from 2023. As a result, in 2024 our scope 1 and 2 GHG emissions intensity decreased to 0.35 tCO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e/MWh from 0.41 tCO<SUB
STYLE="font-size:75%; vertical-align:bottom">2</SUB>e/MWh in 2023. TransAlta plans to cease generation from our single remaining coal unit by the end of 2025, which will further reduce the Company&#8217;s emissions. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta sells the environmental attributes generated from our renewable energy facilities and does not subtract this amount from
our total GHG emissions (scope 1 and 2). </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">However, it should be noted that TransAlta&#8217;s customers are reporting GHG
emissions reductions using our renewable energy assets, projects and operations. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">GHG emissions are verified to a level
of reasonable assurance in locations in which we operate within a carbon regulatory framework. Any historical revisions to GHG data will be captured and reported in future disclosure. The majority of our GHG emissions result from carbon dioxide
emissions from stationary combustion from coal-and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-fired</FONT></FONT> generation.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table highlights our scope 1 and 2 GHG emissions reductions since 2015 and our targeted emissions in 2026 in million tonnes of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e. The actual GHG emissions for the Company in 2026 will vary
from that presented below depending on, among other things, the growth of the Company, including its <FONT STYLE="white-space:nowrap">on-site</FONT> generation business. </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="94%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2026&nbsp;(forecast)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;2015</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Total scope 1 and 2 GHG emissions</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8.1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">32.2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Scope 3 Emissions </B></FONT></P>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Scope 3 emissions are all indirect emissions (not included in scope 1 or 2) that
occur in the value chain of the reporting company, including both upstream and downstream emissions. TransAlta&#8217;s scope 3 emissions are calculated using methodologies consistent with the GHG Protocol Corporate Value Chain (Scope 3) Accounting
and Reporting Standard (Scope 3 Standard) and with reference to the additional guidance provided in the GHG Protocol Technical Guidance for Calculating Scope 3 Emissions (Scope 3 Guidance) developed by the World Resources Institute and the World
Business Council for Sustainable Development. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s scope 3 emissions include the indirect GHG emissions
resulting from activities in our value chain but outside of our operational control. Of the 15 categories described in the GHG Protocol Scope 3 Guidance, four are not relevant to our business and, therefore, are not included in the calculation:
Category 8: Upstream leased assets, Category 12: <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">End-of-life</FONT></FONT> treatment of sold products, Category 13: Downstream leased assets, and Category 14: Franchises.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, we achieved our target to verify and disclose 80&nbsp;per cent of
TransAlta&#8217;s scope 3 emissions by 2024. Of the 15 categories described in the GHG Protocol Scope 3 Guidance, five are the most relevant to our business and together they accounted for 93&nbsp;per cent of our total scope 3 emissions of
approximately 3.7&nbsp;million tonnes of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e in 2024. They include Category 1: Purchased goods and services, Category 2: Capital goods, Category 3: Fuel and energy-related activities, Category
11: Use of sold products, and Category 15: Investments. These emissions received limited assurance by a third-party provider.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M107</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table details our total scope 3 GHG emissions
in million tonnes of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e. Some values do not sum to the indicated total due to rounding of tabulated emissions. Zeros (0.0) indicate truncated values. </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="69%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Category 1: Purchased goods and services<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Category 2: Capital goods<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Category 3: Fuel and energy-related activities<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Category 11: Use of sold products<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Category 15: Investments<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1.7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Other relevant categories<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #000000;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Total scope 3 GHG emissions</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #000000;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #000000;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;" ALIGN="right"><FONT COLOR="#636466">3.7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #000000;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;" ALIGN="right"><FONT COLOR="#636466">3.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Category 1: Purchased goods and services includes emissions associated with the purchase of goods
and services described as operating expenses. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Category 2: Capital goods includes emissions associated with the purchase of capital goods and
services described as capital expenditures. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Category 3: Fuel and energy-related activities includes emissions associated with the extraction,
production of all fuels consumed and midstream transportation of natural gas (pipeline). Excludes the emissions associated with electricity purchased from the grid as they have been accounted for in our scope 2 GHG emissions, but accounting for the
transmission and distribution losses. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Category 11: Use of sold products includes emissions associated with natural gas combustion
during electricity production where the sales and delivery of physical natural gas occur. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Category 15: Investments includes scope 1 and 2 GHG emissions (on an equity basis) from our
assets that are owned (as a joint venture or other ownership structure) but not operated by TransAlta. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(6)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other relevant categories include Category 4: Upstream transportation and distribution, Category
5: Waste generated in operations, Category 6: Business travel, Category 7: Employee commuting, Category 9: Downstream transportation and distribution, and Category 10: Processing of sold products. These emissions were estimated based on best
available information and did not receive limited assurance by a third-party provider. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Avoided Emissions </B></FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, production from renewable assets resulted in the avoidance of approximately 2.8&nbsp;million tonnes of CO<SUB
STYLE="font-size:75%; vertical-align:bottom">2</SUB>e for our customers. TransAlta&#8217;s avoided emissions are defined as the sum of the displaced emissions by our renewable assets in the jurisdictions where we operate. </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The value is calculated as the product of the generation of electricity obtained from
a renewable source (hydro, wind and solar) and the specific CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB> emissions intensity from the grid of the jurisdiction in which we operate. Avoided emissions increased in 2024 compared to 2023
primarily due to an increase in renewable fleet generation. </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table highlights our avoided emissions in million tonnes of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="69%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Total GHG emissions avoided</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2.3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2.7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M108</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Sustainable Finance
</B></FONT></P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Sustainable finance is the process of taking due account of ESG considerations (e.g.,
climate change, biodiversity, human rights, etc.) when making investment decisions. Sustainable finance is a key pillar of TransAlta&#8217;s Climate Transition Plan. This means that we may choose to utilize pools of capital available to sustainable
economic activities and projects to finance our energy transition. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta deploys green and sustainable financing to
build our renewable energy fleet. This supports our goal to deliver on our customers&#8217; needs for renewable electricity. Since 2020, we have issued $726&nbsp;million in green bonds and converted our four-year, $2.0&nbsp;billion revolving credit
facility, into a sustainability-linked loan. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2022, TransAlta issued US$400&nbsp;million ($533 million) in Senior
Green Bonds, and an amount equal to the net proceeds from the bonds has been allocated to finance or
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
refinance new and/or existing eligible green projects. The bonds were issued under TransAlta&#8217;s Green Bond Framework, which aligns with the Green Bond Principles published by the
International Capital Market Association. For further information, refer to Green Bond Framework in the Shareholder Information section of the Investor Centre on our website. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2021, TransAlta converted an existing $1.3&nbsp;billion syndicated revolving credit facility into a sustainability-linked loan.
The loan aligns the cost of borrowing to the Company&#8217;s GHG emissions reductions and gender diversity targets. Sustainability-linked loans are any types of loan instruments and/or contingent facilities (such as bonding lines, guarantee lines or
letters of credit) that incentivize the borrower&#8217;s achievement of ambitious, predetermined sustainability performance objectives. </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The summary
below shows the carrying value of the issued green bonds and the total committed facility size of our ESG financial operations portfolio. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="69%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>As at Dec. 31 (in millions of Canadian dollars)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Green bonds <SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>726</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">684</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">703</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Sustainability-linked loans</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #000000;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,950</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,950</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,250</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Green bonds are related to the Senior Green Bonds issued in 2022. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M109</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Climate-Related Financial Metrics </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The results of TransAlta&#8217;s 2021 climate-related scenario analysis, aligning
with a 1.5&deg;C warmer world, have shown that opportunities to grow the renewable fleet exist across all scenarios and locations. Our revenue from renewable energy generation (hydro, wind and solar) in 2024 was $839&nbsp;million (2023 &#8211; $902
million). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, our growth capital expenditures for renewable energy generation were $61&nbsp;million (2023 &#8211;
$630 million). In addition, TransAlta continues to invest in emerging abatement technologies and solutions. In 2024, our investments in <FONT STYLE="white-space:nowrap">low-carbon</FONT> research and development were $8&nbsp;million (2023 &#8211; $4
million). </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, adjusted EBITDA from renewable energy generation was $632&nbsp;million (2023
&#8211; $716 million). Our renewable fleet makes our overall portfolio more resilient to climate-related risks, provides increased flexibility in generation and creates incremental environmental value through environmental attributes. Our revenue in
2024 from environmental attribute sales was $79&nbsp;million (2023 &#8211; $36 million). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The disclosure of
TransAlta&#8217;s financial metrics related to our climate-related risks and opportunities partially aligns with the IFRS S2 and TCFD recommendations. </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A summary of our
climate-related financial metrics is presented below. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="69%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31 (in millions of Canadian dollars)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Growth capital expenditures for renewable energy generation<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>61</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">630</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">666</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Renewable energy adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>632</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">716</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">860</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Environmental and tax attributes revenue<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>79</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Renewable energy revenue<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>839</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">902</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,014</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Investments in <FONT STYLE="white-space:nowrap">low-carbon</FONT> research and
development<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #000000;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #000000;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Growth capital expenditures include amounts deployed for growth projects and acquisitions related
to renewable energy generation. This includes the Garden Plain wind project and the Northern Goldfields solar project, both completed in 2023, and the White Rock and Horizon Hill wind projects, both completed in 2024. This excludes the Mount Keith
transmission expansion and Mount Keith west network upgrade projects. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA from renewable energy generation includes hydro, wind, solar and battery storage
facilities. The renewable energy adjusted EBITDA is the total adjusted EBITDA of the Hydro and Wind and Solar segments. These items are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented
by other issuers. During 2024 our adjusted EBITDA composition was amended to exclude the impact of Brazeau penalties and related provisions. Therefore, the Company has applied this composition to all previously reported periods. Refer to the
Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures and Segmented Financial Performance and Operating Results sections of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Environmental and tax attributes revenue represents a full amount of hydro, wind and solar
environmental credit sales, including intercompany sales. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted revenue from renewable energy generation includes hydro, wind, solar and battery storage
facilities. For details of the adjustments to revenues included in adjusted EBITDA refer to the Additional IFRS and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Investments in <FONT STYLE="white-space:nowrap">low-carbon</FONT> research and development
include our equity investment in Ekona Power Inc.&#8217;s (Ekona) Series A funding round and our four-year investment in EIP&#8217;s Deep Decarbonization Frontier Fund 1 (the Frontier Fund). </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M110</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Alignment with Climate-Related Disclosures Frameworks </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The table below shows the partial alignment of our climate change management disclosure with TCFD and IFRS S2 recommendations.
</FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="43%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="23%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="30%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#171a5f"><B>TCFD Recommended Disclosures</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#171a5f"><B>Other Alignments</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#171a5f"><B>Location</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Governance</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Describe the board&#8217;s oversight of climate-related risks and opportunities</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">IFRS S2: 6</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Oversight by the Board
of&nbsp;Directors</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Describe management&#8217;s role in assessing and&nbsp;managing climate-related risks and&nbsp;opportunities</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">IFRS S2: 6</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Role of Senior
Management</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Strategy</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Describe the climate-related risks and opportunities the organization has identified over the short, medium and long term</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">IFRS S2:
<FONT STYLE="white-space:nowrap">8-9</FONT></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Key Scenario Findings</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Describe the impact of climate-related risks and opportunities on the organization&#8217;s businesses, strategy and financial planning</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">IFRS S2:
<FONT STYLE="white-space:nowrap">8-9</FONT></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Climate Change Strategy, Key Climate
Scenario Findings</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Describe the resilience of the organization&#8217;s strategy, taking into consideration different climate-related scenarios, including a 2&deg;C or
lower&nbsp;scenario</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">IFRS S2:
<FONT STYLE="white-space:nowrap">22-23</FONT></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Climate Scenarios, Key Climate Scenario
Findings</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Risk management</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Describe the organization&#8217;s processes for identifying and assessing climate-related risks</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">IFRS S2: 10</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Climate Change Strategy</FONT></P></TD></TR>

<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Describe the organization&#8217;s processes for managing climate-related risks</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">IFRS S2:
<FONT STYLE="white-space:nowrap">24-25</FONT></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Managing Climate Change Risks and
Opportunities</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Describe how processes for identifying, assessing and managing climate-related risks are integrated into the organization&#8217;s overall risk
management</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">IFRS S2:
<FONT STYLE="white-space:nowrap">24-25</FONT></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Managing Climate Change Risks and
Opportunities</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Metrics and targets</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management
process</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">IFRS S2:
<FONT STYLE="white-space:nowrap">27-28</FONT></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Climate Change Metrics and
Targets</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Disclose scope 1, scope 2 and, if appropriate, scope&nbsp;3 greenhouse gas (GHG) emissions and the related risks</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">IFRS S2:
<FONT STYLE="white-space:nowrap">29-32</FONT></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Climate Change Metrics and
Targets</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">IFRS S2:
<FONT STYLE="white-space:nowrap">33-36</FONT></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Climate Change Metrics and
Targets</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M111</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_29"></A>Enabling Innovation and Technology Adoption
</B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta has been at the forefront of innovation in the power-generation sector
since the early 1900s when we developed our first hydro facilities. We have been an early adopter and developer of wind technology, including the first commercial wind facility in Canada, and are now one of the largest wind generators in the
country. In 2015, we made our first investment in solar technology in Massachusetts, in 2020, we installed the first utility-scale battery in Alberta and, in 2023, completed our first solar microgrid with battery energy storage system in Western
Australia. This section covers manufactured and intellectual capital management partially in alignment with guidance from the IFRS&#8217;s Integrated Reporting Framework. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Our Energy Innovation Team </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">In 2021, we established an Energy Innovation team to investigate, prioritize and deploy new <FONT STYLE="white-space:nowrap">net-zero</FONT> electricity generation technologies that address reliability, decarbonization and
affordability. The Energy Innovation team is focused on identifying projects that complement our hydro, wind and solar assets to deliver reliable and <FONT STYLE="white-space:nowrap">low-carbon</FONT> electricity to customers. The Energy Innovation
team is also looking at electrification more broadly to investigate potential new, adjacent business opportunities for TransAlta. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Our Energy Innovation team participates in the Low Carbon Peer Group, a discussion forum made up of TransAlta&#8217;s peers in the electricity sector in the U.S. and Canada. We also continue to participate in the energy innovation
ecosystem through engagement with various innovation accelerators that &#8216;incubate&#8217; and accelerate <FONT STYLE="white-space:nowrap">start-ups</FONT> by matching new technology solutions with practical problems identified by <FONT
STYLE="white-space:nowrap">end-users,</FONT> like TransAlta or our customers. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Renewable Energy </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta&#8217;s nameplate capacity was 2,406 MW from wind and battery storage, 944 MW from hydro energy, and 181 MW from
solar power. In 2024, our U.S. renewables fleet represented over 1 GW. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In April 2024, the Company achieved commercial
operation of our 302 MW White Rock wind facilities, located in Oklahoma. The facilities are fully contracted to Amazon Energy LLC and currently supply clean and affordable electricity to our customer. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In May 2024, TransAlta achieved commercial operation of our 202 MW Horizon Hill wind facility, located in Oklahoma. The facility is
fully contracted to Meta Platforms Inc., which is receiving both clean electricity and environmental attributes from the facility. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">In 2023, the Garden Plain wind facility in Alberta was commissioned adding 130 MW to our gross installed capacity.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
The facility is fully contracted with Pembina Pipeline Corporation (100 MW) and PepsiCo Canada (30 MW). In addition, in 2023, the 48 MW Northern Goldfields solar and battery storage facilities in
Western Australia achieved commercial operation. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Scaling Up Energy Solutions </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Battery Storage </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">We continue to invest in battery energy storage systems as an important element to provide reliability through the energy transition &#8211; continuing an important role TransAlta has played for over 100 years with our hydro
facilities. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta&#8217;s development pipeline included four energy storage projects in Canada:
WaterCharger (project is on hold, <FONT STYLE="white-space:nowrap">lithium-ion</FONT> battery storage, 180 MW), Tent Mountain (pumped hydro storage, 160 MW), Brazeau (pumped hydro storage, <FONT STYLE="white-space:nowrap">300-900</FONT> MW) and New
Brunswick Power Battery (battery, 10 MW). These projects could play various roles on electricity grids including providing reliability services and storing surplus generation for discharge at peak periods. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2023, the Northern Goldfields solar and battery storage facilities in Western Australia achieved commercial operation. The energy
storage consists of the 10 MW/5 MWh Leinster Battery Energy Storage System which is integrated into TransAlta&#8217;s remote network. The network and new generation supports BHP Nickel West to meet its emissions reduction targets and deliver
lower-carbon nickel to its customers. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Electric Mobility </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Companies can play an important role in reducing emissions by exploring the use of electric vehicles in their own operations.
TransAlta is currently exploring the potential of electrifying our service fleet with <FONT STYLE="white-space:nowrap">zero-emission</FONT> vehicles. In 2023, we launched a pilot project called Project Electrify to test four fully-electric vehicles
at different facilities in Canada. The project will run from 2024 to 2025, during which time operators will gain <FONT STYLE="white-space:nowrap">hands-on</FONT> experience with the technology and provide feedback on whether to pursue further
electrification of our fleet. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Future Solutions </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Hydrogen </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In
2022, we announced a $2&nbsp;million equity investment in Ekona&#8217;s Series A funding round. The investment will help support the commercialization of Ekona&#8217;s novel methane pyrolysis technology platform, which produces cleaner and
lower-cost turquoise hydrogen. If successful, Ekona&#8217;s distributed technology allows for <FONT STYLE="white-space:nowrap">on-site</FONT> hydrogen
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M112</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">production, hence avoiding the need for costly transportation of hydrogen.
Furthermore, its solid carbon byproduct allows for <FONT STYLE="white-space:nowrap">low-cost,</FONT> <FONT STYLE="white-space:nowrap">low-emissions</FONT> hydrogen production without the need for carbon sequestration. TransAlta is a member of
Ekona&#8217;s Strategic Committee and continues to work with Ekona as it develops its pyrolysis technology. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Small Modular Reactors
(SMR) </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Small modular reactors have a power capacity of up to 300 MW per unit and differ from traditional nuclear in
that they modular, factory-assembled units transported to a location for installation. Additionally, they implement passive or walk-away safety features designed to dramatically reduce the risk of nuclear events. While high costs remain a challenge
for all forms of nuclear, SMR developers argue that smaller MW plants made from manufactured components will allow the industry to access steep cost declines as the technology matures and more units are deployed. By providing reliable,
emissions-free baseload power, nuclear power may play an important role in clean energy transitions. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta
announced a partnership with <FONT STYLE="white-space:nowrap">X-Energy</FONT> Reactor Company, LLC to study the deployment of <FONT STYLE="white-space:nowrap">X-Energy&#8217;s</FONT> <FONT STYLE="white-space:nowrap">Xe-100</FONT> advanced small
modular nuclear reactors in Alberta. With support from a grant from Emissions Reduction Alberta, the study will examine the feasibility of deploying <FONT STYLE="white-space:nowrap">X-Energy&#8217;s</FONT> advanced high-temperature <FONT
STYLE="white-space:nowrap">gas-cooled</FONT> small modular nuclear reactor at an existing <FONT STYLE="white-space:nowrap">coal-to-gas</FONT> plant in Alberta. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta continues to monitor developments in SMR and explore the benefits of carbon dioxide removal options to support the <FONT
STYLE="white-space:nowrap">net-zero</FONT> transition of our operations, such as nature-based solutions, direct air capture, carbon capture, utilization and storage, and other technologies. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Hybrid Hydro Supercapacitor Energy Storage </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta launched a project with Atlas Power Technologies Inc. for a hybrid hydro supercapacitor energy storage system,
which is expected to be the first of its kind in North America. With support from a grant from Emissions Reduction Alberta, the project is complementary to an existing hydroelectric generating station that augments the power plant&#8217;s response
time and capability to address frequency response needs.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Disruptive Technologies </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2022, we entered into a commitment to invest US$25&nbsp;million over the next four years in Energy Impact Partners&#8217; (EIP)
Deep Decarbonization Frontier Fund 1 (the Frontier Fund) that invests in early-stage, innovative technology companies that seek to accelerate the transition to <FONT STYLE="white-space:nowrap">net-zero</FONT> GHG emissions. TransAlta&#8217;s
investment in the Frontier Fund provides TransAlta with the opportunity to pool funds with some of the largest utilities in the U.S. and Europe to identify, pilot, commercialize and bring to market technologies that will support its decarbonization
goals. In total, the Company invested US$12&nbsp;million to this fund as at Dec. 31, 2024. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Fusion </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fusion technologies attempt to recreate the fusion reactions in the sun by fusing two hydrogen molecules together. If successful,
fusion promises <FONT STYLE="white-space:nowrap">low-cost</FONT> energy, with far shorter-lived nuclear waste. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Through
EIP, TransAlta has invested in ZAP Energy, a leading fusion startup. ZAP Energy&#8217;s technology stabilizes the hydrogen plasma using sheared flow (driving current through the flow creating the magnetic field confining and compressing the plasma)
rather than magnetic fields. In 2022, ZAP announced it will conduct a feasibility study of retrofitting our retired Big Hanaford gas plant located in Centralia to host its <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">first-of-a-kind</FONT></FONT></FONT> <FONT STYLE="white-space:nowrap">Z-pinch</FONT> fusion pilot plant. In 2024, ZAP received a second grant in the same amount of US$1&nbsp;million from the Centralia Coal Transition
Grants Energy Technology Board as part of energy transition investments to move away from coal in Washington State. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For
more information on our investments in <FONT STYLE="white-space:nowrap">low-carbon</FONT> research and development, refer to the Climate-Related Financial Metrics section of this MD&amp;A.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M113</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_30"></A>Managing Environmental Resources
</B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We continue to increase financial value from natural or environmental capital-related
business activities, while striving to minimize our environmental footprint and potential risk factors related to environmental impacts. This section covers natural capital management partially in alignment with guidance from the IFRS&#8217;s
Integrated Reporting Framework. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Environmental Strategy </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">All energy sources used to generate electricity impact the environment. While we are pursuing a business strategy that includes
investing in renewable energy resources such as wind, hydro and solar, we also believe that natural gas will continue to play an important role in meeting energy needs. In 2026, we expect that our generation mix will be made up of natural gas and
renewable energy only. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Environmental Policy defines how we are integrating the protection of nature and the
environment within TransAlta&#8217;s strategy, our Total Safety Management System, as well as the principles of conduct for the management of natural resources. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Environmental Management System </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">At TransAlta, we operate our facilities in line with best practices related to environmental management standards. Our environmental management processes are verified annually to ensure we continuously improve our environmental
performance. Our knowledge of environmental management systems (EMS) has matured since we aligned our processes in accordance with the internationally recognized ISO 14001 EMS standard. Currently, the most material natural or environmental capital
impacts to our business are GHG emissions, air emissions (i.e., pollutants) and energy use. Other material impacts that we manage and track performance on via our environmental management practices include land use, water use, waste management and
biodiversity. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition to our environmental management practices, we are subject to environmental laws and
regulations that affect aspects of our operations, including air emissions, water quality, wastewater discharges and the generation, transport and disposal of waste and hazardous substances. The Company&#8217;s activities have the potential to
damage natural habitat, impact vegetation and wildlife, or cause contamination to land or water that may require remediation under applicable laws and regulations. These laws and regulations require us to obtain and comply with a variety of
environmental registrations, licences, permits and other approvals. The environmental regulations in the jurisdictions in which we operate are robust. Both public officials and private individuals may seek to enforce environmental
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
laws and regulations against the Company. We interact with a number of regulators on an ongoing basis. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Nature-Related Risks and Opportunities </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Nature-related risks may exist based on a Company&#8217;s
dependencies on and impacts to biodiversity, ecosystems and ecosystem services (BEES) and could result in nature-related events. These events could impact resource availability and sustainability, disrupt the supply chain necessary for successful
operations, have negative regulatory compliance implications and cause reputational damage. Nature-related opportunities might exist when supporting or enhancing BEES, to the benefit of business operations. These opportunities can include accessing
healthy, natural resources (i.e., soil and water), supporting a resilient ecosystem that is less prone to fluctuations (e.g., drought, flooding and erosion) and enhancing tourism and recreational opportunities. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Overseeing Nature-Related Issues </B></FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta&#8217;s GSSC assists the Board in fulfilling its oversight responsibilities with respect to the Company&#8217;s monitoring of environmental regulations, public policy changes and the development of strategies, policies and
practices for the environment. For further information, refer to the Sustainability Governance section of this MD&amp;A. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Assessing
Nature-Related Dependencies and Impacts </B></FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta conducted our first nature-related risks and
opportunities assessment, achieving our 2022 sustainability target to &#8220;assess and disclose nature-related risks and opportunities including TransAlta&#8217;s dependencies and impacts on ecosystems, land, water and air&#8221; by 2024.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We chose to follow the TNFD recommendations where possible, as a commitment to using internationally recognized
methodologies. The analysis utilized the TNFD guidance on assessing nature-related issues&#8212;the Locate, Evaluate, Assess, Prepare (LEAP) approach&#8212;in conjunction with the TNFD Additional Sector Guidance &#8211; Electric Utilities and Power
Generators (June 2024). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Methods applied include the review of environmental evaluations, permits and monitoring reports,
the collection of environmental and geospatial data, the use of the TNFD data tools and the review of findings by internal and external subject matter experts. In addition, we adopted a TNFD scenario that projects moderate nature-related risks to
business operations over the next 20 years, driven by gradual ecosystem degradation, climate change and shifting customer and shareholder expectations. This analysis excluded projections of physical risks related to climate change.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M114</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Given the large number of TransAlta&#8217;s assets, a subset of facilities was
selected and included over 3,100 MW of nameplate capacity from hydro, wind, solar, natural gas and coal facilities in Canada, the U.S. and Western Australia. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following sections highlight TransAlta&#8217;s top dependencies, impacts, risks, opportunities and mitigation measures related
to nature. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Material Dependencies </B></FONT></P>
<P STYLE="margin-top:1pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We identified where and how the Company&#8217;s operations may interface with nature and determined whether those interfaces are
material. This means that our goal was not to understand or evaluate every potential issue, but rather focus on ecosystem services considered material to the operation of our selected facilities.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our most material dependencies are associated with the regulation of the climate and
climatic events, the use of water in production cycles, mainly in <FONT STYLE="white-space:nowrap">gas-</FONT> and coal-fired power generation and the regulation of the water cycle, which enables the operation of hydroelectric facilities.
</FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For further information on climate change, refer to the section Managing Climate Change Risks and Opportunities. of this
MD&amp;A. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s nature-related dependencies found to be material are summarized in the table below.
</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Material Dependencies by
Generation Type </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="53%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Ecosystem service<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas&nbsp;and&nbsp;coal</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Groundwater</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VL</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Surface water</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VL</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Water supply</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VL</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">H</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Water flow regulation</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Climate regulation<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VL</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Flood and storm protection</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">H</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Soil stabilization and erosion control</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">H</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">M</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">M</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">L</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="justify"><FONT COLOR="#171a5f">Legend: (VL) Very Low, (L)&nbsp;Low, (M) Medium, (H)&nbsp;High, (VH) Very High and (NA) Not
Applicable, as defined by the TNFD Additional Sector Guidance - Electric Utilities and Power Generators (June 2024). </FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The use of renewable resources (wind and solar radiation) and mineral resources (natural gas and
coal), water flow regulation, flood and storm protection, and soil stabilization and erosion control are material to our operations but were excluded from this analysis because associated metrics were not available at an international scale.
Facilities have locally mandated controls to manage risks, including engineering solutions built into the design phase. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Climate regulation services are the ecosystem contributions to the regulation of ambient
atmospheric conditions and were excluded from this analysis because they are discussed in the section Managing Climate Change Risks and Opportunities. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Material Impact Drivers </B></FONT></P>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Impact drivers are a measurable quantity of a natural resource that is used as an
input to production (e.g., the volume of water consumed) or a measurable <FONT STYLE="white-space:nowrap">non-product</FONT> output of a business activity (e.g., a kilogram of NOx emissions released into the atmosphere). </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The analysis of TransAlta&#8217;s material impact drivers included the assessment of 26 metrics related to land use, water, air
emissions, GHG emissions, waste, species at risk, invasive alien species and enforcement actions or fines.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our material nature-related impact drivers are associated with GHG emissions and the
use of water as summarized in the table below. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M115</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Material Impact Drivers by Generation Type </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="53%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Impact driver<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas&nbsp;and&nbsp;coal</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Land use change</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">H</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Freshwater use change</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">H</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Water use</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">GHG emissions</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">L</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-GHG</FONT> emissions</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">VH</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Water/soil pollutants</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">H</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">L</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">L</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Solid waste</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">L</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">L</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">L</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">H</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Area of land use</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">H</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">L</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">Area of freshwater use</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">H</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">M</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Biological alterations<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">H</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">NA</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">NA</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="justify"><FONT COLOR="#171a5f">Legend: (L)&nbsp;Low, (M) Medium, (H)&nbsp;High, (VH) Very High and (NA) Not Applicable, as defined
by the TNFD Additional Sector Guidance - Electric Utilities and Power Generators (June 2024). </FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Noise and light disturbances are material to our operations but were excluded from this analysis
because mitigations are built into project design and monitored during operations, in accordance with applicable regulatory requirements in the jurisdictions in which we operate. The state of nature (e.g., species extinction risk, direct mortality,
fisheries risk and incidents related to birds, bats, fish and others) is material to our operations but was not included in this table because the TNFD has not provided the associated materiality ratings. Metrics related to the state of nature were
included in our analysis and are summarized under the Biodiversity heading in the Environmental Performance section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Biological alterations or interferences include the impact from activities that directly
introduce nonnative invasive species into areas of operation. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Potential Risks, Opportunities and Mitigation
Measures </B></FONT></P>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Nature-related risks are the potential threats posed to an organization linked to its
dependencies on nature and its impacts on nature. These can derive from physical and transition risks. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The analysis of
TransAlta&#8217;s nature-related risks and opportunities was conducted with a focus on physical risks. These risks were evaluated to help us understand how our operations result in changes in the state of nature and how this affects ecosystem
service provision. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Transition risks such as regulatory and policy, reputation, market and technology risks related to
the Company are discussed in the Governance and Risk Management section of this MD&amp;A. Transition risks related to climate change are disclosed in the Managing Climate Change Risks and Opportunities section of this MD&amp;A.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Nature-related opportunities are activities that create positive outcomes for
organizations and nature by avoiding or reducing impact on nature, or contributing to its restoration. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The metrics we
use to assess and manage material nature-related dependencies and impacts as well as risks and opportunities in line with its strategy and risk management process can be found in the Environmental Performance section of this MD&amp;A. Current and
future nature-related targets can be found in the Our 2024 Sustainability Performance and 2025+ Sustainability Targets sections of this MD&amp;A.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M116</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s nature-related risks and opportunities and
their mitigation measures are summarized in the following table. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>Identified Potential Risks and Opportunities and Mitigation
Measures </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Potential risks</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Mitigation measures and opportunities</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Substantial alteration of natural water flow regimes is typical, leading to
major changes in water levels, flow timing and velocity.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Two facilities are located within 35 km of a World Heritage site as defined by the United Nations Educational, Scientific and Cultural Organization (UNESCO). These facilities are not within 35 km of Key Biodiversity
Areas.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Minimal impact related to land
pollution, including spills, may occur.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Facilities are located in areas with very low to low water stress, as determined by the Aqueduct Water Risk Atlas.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Some facilities are located within critical habitat for species at risk. While there is potential for fish mortality, species
extinction risk and mortality risk related to species listed by the International Union for Conservation of Nature (IUCN) are minimal.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Typically, there is minimal impact from the emissions of GHG, SO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>, NO<SUB
STYLE="font-size:75%; vertical-align:bottom">x, </SUB>particulate matter and mercury.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Most facilities maintain minimum or riparian flows to help support fish
habitats despite the fluctuations in natural water flows. These measures aim to moderate the effects of dam operations on local water systems and wildlife.</FONT></P>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Cascade (36 MW) and Spray (112 MW)
facilities are located within the Canadian Rocky Mountain Parks (UNESCO World Heritage Site). Cascade is located in and Spray is adjacent to Banff National Park. These facilities are Ecologo certified. This means that their energy products or
services have undergone third-party testing for reduced impacts on aquatic, riparian and terrestrial ecosystems.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2021, we renewed our previous agreement with the Government of Alberta for another five years to manage water flow on the Bow
River at our Ghost Reservoir facility to aid in potential flood mitigation efforts, as well as at our Kananaskis River System (which includes the Interlakes, Pocaterra and Barrier hydroelectric plants) for drought mitigation efforts.</FONT></P>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta signed onto a voluntary
water-sharing memorandum of understanding with over 30 other water licence holders in the Bow River Basin in Alberta. Due to its role managing water storage and water flows in the Bow River system for power generation, drought prevention and flood
control, the Company collaborates with other downstream water licence holders to manage water flows.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Wind</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">No measurable impact on water natural flow
regimes. Facilities are located in areas with very low to moderate water stress.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Some facilities are located within a Key Biodiversity Area, but not within 35 km of UNESCO World Heritage sites. Minimal impact
related to land pollution, including spills, may occur. While there is potential for wildlife mortality, species extinction risk and mortality risk related to IUCN-listed species are minimal to low.</FONT></P>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Typically, there is minimal impact from the
emissions associated with wind facilities.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Wind facilities can be associated with bird
and bat mortalities. Given this, our wind facilities are required to complete post-construction mortality monitoring for a set number of years after the start of operations. If mortality exceeds acceptable levels, additional monitoring and
mitigation measures are usually required (e.g., curtailment).</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Further information on mortality of species at risk can be found under the Biodiversity heading in the Environmental Performance
section of this MD&amp;A.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">No measurable impact on water natural flow
regimes. Facilities are located in areas with moderate water stress. Minimal impact related to land pollution, including spills, may occur.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Some facilities are located within a Key Biodiversity Area, but not within 35 km of UNESCO World Heritage sites. While there is
potential for wildlife mortality, species extinction risk is minimal. Mortality risk related to IUCN-listed species is moderate.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Typically, there is minimal impact from the emissions associated with solar facilities.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Facilities are located in areas with moderate
water stress. However, their water use is minimal.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Typically, solar facilities can have high impacts on land use and land use change. These impacts could be reduced if facilities are small in size. This is the case with our North Carolina solar facility (122 MW), which is composed
of 20 small sites throughout the state.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Further information on mortality of species at risk can be found under the Biodiversity heading in the Environmental Performance section of this MD&amp;A.</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M117</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>Identified Potential Risks and Opportunities and Mitigation Measures
(Continued) </B></FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Potential risks</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Mitigation measures and opportunities</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Natural gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Some modification of water flow, affecting
specific local stretches of water bodies is typical. Seasonal or operational impacts on flow may exist but are limited in scope and duration. Most facilities are located in areas with low water stress, but our Western Australian operations are
located in areas with very high water stress.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Facilities are not located within 35 km of Key Biodiversity Areas or UNESCO World Heritage sites. Minimal impact related to land pollution, including spills, may occur. Facilities are not located within critical habitat for species
at risk. Species extinction risk and mortality risk related to IUCN-listed species are minimal to moderate.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">High to major impacts from the emissions of GHG, NO<SUB STYLE="font-size:75%; vertical-align:bottom">x</SUB> and particulate matter
are typical, with minimal impact from SO<SUB STYLE="font-size:75%; vertical-align:bottom">2 </SUB>and mercury.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Water for gas operations is withdrawn
primarily from rivers where we hold permits and must therefore adhere to regulations on the quality of discharged water.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our largest water withdrawal and discharge occurs at our Sarnia gas cogeneration facility (which produces both electricity and steam
for our customers). The facility operates as a once-through, <FONT STYLE="white-space:nowrap">non-contact</FONT> cooling system for our steam turbines. In 2024, we returned approximately 97&nbsp;per cent of the water withdrawn from the adjacent St.
Clair River to support our Sarnia operations.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Our facilities in Western Australia have been designed to minimize water consumption. Water supply at these facilities is provided at no cost under PPAs with our mining customers, hence our risk is significantly mitigated. Water
used in our operations is returned to our customers, who repurpose this water for vegetation and dust suppression in their mining operations. In addition, the South Hedland facility has developed a Water Efficiency Management Plan with Water
Corporation WA, the principal supplier of water, wastewater and drainage services in Western Australia. Initiatives are aimed at reducing water consumption and costs through innovative technology and efficiencies identified through facility
management.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2022, we met our 2026
targets to achieve a 95 per cent reduction of SO<SUB STYLE="font-size:75%; vertical-align:bottom">2 </SUB>emissions and an 80&nbsp;per cent reduction of NO<SUB STYLE="font-size:75%; vertical-align:bottom">x </SUB>emissions below 2005 levels and we
retained the achievement over 2023 and 2024.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">We continue to progress towards our 2026 target to reduce scope 1 and 2 GHG emissions by 75&nbsp;per cent from 2015 levels. Since 2015, we have reduced scope 1 and 2 GHG emissions by 22.7 MT CO<SUB
STYLE="font-size:75%; vertical-align:bottom">2</SUB>e or 70&nbsp;per cent.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Coal</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s sole remaining coal-fired
generation facility, Centralia, is located in an area with very low water stress. Some modification of water flow, affecting specific local stretches of water bodies is typical. Seasonal or operational impacts on flow may exist but are limited in
scope and duration.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Centralia is not
located within 35 km of Key Biodiversity Areas or UNESCO World Heritage sites. Minimal impact related to land pollution, including spills, may occur. Centralia is not located within critical habitat for species at risk. Species extinction risk and
mortality risk related to IUCN-listed species are minimal.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Typically, there is major impact from the emissions of GHG, SO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>, NO<SUB STYLE="font-size:75%; vertical-align:bottom">x, </SUB>particulate matter and mercury.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta historically operated three coal
mines. The Whitewood mine in Alberta is completely reclaimed and the land was donated to the community. Further information can be found in the Case Study: TransAlta&#8217;s Donation to the Alberta Conservation Association in the Community
Investments section of this MD&amp;A.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Highvale mine in Alberta closed in 2021 and the Centralia mine in Washington State closed in 2006. Both Highvale and Centralia
are actively reducing their footprint through site reclamation, with targeted completion by 2046 and 2040 respectively.</FONT></P> <P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2021, we retired or converted all coal plants in Canada to
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-fired</FONT></FONT> generation. We plan to cease coal-fired generation at our Centralia plant in the U.S. by Dec.&nbsp;31, 2025.</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M118</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#40ac48"><B>Environmental Performance </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our performance on managing environmental aspects is presented in the following sections and excludes the acquisition of Heartland
Generation on Dec. 4, 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Energy Use </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta uses energy in a number of different ways. We burn natural gas, diesel and coal to generate electricity. We plan to cease
coal-fired generation at Centralia by the end of 2025. We harness the kinetic energy of water and wind
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
to generate electricity. We also generate electricity from the sun. In addition to combustion of fuel sources, we also track combustion of gasoline and diesel in our vehicles and the electricity
use and fuel use for heating (such as natural gas) in the buildings we occupy. Knowledge of how much energy we use allows us to optimize and create energy efficiencies. As an electricity generator, we continually and consistently look for ways to
optimize and create efficiencies related to the use of energy. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table captures our energy use (petajoules). Energy use decreased by 11&nbsp;per cent in 2024 over 2023. Some values do not sum to the indicated total due to rounding. Zeros (0)&nbsp;indicate truncated values. </FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Hydro</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Wind and Solar</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Gas</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>122</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">123</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">130</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Energy Transition</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">73</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">64</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Corporate and Energy Marketing</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Total energy use (petajoules)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>175</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">197</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">195</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Air Emissions </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our one remaining coal-fired facility emits air emissions that we track, analyze and
report to regulatory bodies. We also work on mitigation solutions depending on the type of air emission. We report our major air emissions from coal, which include NO<SUB STYLE="font-size:75%; vertical-align:bottom">x</SUB>, SO<SUB
STYLE="font-size:75%; vertical-align:bottom">2</SUB>, particulate matter and mercury. We continue reducing air emissions in our existing facilities through our conversion and retirement of coal units in Alberta (completed in 2021) and Washington
State (planned completion by the end of 2025). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2022, we achieved our 2026 target of 95&nbsp;per cent SO<SUB
STYLE="font-size:75%; vertical-align:bottom">2</SUB> and 80&nbsp;per cent NO<SUB STYLE="font-size:75%; vertical-align:bottom">x</SUB> emissions reductions over 2005 levels. In 2025, TransAlta set a new target &#8220;By 2030, achieve a 90&nbsp;per
cent reduction of SO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB> emissions intensity from 2023 base year&#8221;. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">As per guidance from SASB, detailed air emissions disclosure is required when a facility is located within 49 kilometres of an area with a population greater than 50,000 persons.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Many of our gas facilities are located in very remote and unpopulated regions, away
from dense urban areas. However, our Sarnia, Windsor, Ottawa, Fort Saskatchewan and Ada gas facilities and Centralia coal facility are located within 49 kilometres of dense or urban environments. In 2024, these facilities accounted for 41&nbsp;per
cent of total NO<SUB STYLE="font-size:75%; vertical-align:bottom">x</SUB>, 99&nbsp;per cent of total SO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>, 31&nbsp;per cent of total particulate matter and 56&nbsp;per cent of total mercury.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our total air emissions in 2024 show a decrease of 18&nbsp;per cent for SO<SUB
STYLE="font-size:75%; vertical-align:bottom">2</SUB> and 18&nbsp;per cent for NO<SUB STYLE="font-size:75%; vertical-align:bottom">x</SUB> from 2023 levels. This is primarily due to the decrease in production from our coal facility.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M119</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table represents our material air emissions.
Figures have been rounded for SO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB> (to the nearest one hundred), NO<SUB STYLE="font-size:75%; vertical-align:bottom">x</SUB> (to the nearest one thousand), particulate matter (to the nearest
ten, when possible) and mercury (to the nearest whole number). </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="69%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;SO<SUB STYLE="font-size:75%; vertical-align:bottom">2 </SUB>(tonnes)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>870</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,200</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;NO<SUB STYLE="font-size:75%; vertical-align:bottom">x </SUB>(tonnes)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8,700</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">11,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">11,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Particulate matter (tonnes)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>320</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">460</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">360</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Mercury (kilograms)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Water </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our principal water use is for cooling and steam generation in our coal and gas
facilities, but our hydro operations also require water flow for operations. Water for coal and gas operations is withdrawn primarily from rivers where we hold permits and must therefore adhere to regulations on the quality of discharged water. The
difference between withdrawal and discharge, representing consumption, is due to several factors, which include evaporation loss and steam production for customers, which we are unable to recover. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2022, we achieved our water consumption reduction target to reduce fleet-wide water consumption (withdrawals minus discharge) by
20&nbsp;million m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP> or 40 per cent in 2026
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
over the 2015 baseline. Water consumption in 2015 was 45&nbsp;million m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP>. This target is in line with the UN SDGs, specifically &#8220;Goal 6:
Clean Water and Sanitation.&#8221; In 2024, we retained the achievement of this target. In 2025, TransAlta set a new target &#8220;By 2030, maintain water consumption intensity at 2023 levels&#8221;. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, we withdrew approximately 237&nbsp;million m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP> (2023 &#8211;
273&nbsp;million m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP>) and returned approximately 212&nbsp;million m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP> (2023 &#8211; 239&nbsp;million m<SUP
STYLE="font-size:75%; vertical-align:top">3</SUP>) or 90&nbsp;per cent. Overall, water consumption was approximately 25&nbsp;million m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP> (2023 &#8211; 34&nbsp;million m<SUP
STYLE="font-size:75%; vertical-align:top">3</SUP>). </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table represents our water withdrawal, water discharge and total water consumption (million m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP>). Some values do not sum to the indicated total due to rounding. Figures below have been rounded to
the nearest million m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP>. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="72%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Water withdrawal</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>237</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">273</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">233</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Water discharge</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>212</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">239</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">207</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Total water consumption (million m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP>)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>25</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Dam Safety </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our dam safety programs include all hydroelectric developments, constructed ponds and fluid retaining structures such as ash lagoons
and canals, as well as associated equipment and structures and the personnel required to operate, maintain and inspect these items. They are governed through our Dam Safety Policy and Dam Safety Management System, which includes requirements on
design, modification and decommissioning, operation, maintenance and surveillance, public safety, emergency management and risk management. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta&#8217;s Board and its President and CEO oversee the effectiveness of our dam safety programs and receive regular updates. In 2022, a member of the Board was designated as the Company&#8217;s Dam Safety Advisor to assist
the Board in fulfilling its oversight role in regard to the Company&#8217;s dam safety practices given the unique and technical aspects of dam safety. In addition, TransAlta engages an external Dam Safety Review Panel to provide external review of
the
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
program and its management, including overall assessment and benchmarking against other national and international programs. Our monitoring programs include: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Regular operations and engineering inspections; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Testing critical equipment; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Numerous instruments in the dams monitoring water level, temperature, movement, earthquake
detection; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Use of drones and satellite remote movement monitoring; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Emergency plans and exercises with internal and external stakeholders; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Regular third-party reviews that are shared with the regulators. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We work closely with local stakeholders including conservation authorities and public agencies on watershed management, emergency
planning and flood response. In 2022, we started decommissioning the Keephills Ash
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M120</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lagoon, a facility that is no longer needed for ash storage following the <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">coal-to-gas</FONT></FONT> conversion of Keephills Unit 2. This project will reshape the existing lagoon so that it is stable for the long term and is the first step towards decommissioning
the structure. Similar work is underway to remove the coal combustion waste storage ponds at the Centralia facility in Washington State. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta is proud of its reputation in dam safety. We participate in many industry associations including the Canadian Dam Association, Dam Safety Interest Group of the Centre for Energy Advancement through Technological
Innovation, United States Society on Dams, Canadian Geotechnical Society, Dam Safety Advisory Committee of the Alberta Chamber of Resources and Association of State Dam Safety Officials. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For information on our corporate emergency management program, refer to Public Health and Safety in the Engaging with Our
Stakeholders to Create Positive Relationships section of this MD&amp;A.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Waste </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The importance of environmental protection and waste management is outlined in our Environmental Policy as a corporate
responsibility for TransAlta and its employees, and contractors working on TransAlta&#8217;s behalf. Our waste data is reported annually to a number of different regulatory bodies. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, our operations generated approximately 384,000 tonnes equivalent of waste (2023 &#8211; 479,000 tonnes). Of the total waste
generated, 98&nbsp;per cent was <FONT STYLE="white-space:nowrap">non-hazardous</FONT> waste and zero per cent was directed to landfill (2023 &#8211; 0.2 per cent). Since its retirement, we have been selling ash from our Highvale and Centralia Mine,
which accounts for 97&nbsp;per cent of the total waste generated. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table represents our total waste generation (tonnes equivalent). Figures have been rounded to the nearest one thousand. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="72%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Waste to landfill (tonne eq.)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,000</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Waste recycled (tonne eq.)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12,000</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">22,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Waste reuse (tonne eq.)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>372,000</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">457,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">453,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Total waste generation (tonnes equivalent)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>384,000</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">479,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">506,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Percentage of total waste to landfill</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Percentage of total waste: hazardous</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Percentage of hazardous waste to landfill</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our reuse waste or byproduct waste is generally sold to third parties. Our operating
teams are diligent at not only minimizing waste, but also maximizing recoverable value from waste. We have invested in equipment to capture byproducts from the combustion of coal, such as fly ash, bottom ash, gypsum and cenospheres, for subsequent
sale. These <FONT STYLE="white-space:nowrap">non-hazardous</FONT> materials add value to products like cement and asphalt, wallboard, paints and plastics. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#43c5e4"><B>Coal Ash Management </B></FONT></P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Given our transition off coal, we ceased producing fly ash waste in Canada
at the end of 2021 and will no longer produce it past the end of 2025 in the U.S. In 2023, Lafarge Canada and TransAlta entered into an agreement designed to advance <FONT STYLE="white-space:nowrap">low-carbon</FONT> concrete projects in Alberta.
The project repurposes landfilled fly ash, a waste product from TransAlta&#8217;s Highvale mine, which ceased operations in 2021. The ash is used to replace cement in concrete manufacturing. Turning the recovered product into something marketable,
reduces the amount of cement produced and consequent emissions while offering new job and economic growth
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
opportunities. This innovative technology contributes to reducing waste and is expected to reduce reclamation liabilities for TransAlta. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Land Use </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our largest land use had been associated with land disturbed by surface mining of coal, which we ceased to do in 2021. Of the three
mines we operated, the Whitewood mine in Alberta is completely reclaimed and the land certification process is ongoing. Our Centralia mine in Washington State is currently in the reclamation phase and we have adopted a target to fully reclaim this
mine by 2040. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Highvale mine in Alberta ceased operations on Dec. 31, 2021, when we discontinued coal-fired power
generation in Canada. The mine reclamation of Highvale has been progressively executed as part of our regulatory approvals and our target is to have it fully reclaimed by 2046. In 2022, our reclamation team submitted our final reclamation plans. The
updated plans align with community priorities </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M121</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">for the reclaimed land. In 2024, we continued contouring disturbed areas, <FONT
STYLE="white-space:nowrap">re-establishing</FONT> drainage, replacing topsoil and subsoil, and advancing <FONT STYLE="white-space:nowrap">re-vegetation</FONT> and land management. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our land use practices regarding previous mining activities incorporate progressive reclamation where the final end use of the land
is considered at all stages of planning and development. To date, we have reclaimed approximately 5,000 hectares, which is equivalent to 40&nbsp;per cent of land disturbed (12,500 hectares). </FONT></P>
<P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Biodiversity </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The importance of environmental protection and biodiversity is outlined in our Environmental Policy as a corporate responsibility
for TransAlta and a responsibility of each employee and contractor working on TransAlta&#8217;s behalf. In 2022, the Company adopted the target to &#8220;achieve zero biodiversity-related incidents&#8221;. This means zero biodiversity-related
incidents that affected habitats and species included on the Red List of the IUCN from near threatened to critically endangered.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table represents our biodiversity incidents in accordance with the IUCN Red List classification. </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="71%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Critically endangered</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Endangered</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Vulnerable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Near
threatened</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total
biodiversity-related incidents</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Environmental Incidents and Spills </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Protecting the environment supports healthy ecosystems and mitigates our
environmental compliance risk and reputational risk. We maintain corporate incident management procedures, as part of our Total Safety Management System, for response, investigation and lessons learned to minimize environmental incidents. With
respect to biodiversity management (management of ecosystems, natural habitats and life in the areas we operate), we seek to establish robust environmental research and data collection to establish scientifically sound baselines of the natural
environment around our facilities to ensure we can accurately evaluate the level of significance to biodiversity following an incident.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We closely monitor the air, land, water and wildlife in these areas to identify and
curtail potential impacts. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, no regulatory <FONT STYLE="white-space:nowrap">non-compliance</FONT> environmental
incidents were recorded (2023 &#8211; no incidents). No fines or environmental enforcement actions occurred. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table represents our regulatory <FONT STYLE="white-space:nowrap">non-compliance</FONT> environmental incidents. </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="71%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Regulatory <FONT
STYLE="white-space:nowrap">non-compliance</FONT> environmental incidents</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Regarding spills and releases, efforts are placed on providing immediate response to
all environmental spills to ensure assessment, containment and recovery of spilled materials result in minimal impact to the environment. </FONT></P>
<P STYLE="font-size:8pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The volume of spills in 2024 was zero (0)&nbsp;m<SUP
STYLE="font-size:75%; vertical-align:top">3</SUP> (2023 &#8211; 0 m<SUP STYLE="font-size:75%; vertical-align:top">3</SUP>).
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table represents our significant environmental incidents. </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="71%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Significant
environmental incidents</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;&#8195;0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8195;&#8195;0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M122</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_31"></A>Engaging with Our Stakeholders to Create
</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Positive&nbsp;Relationships </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We strive to create shared value for our stakeholders through social and relationship
value creation at TransAlta. The most material impacts on our social and relationship performance are fostering positive relationships with Indigenous neighbours, communities, stakeholders, governments, industry and landowners in the areas where we
operate, as well as public health and safety. This section covers sustainability factors of social and relationship capital and intellectual capital partially in alignment with guidance from the IFRS&#8217;s Integrated Reporting Framework.
Performance outlined below excludes the acquisition of Heartland Generation on Dec. 4, 2024. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Inclusive Transition </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In support of our energy transition, from 2012 to 2023, TransAlta invested US$55&nbsp;million to support energy efficiency, economic
and community development and education and retraining initiatives in Washington State. The investment is part of the TransAlta Energy Transition Bill passed in 2011. This bill was a historic agreement between policymakers, environmentalists, labour
leaders and TransAlta to transition away from coal in Washington State by ceasing Centralia&#8217;s coal-fired generation by the end of 2025. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Three funding boards were formed to invest the US$55&nbsp;million starting in 2015: the Weatherization Board (US$10 million), the Economic and Community Development Board (US$20 million), and the Energy Technology Board (US$25
million). These boards are independent from TransAlta and provide grants to local businesses, <FONT STYLE="white-space:nowrap">non-profit</FONT> organizations and local governments to improve energy efficiency, educate and retrain workers for the
next generation of jobs and fund energy technology projects. To date, the Weatherization Board has invested US$10&nbsp;million, the Economic and Community Development Board US$18.9&nbsp;million and the Energy Technology Board US$15.5&nbsp;million.
Further information on Centralia Coal Transition Grants can be found on the website https://cctgrants.com/. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Additionally, in 2016, TransAlta announced that we had reached an agreement with the Government of Alberta for the cessation of
emissions from coal-fired electricity
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
generation facilities in Alberta <FONT STYLE="white-space:nowrap">(Off-Coal</FONT> Agreement). As part of the <FONT STYLE="white-space:nowrap">Off-Coal</FONT> Agreement, TransAlta has and
continues to invest in programs and initiatives to support the communities surrounding the plants negatively impacted by the <FONT STYLE="white-space:nowrap">phase-out</FONT> of coal generation during the transition. </FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Customers </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta serves industrial and commercial customers with power and energy services across its fleet in Canada, the </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">U.S. and Western Australia. We are focused on customer-centred growth to bring high levels of service quality and reliability for
our customers. As one of the largest electricity generators in Canada, our team serves businesses with: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Energy solutions starting from the design phase; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Energy consumption and cost management solutions; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Market price risk and volume exposure mitigation; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Monitoring of energy market design changes, price signals and applicable and available incentives.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Customer Solutions team at TransAlta has maintained a large portfolio of customers in Alberta
across a broad range of industry segments, including commercial real estate, municipal, manufacturing, industrial, hospitality, finance and oil and gas. Our work has been recognized by our customers through an average retention rate of 92&nbsp;per
cent over the last three years. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Across our business in Canada, the U.S. and Western Australia, we provide <FONT
STYLE="white-space:nowrap">on-site</FONT> generation for large mining and industrial customers. This requires us to continually engage with these customers, ensuring that current electricity requirements are provided safely, reliably and
cost-effectively. We continue to explore opportunities to develop renewable energy facilities to support customers achieving their sustainability goals and targets, such as 100&nbsp;per cent renewable power targets and/or GHG emissions reduction
targets. Production from renewable electricity in 2024 resulted in the avoidance of approximately 2.8&nbsp;million tonnes of CO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB>e for our customers.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M123</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our experience in developing and operating power facilities
is highlighted below. </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom" WIDTH="17%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Power generation type</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Operating&nbsp;experience&nbsp;(years)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">113</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Natural Gas</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Solar</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Battery Energy Storage Systems</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For further details on how we support our customers&#8217; sustainability objectives,
please refer to the Enabling Innovation and Technology Adoption section of this MD&amp;A. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Human Rights </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta is committed to honouring domestic and internationally accepted labour standards and supports the protection of human
rights of all its employees, contractors, suppliers, partners, Indigenous partners and other stakeholders. We abide by human rights and modern slavery legislation in Canada, the U.S. and Australia. We have a zero tolerance approach to discrimination
based on age, disability, gender, race, religion, colour, national origin, political affiliation or veteran&#8217;s status or any other prohibited ground as defined by human rights legislation in the jurisdictions in which we operate. We afford
equal opportunities for all gender identities, support the right to freedom of association and the right to organize unions and bargain collectively. We do not conduct operational human rights reviews or impact assessments, but we have governance
practices in place for the protection of human rights. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Human Rights and Discrimination Policy outlines our
commitment to human rights in our operations and supply chain to ensure that our personnel policies and practices in our global operations respect fundamental rights. Expected behaviours of all our employees are set out in our Corporate Code of
Conduct. We are committed to creating a work environment where all workers feel safe and are valued for the diversity they bring to our business. Our annual mandatory Code of Conduct training is required for employees prior to signing off the Code
of Conduct. In 2024, 100&nbsp;per cent of employees completed the training and acknowledged and signed the Code of Conduct. We also have adopted a Supplier Code of Conduct that defines the principles and standards expected of suppliers, their
employees and contractors to meet while providing goods and/or services to TransAlta. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Whistleblower Policy provides
a mechanism for our employees, officers, directors and contractors to report, among other things, any actual or suspected ethical or legal violations. We would seek to remedy the impact promptly in order to establish a corrective action plan in
collaboration with the relevant individuals and stakeholders.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta files annual reports under Canada&#8217;s <I>Fighting Against Forced Labour
and Child Labour in Supply Chains Act </I>and Australia&#8217;s <I>Modern Slavery Act 2018</I>. Such reports set forth the actions that we have taken to assess and address modern slavery risks within our operations and supply chain. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Supply Chain </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">We continue to seek solutions to advance supply chain sustainability. As we explore major projects, we assess vendors both at the evaluation stage and as part of information requests on such elements as safe work practices,
environmental practices and Indigenous spend. This means, for example and for select procurement engagements, getting information on: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Estimated value of services that will be procured though local Indigenous businesses;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Estimated number of local Indigenous persons that will be employed; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Understanding overall community spend and engagement; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Understanding the state of community relations through interview processes and stakeholder work.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In the coming years, we plan to develop ESG criteria for supply chain engagement and work to
understand our direct suppliers&#8217; GHG emissions profile and targets. Our long-term plan is to collaborate with suppliers to explore enhancement of their GHG emissions targets and to consider setting direction for engaging suppliers with GHG
emissions reduction targets. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2022, TransAlta approved a new goal to integrate sustainability into our supply chain.
Our target is &#8220;By 2024, 80&nbsp;per cent of our spend will be with suppliers that have a sustainability policy or commitment&#8221;. This supports the intent of the UN SDG Target 12.7: &#8220;Promote public procurement practices that are
sustainable, in accordance with national policies and priorities.&#8221; In 2024, we confirmed that, on average, 79&nbsp;per cent of our spend since 2022 was with suppliers that have a sustainability policy or commitment. Even though our target to
achieve 80 per </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M124</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">cent of our spend with suppliers that have a sustainability policy or commitment by
2024 was not achieved, all vendors and suppliers of TransAlta are required to adhere to our Supplier Code of Conduct. Under this code, suppliers of goods and services to TransAlta are required to adhere to our core values, including health and
safety, ethical business conduct and environmental leadership. The code also allows suppliers to report ethical or legal concerns via TransAlta&#8217;s Ethics Helpline. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta will continue to consider other targets to help integrate sustainability into supply chain. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Indigenous Relationships and Partnerships </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At TransAlta, we use our core values&#8212;safety, innovation, sustainability, respect and integrity&#8212;to guide our business
practices and our engagement with stakeholders and Indigenous communities. We seek to build and nurture relationships and work to listen and understand the impacts our operations may have on local communities. We maintain open communication channels
and are dedicated to resolving issues promptly and professionally through dialogue. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition to the Company&#8217;s
core values, engagement practices are guided by industry best practices and standards, corporate policies and regulatory requirements. Our commitment to Indigenous relations is spearheaded by a centralized corporate team that fosters a
relationship-based approach, involving employees at our facilities and within each business unit. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s
Indigenous Relations Policy focuses on five key areas: awareness, community engagement, community investment, business development, employment and training. Efforts are focused on building and maintaining solid relationships and strong communication
channels that enable TransAlta to: share information regarding operations and growth initiatives; gather feedback to inform project planning; and understand priorities and interests from communities to better address concerns and unlock
opportunities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Methods of engagement include: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Relationship building through regular communication and meetings with representatives at various
levels within Indigenous communities and organizations; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Hosting company-community activities to share both business information and cultural knowledge;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Maintaining consistent communications with each community and following appropriate community
protocols and procedures; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Participating in community events such as pow wows and blessing ceremonies; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Providing both monetary and <FONT STYLE="white-space:nowrap">in-kind</FONT> sponsorships for
community initiatives. </FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta strives to maintain relationships through the life cycle of our facilities,
from project development and construction, through operation, until decommissioning phases are complete. This is recognized in our Indigenous Relations Policy, which includes acknowledgement and understanding of the intent of the recommendations of
the United Nations Declaration on the Rights of Indigenous Peoples. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Support for Indigenous Youth, Education and Employment
</B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta recognizes the importance of investing in Indigenous students and our financial support helps students
complete their education, become self-sufficient and move forward to become future leaders in their communities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In
2024, TransAlta provided more than $320,000 to support Indigenous youth, education and employment programs, representing 11&nbsp;per cent of TransAlta&#8217;s total community investment. Highlights include: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Read On Literacy Program (Read On) &#8211; In 2024, TransAlta partnered with Read On to provide
elementary students in communities near our operations with <FONT STYLE="white-space:nowrap">in-person</FONT> and virtual sessions. Read On is an Indigenous literacy program that seeks to mentor young people in First Nation schools to achieve their
maximum academic, personal and social development by promoting the core values of education, literacy, taking pride in one&#8217;s culture and making good decisions in one&#8217;s life. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">In the Spirit of Planting Seeds &#8211; In 2024, TransAlta donated to the Growbox Project, an
initiative by the Piikani Nation Lands Department aimed at addressing food security and promoting environmental stewardship. The project, titled &#8220;S&#363;&#7767;ii &#7767;o&#8217;omaaksin&#8221; or &#8220;in the spirit of planting seeds,&#8221;
involves the development of a comprehensive greenhouse program that integrates renewable energy technologies and Blackfoot cultural teachings. The program includes a hydroponic farm for year-round food production, educational opportunities for
students, and efforts to promote food sustainability and sovereignty within the Piikani Nation community. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Indigenous Cultural Awareness Training </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In line with our sustainability target set in 2023, the Company made a deliberate effort to ensure that every new employee
participated in Indigenous Cultural Awareness training. In 2024, TransAlta successfully reached 100&nbsp;per cent completion of the Indigenous Cultural Awareness Training program during the onboarding of all new employees across our operating
jurisdictions in Canada, the U.S. and Western Australia. This initiative has been instrumental in providing valuable insights into the rich history, culture and perspectives of Indigenous communities within the jurisdictions where we operate.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M125</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Case Study: Diamond Willow Youth Lodge </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">To meet the unique needs of Calgary&#8217;s Indigenous youth, TransAlta has invested over $1&nbsp;million since 2018 in the Diamond
Willow Youth Lodge. Named after the species of willow tree used to build sacred sweat lodges, the diamond willow is known for its strength and flexibility making it ideal for creating the framework of the lodge. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">This accessible and safe space provides a broad spectrum of support for the culture, identity, housing, mentorship and well-being
needs of Indigenous youth aged 12 to 29. In 2023, 292 youth were supported by the lodge during 829 visits. The number of attendees has been increasing steadily year-over-year since inception. Over 165 events, workshops and activities were hosted
including traditional cooking, drumming groups, hide and circle camps, tipi pole harvesting and tea ceremonies. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Stakeholder
Relationships </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fostering positive relationships with our stakeholders is important to TransAlta. Driven by our core
values, we see stakeholder transparency as an integral part of our business success. We work to build relationships and understand the importance of early and regular dialogue to determine what opportunities or impacts our activities may have on
local stakeholders. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Our Stakeholders </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">To act in the best interests of the Company and optimize the balance between financial, environmental and social values of our
stakeholders and TransAlta, we seek to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Build relationships through regular engagement with stakeholders regarding our operations, growth
prospects and future developments; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Consider feedback and make changes to project designs and plans to resolve and/or accommodate
concerns expressed by our stakeholders; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Respond in a timely and professional manner to stakeholder inquiries and concerns and work
diligently to resolve issues or complaints. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our stakeholders are identified through stakeholder
mapping exercises and prospective project development or acquisition. Through decades of establishing stakeholder relationships in the areas of our facilities, we have developed a strong knowledge of who our stakeholders are and have gained
understanding of our stakeholders&#8217; issues and concerns. In many of our operating areas, we have decades of established relationships and work to maintain a consistent level of communication and trust. In newer areas, we spend time and effort
on site listening and learning to ensure we consider all perspectives. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our principal
stakeholder groups are listed in the following table. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>TransAlta Stakeholders</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="3" VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-governmental</FONT> organizations</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Community associations</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Transmission facility
operators</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Regulators</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Industry associations</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Communities</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Charitable
organizations/Non-profit</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Standards organizations</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Retirees</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">All levels of government</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Media</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Residents/Landowners</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Suppliers</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Business partners</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Investor organizations</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Contractors</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Unions/Labour organizations</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Financial institutions</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Government agencies</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Resource industry associations</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Mineral rights owners</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">System operators</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Think tanks</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Railroad owners</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Customers</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Academics</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Utility owners</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Shareholders</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Employees</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Creditors</FONT></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M126</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Stakeholder Engagement </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our stakeholder engagement practices are guided by industry best practices, international standards, corporate policies and
regulatory requirements. Examples of our methods of engagement are listed in the following table. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Information and communication</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dialogue and consultation</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Relationship building</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Open houses, town halls and public information
sessions</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">In-person</FONT> meetings with local groups and communities</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Community advisory bodies</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Newsletters, telephone conversations, emails
and letters</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Meetings with individual stakeholders (e.g., landowners and residents)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Capacity agreements</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Websites</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Targeted audience sessions</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Sponsorships and donations</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Social media postings</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Tours of our facilities and sites</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Hosting and attending events</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A key focus of our work is to support business growth through proactive engagement
with stakeholders in our geographic operating areas in Canada, the U.S. and Western Australia to develop and maintain relationships, assess needs and fit and seek out collaborative opportunities. This helps ensure any stakeholder concerns are
identified and can be addressed early in the development process, thereby minimizing project delays. We conduct consultation during project development and construction phase and maintain engaged communication throughout operations to
decommissioning phase. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta was active in many communities in the jurisdictions where we operate. We
delivered open houses, hosted community barbecues, conducted ongoing engagement with environmental, recreation and civil society groups and made numerous visits and interacted with <FONT STYLE="white-space:nowrap">non-profit</FONT> organizations.
</FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Community Investments </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta contributed approximately $2.9&nbsp;million in donations and sponsorships (2023 &#8211; $3.2 million), with a
continued focus in three priority areas: youth and education, environmental leadership and community health and wellness. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">One of our significant community investments each year is to United Way campaigns. This year, TransAlta employees, retirees,
contractors and the Company raised over $1.3&nbsp;million for the United Way of Calgary and Area. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta
made a number of other significant investments, including the following highlights: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Community Health and Wellness &#8211; In 2024, TransAlta donated to the Goldfields Women&#8217;s
Refuge Finlayson House in Australia, which offers a safe haven for women and children escaping domestic violence, providing them with shelter, support, and the tools to rebuild their lives. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Environmental Leadership &#8211; In 2024, TransAlta donated to the Day on the Creek event as part
of our commitment to supporting youth education and environmental stewardship in the Waterton Biosphere Region in Alberta.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our contribution helps provide valuable educational opportunities for students and
the community, fostering a deeper understanding of watershed stewardship and the importance of preserving our natural environment. </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Youth and Education &#8211; In 2012, students from a kindergarten class were awarded a $2,500
college scholarship by TransAlta after winning a regional <FONT STYLE="white-space:nowrap">eco-challenge</FONT> competition. In 2024, 19 students of the kindergarten class reached their high school graduation. As of their graduation date, the
initial principal of the scholarship more than doubled. A celebration for the students and their families was held at the Centralia facility. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Case Study: TransAlta&#8217;s Donation to the Alberta Conservation Association </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta and the Alberta Conservation Association (ACA) celebrated a significant milestone at the Whitewood Mine location.
Through our partnership, TransAlta completed a donation of 1,274 acres to the ACA. This donation will ensure that the land remains preserved in its natural state, contributing to biodiversity and conservation efforts. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Whitewood Mine, formerly a coal mine in Parkland County, Alberta required reclamation and conservation efforts to transform it
into a sustainable natural habitat. The challenge was to preserve the land&#8217;s diverse natural landscapes and ensure its long-term protection. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s donation to the ACA is part of a larger effort to create the Whitewood Mine Conservation Site, which will
encompass a total of 2,167 acres, combining past and present sales and donations. This makes it the largest continuous conservation property owned by the ACA in Alberta. The site features diverse natural landscapes, including a <FONT
STYLE="white-space:nowrap">100-acre</FONT> lake, small water bodies and various natural habitats. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The transformation of
the Whitewood Mine into a conservation area showcases the Company&#8217;s commitment to environmental stewardship, reclamation and community engagement. Upon receiving its final reclamation
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M127</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">certificate, the ACA plans to open the site to the public, providing a valuable
recreational and educational resource for the community. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Public Health and Safety </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We are committed to protecting the public and our assets, as well as the physical, psychological and social well-being of our
employees. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We specifically look to minimize the following risks: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Harm to people; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Damage to property; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Operational liability; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Loss of organizational reputation and integrity. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We work to prevent incidents and lower our risk by administering security controls such as restricting physical access around and
into our operating facilities. The use of security technology such as surveillance cameras and electronic access is utilized to ensure the control of secure areas. Regular audits and security risk assessments are conducted to ensure continuous
improvement of the Security Management Program. Our Security Management Program is focused on the protection of people, property, information and reputation. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Corporate Emergency Management Program prepares employees should an emergency incident occur. The program receives executive
sponsorship and includes an emergency management policy and standard, which sets an expectation for employees to continuously prepare for emergencies. It provides an overarching framework for each business unit to provide an Emergency Response Plan
and Business Continuity Plan. We implement our Incident Command System, which is a standardized <FONT STYLE="white-space:nowrap">on-scene</FONT> emergency and incident management system that provides an organizational structure capable of responding
to single or multiple incidents. Designed to aid in the management of resources during incidents, it combines facilities, equipment, personnel, procedures and communications operating within a common organizational structure. It is used as part of
an <FONT STYLE="white-space:nowrap">all-hazards</FONT> approach for incident management and is officially recognized for multi-agency response in emergency situations, however complex the incident might be. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We develop strong relationships with local emergency responders. We periodically conduct multi-agency training events at our
facilities. This ensures continuous improvement and familiarity with our assets and builds strong communication channels for emergency response. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our processes designate how we communicate with stakeholders in the event of a crisis. This is managed by our Crisis Communications
Team. The team has the responsibility and goal to provide a unified message on behalf of the Company throughout the response and recovery, ensure all messaging is approved by the Incident
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
Commander, <FONT STYLE="white-space:nowrap">co-ordinate</FONT> messaging with any applicable external agencies and, if necessary, deploy them to an incident site. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Annual training, exercise and drill requirements are adhered to by our employees operating at our facilities. The results are
tracked, audited and presented at our annual executive review. The findings and recommendations assist in maintaining an effective program across the organization. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Data and Digital Asset Protection </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We work diligently to protect our digital assets, including our corporate data and our digital identities that provide access into
line of business applications. Cybersecurity threats that compromise these assets include the manipulation of data integrity, system and network hacking, use of social engineering tactics through email phishing and compromise of operations and
infrastructure through the use of ransomware, credential breaches and attacks introduced through unknowing third-party vendors and service providers. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Given the ever-evolving nature of cyberattacks, we are continuously adapting our cybersecurity program to focus on three key
pillars: technology, processes and people. Each of these pillars can be reinforced independently to address specific cybersecurity risks and threats through a comprehensive and multi-faceted program. TransAlta continually assesses our cyber threat
and risk levels through independent auditing and simulated cyber-attacks (i.e., penetration testing). Results from these assessments and exercises guide our cybersecurity strategy and practices, implementing measures and controls to proactively
mitigate internal and external cybersecurity risks and threats posed to the organization. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s
Cybersecurity Policy defines how we identify and manage cybersecurity risks and threats, as well as how we detect, respond, and recover from cybersecurity incidents. We comply with all relevant legal, regulatory, industry standards and compliance
requirements such as the North American Electric Reliability Corporation Critical Infrastructure Protection (NERC CIP), the Australian Security of Critical Infrastructure Act and the U.S. Sarbanes Oxley Act, where applicable. The NERC CIP and
Australian Security of Critical Infrastructure rules are a set of standards aimed at regulating, enforcing, monitoring and managing the security of the North American and Australian power system. These compliance standards apply specifically to
address cybersecurity risks. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, there were no identified cybersecurity breaches to our technology environment.
Refer to Cybersecurity Risk in the Governance and Risk Management section of this MD&amp;A for further details. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M128</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_32"></A>Building a Diverse and Inclusive Workforce
</B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Engaging our workforce, developing our employees, creating an equitable, diverse and
inclusive work environment and minimizing safety incidents are the keys to human capital value creation at TransAlta and our most material areas for management. In 2024, we enhanced our ESG performance through our efforts to promote an equitable,
diverse and inclusive workforce. This section covers sustainability factors of human capital partially in alignment with guidance from the IFRS&#8217;s Integrated Reporting Framework. Performance outlined below excludes the acquisition of Heartland
Generation on Dec. 4, 2024. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Equity, Diversity and Inclusion </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s commitment and focus on excellence in equity, diversity and inclusion (ED&amp;I) is found in our workplace and
among our <FONT STYLE="white-space:nowrap">co-workers</FONT> who advocate for the values of equity and inclusion at all working levels. This commitment is outlined in our Board and Workforce Diversity Policy and Diversity and Inclusion Pledge. We
believe that a strong focus on ED&amp;I will create a culture of belonging, allowing our employees to bring their authentic selves to work where they can thrive, innovate, improve service to our customers, deliver company results and positively
impact the communities that we live in. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta executed the fourth year of our five-year ED&amp;I strategy
to achieve the goals and aspirations defined in our ED&amp;I Pledge. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Gender Diversity </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A number of case studies have highlighted the link between gender diversity and additional business value. TransAlta is an active
supporter of gender diversity as a driver for value, but also as an ethical business practice. Our commitment to gender diversity in our business is evidenced by our female participation rates on both our executive team and Board. In 2024, women
made up 32&nbsp;per cent of our executive team and 38&nbsp;per cent of our Board. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">To further support female advancement,
we have set targets to: (i)&nbsp;maintain equal pay for women in equivalent roles, (ii)&nbsp;achieve 50&nbsp;per cent representation of women on our Board by 2030 and (iii)&nbsp;achieve 40&nbsp;per cent representation of women among all employees by
2030. Currently, women employees represent 28&nbsp;per cent of all employees. Though the majority of our operational roles are currently held by male employees, we remain committed to achieving the 40&nbsp;per cent goal in this time period.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, we continued with the Women in Trades Scholarship that provides eligible students enrolled in post-secondary
trade programs with financial support. In 2024, we also continued with the gender diversity program in our
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
Generation business to strategically target the recruitment of women. The program seeks to break down barriers and create opportunities for women to thrive in fields with historically lower
female representation. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Workforce Health and Safety </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At TransAlta, safety is a core value and is the foundation of how we operate. While generating affordable and reliable electricity
for our customers is important, nothing is more important than the health and safety of our people and the communities we serve. We are committed to fostering a culture where we work and learn together to keep each other safe. Our focus on
Operational Excellence puts into action our mission to safely do the right work at the right time to power and empower our communities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Our management systems underpin the delivery of safe, reliable and competitive electricity to our customers and partners. The Company&#8217;s Total Safety Management System is a combination of recognized best practices in process
safety, risk management, asset management, occupational health, safety and environmental management. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At TransAlta,
safety is a core part of everyone&#8217;s role and a shared responsibility. As our safety culture maturity progresses, we are focused on cultivating a positive safety experience for everyone. We believe that the overall safety experience depends on
the interaction between three elements: the physical work environment, the social environment and the individual environment. We made significant progress on our safety culture transformation journey through training and initiatives that support the
three elements of positive safety. This training provides the tools and strategies to increase employees&#8217; ability to identify and control high energy hazards, enhance psychological safety and support mental health. At TransAlta, a positive
safety culture is not only the absence of harm but the presence of protective factors that increase well-being. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024,
our strong safety performance was supported by our strategic areas of focus: maturing our safety culture, understanding risk and standardizing safety information and systems. To support our safety cultural growth, new employees and leaders completed
training modules designed to gain tools to understand their role in setting, building, and maintaining our safety culture. Through peer board sessions designed to embed an understanding of human and organizational performance principles, serious
injury and fatality prevention and psychological safety, leaders held over 100 sessions across the fleet. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">One of our
safety indicators is TRIF, which tracks the number of injury incidents that require treatment beyond first aid, relative to total exposure hours worked. Our TRIF
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M129</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">result for 2024 was 0.56 compared to 0.30 in 2023. We recorded zero serious injuries
in 2024. The identification and control of high energy hazards is foundational to our strong performance on serious injury prevention.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">&#8195;
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table represents our corporate safety performance and includes employees and contractors. </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="61%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Year ended Dec. 31</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2022</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Lost-time injuries</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Medical aids</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Restricted work injuries</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Exposure hours</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;2,844,000</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;3,362,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8195;3,058,000</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Total Recordable Injury Frequency (TRIF)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.56</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We focus on leading indicators and participation through Total Safety Reports
(hazard, near miss, positive observations, and cybersecurity reports). Total Safety Report Frequency demonstrates the proactive activities, per worker per year, we are taking to identify and prevent an injury from occurring. We also report and
recognize positive behaviours in the workplace to enhance psychological safety. This allows us to not only respond to incidents if they occur but find opportunities to strengthen barriers and layers of protection to mitigate potential incidents. In
2024, we recorded 16.3 reports per worker, which is above our exceptional performance target of 15. Evidence of the positive impacts associated with strong engagement and a maturing safety culture is apparent in TransAlta&#8217;s overall safety
performance. In 2024, TransAlta was recognized by the Alberta Mine Safety Association with the Trail Blazer Business Leader Award. This award recognizes executive leaders and senior managers for exemplary and inspiring leadership with a high
commitment to health and safety. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Organizational Culture and Structure </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our employees are central to value creation. Our corporate culture has evolved and adapted throughout our <FONT
STYLE="white-space:nowrap">113-year</FONT> history. Our values are safety, innovation, sustainability, respect and integrity. These five values help provide clarity for our employees and guide our behaviour and decision-making. They also provide a
foundation for leadership, collaboration, community support, personal growth and work-life balance. Through corporate initiatives and support throughout all levels of leadership, we encourage our employees to maximize their potential. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Culture Transformation </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">In 2022, we embarked on our culture transformation journey with the goal of becoming a culture of results, purpose and learning. We developed a three-year culture strategy, Culture Charter and Culture Roadmap that defines
milestones. For alignment and transparency, all of these documents are available to our employees. Part of our culture transformation
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
involves improving employee psychological safety to encourage employees to speak up with a view to increase innovation, creativity and ultimately, results. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We conduct annual employee engagement surveys to gauge the employee experience, and based on survey results, leaders created action
plans to drive improvement and increase engagement at the business unit and team level. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Finally, we are focused on
improving employee health and well-being. To increase awareness, we have launched education sessions on a variety of topics such as mental health, women&#8217;s health, men&#8217;s health, nutrition, resiliency, etc. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Organizational Structure </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">In 2024, we had 1,205 (2023 &#8211; 1,257) active employees. With approximately 29&nbsp;per cent of our employees being unionized, we strive to maintain open and positive relationships with union representatives and regularly meet
to exchange information, listen to concerns and share ideas that further our mutual objectives. Collective bargaining is conducted in good faith and we respect the rights of employees to participate in collective bargaining. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our organizational structure changed in 2024. Our business continues to operate four generating segments, with Gas, Wind and Solar,
Hydro and Energy Transition, with support from our Corporate and Energy Marketing segments. Our operations portfolio is run by a single leadership team, which provides operational and financial synergies, thus enhancing our competitiveness.
</FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Employee Retention and Recognition </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">ESG-Linked</FONT> Compensation </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At TransAlta, we have linked our
ESG performance to our employees&#8217; compensation including that of our executive leadership team. Our annual and long-term incentive pay
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M130</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">for performance plans are linked to TransAlta achieving various sustainability goals,
where the targets and metrics are reviewed and approved annually by our Board of Directors and further outlined in our annual compensation plans. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, 20&nbsp;per cent of our annual incentive plan was linked to achieving specific ESG targets: 10&nbsp;per cent referred to
our organizational culture improvements and 10&nbsp;per cent was linked to safety. Our long-term incentive plans include strategic goals related to leading in ESG policy development and progress towards our ESG targets. Refer to the Management Proxy
Circular for additional details on our ESG related compensation. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Employee Performance and Recognition </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Coaching, feedback and management are fundamental to our performance philosophy, with leaders and employees being asked to
participate in regular meetings to discuss work progress, professional and career development throughout the year.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We strive to be an employer of choice through our HR and total rewards programs,
which include <FONT STYLE="white-space:nowrap">pay-for</FONT> performance incentive plans, as reviewed and approved by the Board of Directors. TransAlta&#8217;s annual and long-term incentive plans are designed to measure and recognize
employees&#8217; contributions towards metrics and targets. To motivate and engage employees in a timely manner, we continue to utilize employee recognition programs, including a quarterly recognition program and a <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">peer-to-peer</FONT></FONT> recognition program. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Talent Development </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta places significant focus on talent development and retaining its employees. Annually, employees complete a combination of
optional, mandatory and customized training as part of their roles. All employees have access to learning sessions from speakers who are experts on topics as varied as psychological safety, ED&amp;I, mental and physical health, culture, financial
wellness, core skills and leadership development. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_33"></A>Delivering Reliable and Affordable Energy </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s goal is to be a leading customer-centred electricity company, one
that is committed to a sustainable future. Our strategy is focused on meeting our customers&#8217; need for affordable and reliable electricity, operational excellence and continual improvement. This section covers manufactured, intellectual and
social and relationship capital management partially in alignment with guidance from the IFRS&#8217;s Integrated Reporting Framework. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Energy Affordability </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta helps commercial and industrial customers manage their cost of energy. TransAlta has a full suite of procurement strategies and products with various terms available to our customers to assist them in understanding and
reducing their energy costs. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For customers interested in making a long-term commitment to obtain predictable costs,
TransAlta has the experience to develop renewable energy facilities, battery energy storage systems and hybrid solutions, or long-term offtake agreements from its existing and future renewable and <FONT STYLE="white-space:nowrap">gas-fired</FONT>
facilities. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B><FONT STYLE="white-space:nowrap">End-Use</FONT> Efficiency and Demand </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s commercial and industrial customers have access to an extensive set of monthly reports providing detailed tracking
of customer usage, allowing for corrective action as required, as well as cost-saving recommendations. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Power Factor
Report advises customers if their sites are operating at less than a 90&nbsp;per cent power factor so they can
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
consider installing energy-efficient equipment. By reducing the customer&#8217;s power system demand charge through power factor correction, the customer&#8217;s site puts less strain on the
electricity grid and reduces its carbon footprint. TransAlta&#8217;s Site Health Report advises customers of a site whose peak demand has been permanently reduced for a variety of reasons from its initial
<FONT STYLE="white-space:nowrap">in-service</FONT> date. The customer may be paying a higher demand charge each month to the distribution company based on the original peak demand expected at the site. TransAlta collaborates with the customer and
determines the new peak demand based on the customer&#8217;s operation. The customer, working with the distribution company, may find it economic to buy down the distribution contract to reduce the monthly distribution costs going forward.
</FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Grid Resiliency </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">As a large electricity generator, TransAlta works diligently to ensure the power we provide our customers is reliable and affordable. We provide decentralized and customized power solutions to industrial customers. We also supply
power to centralized power systems and own and operate transmission grid infrastructure in Alberta that addresses system reliability needs. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">In all jurisdictions where we operate, we work closely with the system operators to ensure overall supply adequacy and reliability of the grid. We consider a myriad of factors in our planning and operation decisions that could put
grid resiliency at risk, including renewable energy intermittency, cyberattacks, extreme weather events and natural
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M131</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">disasters. We are also committed to ensuring strong compliance with North American
Electric Reliability Corporation standards, Alberta Reliability Standards and the Power System Security and Reliability standards in the Western Electricity Market in Australia for the power plant and transmission infrastructure that we own and
operate. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As a Company, we are keenly focused on deploying renewable and
<FONT STYLE="white-space:nowrap">gas-fired</FONT> power generation and new technology solutions to meet the emerging and future needs of the electric system that we operate in. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2020, WindCharger was the first battery energy storage asset ever developed in Alberta and was a leading participant in the
Alberta Electric System Operator&#8217;s pilot fast frequency response project. Fast frequency response is a novel and critical new fast-acting transmission reliability service that helps meet the needs of a more renewable-based grid by augmenting
the electricity systems ability to recover from the sudden loss of generation or interties. WindCharger continues to provide of system reliability service. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, TransAlta launched a project with Atlas Power Technologies Inc. for a hybrid hydro supercapacitor energy storage system,
which is expected to be the first of its kind in North America. With support from a grant from Emissions Reduction Alberta, the project is complementary to an existing hydroelectric generating station that augments the power plant&#8217;s response
time and capability to address frequency response needs. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For more information on technologies to support grid
resiliency, refer to the Enabling Innovation and Technology Adoption section of this MD&amp;A. For more information on extreme weather events and natural disasters, refer to Weather in the Managing Environmental Resources section of this MD&amp;A.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Asset Management </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s asset management program is designed to deliver operational excellence by optimizing the total lifecycle value
from physical assets across the Company&#8217;s generation portfolio in Canada, the U.S. and Western Australia. The program involves a centralized team of engineers and specialists who collaborate with plant engineers and operators. They remotely
monitor generation facilities for emerging equipment reliability and performance issues. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">If an issue arises, the asset
management engineer will assess and then notify facility operations of the findings to support investigation and remedy the issue to minimize the impact to operations. For example, if a wind turbine starts to show early signs of performance
deviation compared to others, the operations team is notified and they will investigate and remedy the issue. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
monitoring, analysis and diagnostics completed by the asset management engineer enable early identification of equipment issues based on longer-term trend analysis and complements
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">day-to-day</FONT></FONT> facility operations. Anticipating risks and asset faults early allows for planned and scheduled repairs to be optimized and facility availability to be
maximized. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Advanced Analytics </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta has a dedicated data and analytics team that collaborates with the asset management and operations teams to leverage data
science models, modernized technology platforms, and advanced analytics. Through this collaboration, solutions for specific <FONT STYLE="white-space:nowrap">use-cases</FONT> are developed, enabling valuable insights that are actioned. Examples of
these <FONT STYLE="white-space:nowrap">use-cases</FONT> include data science models for detecting performance anomalies for wind turbines and models for detecting frequency excursions for compliance with the market rules.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M132</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_34"></A>Sustainability Governance </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In order for an organization to truly integrate sustainability, it requires
accountability at the Board and executive level. It requires an understanding of sustainability factors and associated corporate actions to address these issues, while continuing to balance operations and growth. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Sustainability is overseen by TransAlta&#8217;s GSSC of the Board. The GSSC assists the Board in fulfilling its oversight
responsibilities with respect to the Company&#8217;s monitoring of climate change, environmental, health and safety regulations, public policy changes and the development of strategies, policies and practices for climate change, environment, health
and safety and social well-being, including human rights, working conditions and responsible sourcing. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
policies help govern sustainability at TransAlta and are publicly available in the Governance section of the Investor Centre on our website: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Corporate Code of Conduct </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Supplier Code of Conduct </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Whistleblower Policy </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Total Safety Management Policy </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Human Rights and Discrimination Policy </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Indigenous Relations Policy </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Board and Workforce Diversity Policy and Diversity and Inclusion Pledge
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Environmental Policy </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, our sustainability memberships included key sustainability organizations and working groups such as the IFRS Sustainability
Alliance, the Trellis Network (formerly GreenBiz) and the Electricity Canada Sustainable Electricity Steering Committee and Climate Change Adaptation Committee, which all provide validation and support of our sustainability strategy and practices.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In 2024, our material sustainability factors remained unchanged from 2022. They are
presented below in alphabetical order. </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Air quality and emissions </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Asset integrity and grid resiliency </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Biodiversity and land management </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Climate change and greenhouse gas emissions </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Dam safety </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Energy use and conservation </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Equity, diversity and inclusion </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Ethics and business conduct </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Health, safety and well-being </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Human rights and labour practices </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Indigenous relationships and partnerships </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Information asset protection and cybersecurity </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Renewable energy and innovative technologies </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Security and emergency preparedness and response </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Stakeholder engagement and community investment </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Supply chain and sustainable sourcing </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Sustainability governance </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Sustainable finance </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Talent attraction, retention and development </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Waste management </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Water management </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For additional details on governance, refer to the Governance and Risk Management section of this MD&amp;A.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M133</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_35"></A>Governance and Risk Management </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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 interact. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Governance </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The key elements of our governance practices are: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Employees, management and the Board are committed to ethical business conduct, integrity and
honesty; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">We have established key policies and standards to provide a framework for how we conduct our
business; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Chair of our Board and all directors, other than our President and CEO, are independent within
the meaning of National Instrument <FONT STYLE="white-space:nowrap">58-101</FONT> &#8212; Disclosure of Corporate Governance Practices; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Board includes individuals with a mix of skills, knowledge and experience that are critical for
our business and our strategy; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The effectiveness of the Board is achieved through robust annual evaluations and continuing
education of our directors; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our management and the Board facilitate and foster an open dialogue with shareholders and community
stakeholders. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Commitment to ethical conduct is the foundation of our corporate governance model. We
have adopted the following codes of conduct to guide our business decisions and everyday business activities: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Corporate Code of Conduct, which applies to all employees and officers of TransAlta and its
subsidiaries; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Directors&#8217; Code of Conduct; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Supplier&#8217;s Code of Conduct; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Finance Code of Ethics, which applies to all financial employees of the Company; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Energy Trading Code of Conduct, which applies to all of our employees engaged in energy marketing.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Corporate Code of Conduct outlines the standards and expectations we have for our employees,
officers, directors, consultants and suppliers with respect to, among other things,
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
the protection and proper use of our assets. The codes also provide guidelines with respect to securing our assets, avoiding conflicts of interest, respect in the workplace, social
responsibility, privacy, compliance with laws, insider trading, environment, health and safety and our commitment to ethical and honest conduct. Our Corporate Code of Conduct and Directors&#8217; Code of Conduct each goes beyond the laws, rules and
regulations that govern our business in the jurisdictions in which we operate; they outline the principal business practices with which all employees and directors must comply. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our employees, officers and directors are informed annually about the importance of ethics and professionalism in their daily work
and must certify annually that they have reviewed and understand their responsibilities as set forth in the respective codes of conduct. This certification also requires our employees, officers and directors to acknowledge that they have complied
with the standards set out in the respective code during the last calendar year. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Board provides stewardship of the
Company and ensures that the Company establishes key policies and procedures for the identification, assessment and management of principal risks and strategic plans. The Board monitors and assesses the performance and progress of the
Company&#8217;s goals through candid and timely reports from the CEO and the senior management team. We have also established an annual evaluation process whereby our directors are provided with an opportunity to evaluate the Board, Board
committees, individual directors and the Chair of the Board&#8217;s performance. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">To allow the Board to establish and
manage the financial, environmental and social elements of our governance practices, the Board has delegated certain responsibilities to the AFRC, GSSC, the Human Resources Committee (the HRC) and the Investment Performance Committee (IPC).
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The AFRC, consisting of independent members of the Board, provides assistance to the Board in fulfilling its oversight
responsibility relating to the integrity of our consolidated financial statements and the financial reporting process; the systems of internal accounting and financial controls; the internal audit function; the external auditors&#8217;
qualifications and terms and conditions of appointment, including remuneration, independence, performance and reports; and the legal and risk compliance programs as established by management and the Board. The AFRC approves our Commodity and
Financial Exposure Management policies and reviews quarterly ERM reporting. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The GSSC is responsible for developing and
recommending to the Board a set of corporate governance principles applicable
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M134</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">to the Company and for monitoring compliance with these principles. The GSSC is also
responsible for Board recruitment, succession planning and for the nomination of directors to the Board and its committees. In addition, the GSSC assists the Board in fulfilling its oversight responsibilities with respect to the Company&#8217;s
monitoring of climate change, environmental, health and safety regulations, public policy changes and the development of strategies, policies and practices for climate change, environmental, health and safety and social well-being, including human
rights, working conditions and responsible sourcing. The GSSC also receives an annual report on the annual codes of conduct certification process. For further information on the Board&#8217;s oversight of climate-related factors, refer to Climate
Change Governance in the ESG section of this MD&amp;A. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In regards to overseeing and seeking to ensure that the Company
consistently achieves strong environment, health and safety (EH&amp;S) performance, the GSSC undertakes a number of actions that include: (i)&nbsp;receiving regular reports from management regarding environmental compliance, trends and
TransAlta&#8217;s responses; (ii)&nbsp;receiving reports and briefings on management&#8217;s initiatives with respect to changes in climate change legislation, policy developments as well as other draft initiatives and the potential impact such
initiatives may have on our operations; (iii)&nbsp;assessing the impact of the GHG policies implementation and other legislative initiatives on the Company&#8217;s business; (iv) reviewing with management the EH&amp;S policies of the Company;
(v)&nbsp;reviewing with management the health and safety practices implemented within the Company, as well as the evaluation and training processes put in place to address problem areas; (vi)&nbsp;discussing with management ways to improve the
EH&amp;S processes and practices; (vii)&nbsp;considering and recommending our sustainability targets to the Board and evaluating our performance against such targets; (viii)&nbsp;reviewing the effectiveness of our response to EH&amp;S issues and any
new initiatives put in place to further improve the Company&#8217;s EH&amp;S culture; and (IX)&nbsp;reviewing our safety performance. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The HRC is empowered by the Board to review and approve the Company&#8217;s key compensation and human resources policies that are intended to attract, recruit, retain and motivate employees. The HRC also makes recommendations to
the Board regarding the compensation of the CEO, including the review and adoption of equity-based incentive compensation plans, the adoption of human resources policies that support human rights and ethical conduct and the review and approval of
executive management succession and development plans. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The IPC is empowered by the Board to oversee management&#8217;s
investment conclusions and the execution of major Board-approved capital expenditure projects that further the Company&#8217;s strategic plans. The IPC helps the Board in fulfilling
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
its oversight responsibilities with respect to broadly reviewing and monitoring project management and control processes, financial profile, capital costs, procurement practices and project
schedules in a more <FONT STYLE="white-space:nowrap">in-</FONT> depth manner than time permits during regularly scheduled Board meetings. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The responsibilities of other stakeholders within our risk management oversight structure are described below: </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The CEO and executive management review and report on key risks quarterly. Specific Trading Risk Management reviews are held monthly by the Commodity Risk and Compliance Committee and weekly by the commodity risk team, the
commercial managers in Trading and Marketing and the Executive Vice-President, Finance and Chief Financial Officer. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Investment Committee is a management committee chaired by our Executive Vice-President, Finance and Chief Financial Officer and comprises the President and Chief Executive Officer; Executive Vice-President, Generation; Executive Vice-President,
Commercial and Customer Relations; and Vice-President, Corporate Strategy. It reviews and approves all major capital expenditures including growth, productivity, life extensions and major coal outages. Projects that are approved by the Investment
Committee will then be put forward for approval by the Board, if required. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Commodity Risk&nbsp;&amp; Compliance
Committee is chaired by our Executive Vice-President, Finance and Chief Financial Officer and comprises at least three members of senior management. It oversees the risk and compliance program in trading and ensures that this program is adequately
resourced to monitor trading operations from a risk and compliance perspective. It also ensures the existence of appropriate controls, processes, systems and procedures to monitor adherence to policy. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Hydro Operating Committee consists of two members who are Brookfield employees with expertise in hydro facility management and
two TransAlta members. This committee was formed in 2019 to collaborate on matters in connection with the operation and maximization of the value of TransAlta&#8217;s Alberta Hydro Assets. It is delivering on its objectives by reviewing the
operating, maintenance, safety and environmental aspects of TransAlta&#8217;s Alberta Hydro Assets and, following that review, providing advice and recommendations to TransAlta&#8217;s hydro operational team. The Hydro Operating Committee has an
initial term of six years, which can be extended for an additional two years. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta is listed on the Toronto Stock
Exchange and the New York Stock Exchange and is subject to the governance regulations, rules and standards applicable under both exchanges. Our corporate governance practices meet the following governance rules and guidelines of the TSX and Canadian
Securities Administrators: (i)&nbsp;Multilateral Instrument </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M135</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">52-109</FONT> &#8212; Certification of Disclosure in
Issuers&#8217; Annual and Interim Filings; (ii)&nbsp;National Instrument <FONT STYLE="white-space:nowrap">52-110</FONT> &#8212; Audit Committees; (iii)&nbsp;National Policy <FONT STYLE="white-space:nowrap">58-201</FONT> &#8212; Corporate Governance
Guidelines; and (iv)&nbsp;National Instrument 58-101 &#8212; Disclosure of Corporate Governance Practices. As a &#8220;foreign private issuer&#8221; under U.S. securities laws, we are generally permitted to comply with Canadian corporate governance
requirements. Additional information regarding our governance practices can be found in our most recent management information circular. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>Risk Controls </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our risk controls have several key components: </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Enterprise Tone </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">We strive to foster beliefs and actions that are true to and respectful of our many stakeholders. We do this by investing in communities where we live and work, operating and growing sustainably, putting safety first and being
responsible to the many groups and individuals with whom we work. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Policies </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We maintain a comprehensive set of enterprise-wide policies. These policies establish delegated authorities and limits for business
transactions, and they allow for an exception approval process. Periodic reviews and audits are performed to ensure compliance with these policies. All employees and directors are required to sign the Corporate Code of Conduct on an annual basis.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Reporting </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">On a regular basis, residual risk exposures are reported to key decision-makers including the Board, the AFRC, senior management and/or the Commodity Risk&nbsp;&amp; Compliance Committee, as applicable. Reporting to this latter
committee includes analysis of new risks, monitoring of status to risk limits, the review of events that can affect these risks and discussion and the review of the status of actions to minimize risks. This monthly reporting provides for effective
and timely risk management and oversight. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Whistleblower System </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have a process in place where employees, contractors, shareholders or other stakeholders may confidentially or anonymously report
any potential legal or ethical concerns, including concerns relating to accounting, internal control accounting, auditing or financial matters or relating to alleged violations of any laws or our Corporate Code of Conduct. These concerns can be
submitted confidentially and anonymously, either directly to the AFRC or through TransAlta&#8217;s toll-free telephone or online Ethics Helpline. The AFRC Chair is immediately notified of any material complaints and, otherwise, the AFRC receives a
report at every quarterly committee meeting on all findings related to any material complaints or
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
complaints relating to accounting or financial reporting or alleged breaches in internal controls over financial reporting. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Value at Risk and Trading Positions </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Value at risk (VaR) is one of the primary measures used to manage our exposure to market risk resulting from commodity risk
management activities. VaR is calculated and reported on a daily basis. This metric describes the potential change in the value of our trading portfolio over a <FONT STYLE="white-space:nowrap">three-day</FONT> period within a 95&nbsp;per cent
confidence level, resulting from normal market fluctuations. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">VaR is a commonly used metric that is employed by industry
to track the risk in commodity risk management positions and portfolios. Two common methodologies for estimating VaR are the historical variance/covariance and scenario analysis approaches. We estimate VaR using the historical variance/covariance
approach. An inherent limitation of historical variance/covariance VaR is that historical information used in the estimate may not be indicative of future market risk. Stress tests are performed periodically to measure the financial impact to the
trading portfolio resulting from potential market events, including fluctuations in market prices, volatilities of those prices and the relationships between those prices. We also employ additional risk mitigation measures. VaR at Dec. 31, 2024,
associated with our proprietary commodity risk management activities was $3&nbsp;million (2023 &#8211; $4 million). Refer to the Risk Factors &#8211; Commodity Price Risk section of this MD&amp;A below for further discussion. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Risk Factors </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Risk is an inherent factor of doing business. The following section addresses some, but not all, risk factors that could affect our future plans, performance, results or outcomes and our activities in mitigating those risks. These
risks do not occur in isolation, but must be considered in conjunction with each other. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A reference herein to a material
adverse effect on the Company means such an effect on the Company or its business, operations, financial condition, results of operations and/or its cash flows, as the context requires. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For some risk factors, we show the <FONT STYLE="white-space:nowrap">after-tax</FONT> effect on net earnings (loss) of changes in
certain key variables. The analysis is based on business conditions and production volumes in 2024. Each item in the sensitivity analysis assumes all other potential variables are held constant. While these sensitivities are applicable to the period
and the magnitude of changes on which they are based, they may not be applicable in other periods, under other economic circumstances or for a greater magnitude of changes. The changes in rates should also not be assumed to be proportionate to
earnings in all instances. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M136</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Equipment failure and the operation and maintenance of our facilities involve risks that may
materially and adversely affect our business. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">There is a risk of equipment failure or underperformance to our
operations due to wear and tear, latent defect, design error or operator error, among other things, which could have a material adverse effect on our business. Although our generation facilities have generally operated in accordance with
expectations, there can be no assurance that they will continue to do so. Our facilities are exposed to operational risks that can lead to outages and increased production risk which could have a material adverse effect on our business. Further,
some of our generation facilities were constructed many years ago and may require significant capital expenditures to maintain peak reliability or operations. Newer facilities also require various levels of capital expenditures to maintain peak
reliability or operations. There can be no assurance that our maintenance program will be able to detect potential failures in our facilities before they occur or eliminate all adverse consequences in the event of failure. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As well, we are exposed to procurement risk for specialized parts that may have long lead times. If we are unable to procure these
parts when they are needed for maintenance activities, we could face an extended period where our equipment is unavailable to produce electricity. Further, if a manufacturer is unable or unwilling to provide satisfactory maintenance or warranty
support on reasonable terms, we may have to enter into alternative arrangements with other providers or perform the services ourselves. These arrangements could be more expensive to us than our current arrangements and if we are unable to enter into
satisfactory alternative arrangements, our inability to access technical expertise or parts could have a material adverse effect on us. TransAlta manages this risk with our capital spares policy. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">While we maintain an inventory of, or otherwise make arrangements to obtain, spare parts to replace critical equipment and maintain
insurance for property damage and business interruption to protect against certain operating risks, these protections may not be adequate to cover lost revenues or increased expenses and penalties that could result if we were unable to operate our
generation facilities at a level necessary to comply with our contracts. In addition, circumstances could arise in the future whereby the Company may be obligated to produce power at a cost that exceeds the revenues being derived therefrom.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">There can be no assurance that any applicable insurance coverage would be adequate to protect our business from material
adverse effects. In addition, there can be no assurance that we will be able to restore equipment or assets that have reached the end of their useful lives.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We manage our generation equipment and technology risk by: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Operating our facilities within defined industry standards that optimize availability over their
commercial operating life; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Performing preventive maintenance in accordance with applicable industry practices, major equipment
supplier recommendations and our operating experience; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Adhering to comprehensive maintenance programs and regular turnaround schedules;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Adjusting maintenance plans by facility to reflect equipment type, age and commercial risk;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Having adequate business interruption insurance in place to cover extended forced outages;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Having clauses in our PPAs and other long-term contracts that allow us to declare force majeure in
the event of an unforeseen failure; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Selecting and applying proven technology in our generating facilities, where practical;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Where technology is newer, ensuring service agreements with equipment suppliers include appropriate
availability and performance guarantees; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Monitoring our fleet against industry performance to identify issues or advancements that may
impact performance and adjusting our maintenance and investment programs accordingly; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Negotiating strategic supply agreements with selected vendors to ensure key components are readily
available in the event of a significant outage; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Monitoring the condition of our assets and performing predictive analytics, and adjusting our
maintenance programs to maintain availability; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Entering into long-term arrangements with our strategic supply partners to ensure availability of
critical spare parts; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Implementing long-term asset management strategies that optimize the life cycles of our existing
facilities and/ or identify replacement requirements for generating assets. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Unexpected changes in the cost of
maintenance or in the cost and durability of components for the Company&#8217;s facilities may adversely affect the results of our operations. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Inflation or other increases in the Company&#8217;s cost structure that are beyond the control of the Company could materially
adversely impact our financial performance. Examples of such costs include, but are not limited to, unexpected increases in the cost of procuring materials and services required for
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M137</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">maintenance activities, and unexpected replacement or repair costs associated with
equipment underperformance or lower-than-anticipated durability. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Changes in the price of electricity may materially adversely affect
our business. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A portion of our revenues are tied, either directly or indirectly, to the market price for electricity
in the markets in which we operate, and in particular in the Alberta electricity market. Market electricity prices are impacted by a number of factors, including the strength of the economy, the available transmission capacity, the price of fuel
that is used to generate electricity (and, accordingly, certain of the factors that affect the price of fuel described below), the management of generation, the amount of excess generating capacity relative to load in a particular market, the cost
of controlling emissions and cost of carbon, the structure of the particular market, the availability of transmission (including from other jurisdictions), increased adoption of energy-efficiency and conservation initiatives, and weather conditions
that impact electrical load. As a result, we cannot precisely predict future electricity prices and electricity price volatility (particularly lower Alberta electricity prices) that could have a material and adverse effect on us. Further, the
Alberta market is the only fully deregulated electricity market in Canada and this market structure permits corporate offtakers to invest in new renewable generation in the province solely for ESG reasons (i.e., to align with decarbonization goals)
that may not align with supply and demand fundamentals. This could potentially result in an oversupply of intermittent electricity in the Alberta electricity market and could put downward pressure on electricity prices and contribute to significant
price volatility in the near term. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our facilities and construction projects have structured agreements in their
contracts around force majeure events that are beyond our control, but positions the organization to industry standards for insurance or contract claw back in costs. Such events could result in material adverse effects. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our facilities, construction projects and operations are exposed to potential interruption and damage, or partial or full loss
resulting from environmental disasters (e.g., floods, high winds, fires, ice storms, earthquakes and public health crises, such as pandemics and epidemics), other seismic activity and equipment failures. Climate change can also increase the
frequency and severity of these extreme weather events. There can be no assurance that in the event of an earthquake, flood, cyclone, hurricane, tornado, tsunami, terrorist attack, act of war or other natural,
<FONT STYLE="white-space:nowrap">man-</FONT> made or technical catastrophe, all or some parts of our generation facilities and infrastructure systems will not be disrupted. The occurrence of a significant event that disrupts the ability of our power
generation assets
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
to produce power for an extended period, including events that preclude existing customers under PPAs from purchasing electricity, could have a material negative impact on our business. Our
facilities, construction projects and operations could be exposed to the effects of severe weather conditions, natural and <FONT STYLE="white-space:nowrap">man-made</FONT> disasters and other potentially catastrophic events. The occurrence of such
an event may not release us from performing our obligations pursuant to PPAs or other agreements with third parties. In addition, many of our generation facilities are located in remote areas, which can make repair of damage costly or difficult to
access. Catastrophic events, including public health crises, could result in volatility and disruption to global supply chains, disruption to global financial markets, trade and market sentiment, risks to employee health and safety, a slowdown or
temporary suspension of operations in impacted locations, postponements in the initiation and/or completion of the Company&#8217;s development or construction projects, and delays in the completion of services, any of which may result in the Company
incurring penalties under contracts, additional costs or the cancellation of contracts. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Risks relating to TransAlta&#8217;s
development and growth projects and acquisitions may materially and adversely affect us. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Development and growth
projects and acquisitions that we undertake may be subject to execution and capital cost risks, including, but not limited to, risks relating to regulatory approvals, third-party opposition, cost escalations, securing land rights, construction
delays, shortages of raw materials, supply chain constraints, or skilled labour and capital constraints. The occurrences of these risks could have a material and adverse impact on us, our financial condition, our ability to operate and our cash
flows. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Expansion of our business through development projects and acquisitions may place increased demands on our
management, operating systems, internal controls and financial and physical resources. In addition, the process of integrating acquired businesses or development projects may involve unforeseen difficulties. Failure to successfully manage or
integrate any acquired businesses or development projects could have a material adverse impact on us, our financial condition, our ability to operate and our cash flows. Further, we cannot make assurances that we will be successful in integrating
any acquisition or that the commercial opportunities or operational synergies of any acquisition will be realized as expected. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">We may pursue acquisitions in new markets that are subject to regulation by various foreign governments and regulatory authorities and to the application of foreign laws. Such foreign laws or regulations may not provide for the same
type of legal certainty and rights, in connection with our contractual relationships in such countries, as are afforded to us currently,
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M138</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">which may adversely affect our ability to receive revenues or enforce our rights in
connection with any such foreign operations. In addition, the laws and regulations of some countries may limit our ability to hold a majority interest in some of the projects that we may acquire, thus limiting our ability to control the operation of
such projects. Any existing or new operations may also be subject to significant political, economic and financial risks, which vary by country, and may include: (a)&nbsp;changes in government policies or personnel; (b)&nbsp;changes in general
economic conditions; (c)&nbsp;restrictions on currency transfer or convertibility; (d)&nbsp;changes in labour relations; (e)&nbsp;political instability and civil unrest; (f)&nbsp;regulatory or other changes in the local electricity market; and
(g)&nbsp;breach or repudiation of important contractual undertakings by governmental entities and expropriation and confiscation of assets and facilities for less than fair market value. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">With respect to acquisitions, we cannot make assurances that we will identify suitable transactions or that we will have access to
sufficient resources, through our credit facilities, the capital markets or otherwise, to pursue and complete any identified acquisition opportunities on a timely basis and at a reasonable cost. Any acquisition that we propose or complete would be
subject to regulatory approvals and other normal commercial risks that could result in the transaction not being completed on the terms anticipated, on time, or at all. In the event we are unable to close a transaction that we&#8217;ve entered into,
we may be subject to termination fees that could become payable to the vendor. An unavoidable level of risk remains regarding potential undisclosed or unknown liabilities relating to any acquisition. The existence of such undisclosed liabilities may
have a material adverse impact on our business, financial condition, results of operations and cash flows. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">There can be
no assurance that the Company will realize the anticipated benefits in respect of the Heartland Generation acquisition. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The acquisition of Heartland Generation may not deliver the anticipated benefits expected to arise from such transaction, including
as it pertains to accretion to free cash flow, the remaining life of the Heartland Generation assets and the ability for such assets to generate sufficient average annual EBITDA to meet the Company&#8217;s expectations. Furthermore, as with all
development projects, there are risks related to the development of the 400 MW Battle River Carbon Hub Project held by Heartland Generation, including risk relating to the project&#8217;s continued development, the ability to obtain regulatory
approval and the economic outlook required to support a final investment decision.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We could suffer lost revenues or increased expenses and penalties if we are unable to operate our
generation facilities at a level necessary to comply with our PPAs. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The ability of our facilities to generate the
maximum amount of power or steam that can be sold under PPAs is an important determinant of our revenues. Under certain PPAs, if the facility is not capable of generating electricity or steam for the required availability in a given contract year,
penalty payments may be payable to the relevant purchaser by us and could give rise to termination rights. The payment of any such penalties or the termination of such PPAs could adversely affect our revenues and profitability. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We are dependent on access to parts and equipment from certain key suppliers and we may be adversely affected if these relationships are not
maintained. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our ability to compete and expand depends on having access, at a reasonable cost, to equipment, parts
and components that are technologically and economically competitive with those used by our competitors. Although we have individual framework agreements with various suppliers, there can be no assurance that these relationships with suppliers will
be maintained or not adversely affected. If they are not maintained, or are adversely affected, our ability to compete may be impaired due to lack of access or significant delays to the supply of equipment, parts or components. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We depend on certain joint venture, strategic and other partners that may have interests or objectives that conflict with our objectives and
such differences could have a negative impact on us. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have entered into various arrangements with communities or
joint venture, strategic or other partners in connection with the operation of our facilities and assets. Certain of these partners may have or develop interests or objectives that are different from, or in conflict with, our objectives. Any such
differences could have a negative impact on the Company&#8217;s ability to realize the anticipated benefits of, or the anticipated increase in the value of facilities or assets subject to, these arrangements. We are sometimes required through the
permitting and approval processes to notify and consult with various stakeholder groups, including landowners, Indigenous groups and municipalities. Any unforeseen delays in this process may negatively impact our ability to complete any given
facility on time or at all and could result in write-offs or give rise to reputational harm. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M139</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Dam and dyke failures may result in lost generating capacity, increased maintenance and repair
costs and other liabilities. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A natural or <FONT STYLE="white-space:nowrap">man-made</FONT> disaster, and certain
other events, including natural or induced seismic activity, could potentially cause dam failures at our hydroelectric facilities and various dam sites. The occurrence of dam or dyke failures at any of our facilities could result in a loss of
generating capacity, damage to the environment or damages and harm to third parties or the public, and such failures could require us to incur significant expenditures of capital and other resources or expose us to significant liabilities for
damages. There can be no assurance that our dam safety program will be able to detect potential dam failures prior to their occurrence or eliminate all adverse consequences in the event of failure. Other safety regulations could change from time to
time, potentially impacting our costs and operations. Reinforcing all dams or dykes to enable them to withstand more severe events could require us to incur significant expenditures of capital and other resources. The consequences of dam or dyke
failures could have a material adverse effect on us. This includes any increased risk of dam failure due to induced seismic activity triggered by fracking near our hydroelectric facilities, which could increase the risk of dam failure or require the
Company to incur potentially significant capital investments to mitigate such risk and that would not otherwise be required. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>The
power generation industry has certain inherent risks related to worker health and safety, and the environment, that could cause us to suffer unanticipated expenditures or to incur fines, penalties or other consequences material to our business and
operations. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The ownership and operation of our power generation assets carry an inherent risk of liability and
reputational harm related to worker health and safety, and the environment, including the risk of government-imposed orders to remedy unsafe conditions and/or to remediate or otherwise address environmental contamination, potential penalties for
contravention of health, safety and environmental laws, licences, permits and other approvals, and potential civil liability. Compliance with (and any future changes to) health, safety and environmental laws and the requirements of licences, permits
and other approvals are expected to remain material to our business. The occurrence of any of these events or any changes, additions to, or more rigorous enforcement of health, safety and environmental laws, licences, permits or other approvals
could have a significant impact on our operations and/or result in additional material expenditures. As a consequence, no assurances can be given that additional environmental and workers&#8217; health and safety issues relating to presently known
or unknown matters will not
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
require unanticipated expenditures, or result in fines, penalties or other consequences (including changes to operations) material to our business and operations. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Climate change and other variations in weather can affect demand for electricity and our ability to generate electricity. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Due to the nature of our business, our earnings are sensitive to weather variations from period to period, as well as long-term
changes due to climate change. Variations in winter weather affect the demand for electrical heating requirements. Variations in summer weather affect the demand for electrical cooling requirements. These variations in demand can translate into
electricity market price volatility. Variations in precipitation also affect water supplies, which in turn affect our hydroelectric assets. Also, variations in sunlight and wind conditions can have an effect on energy production levels from our
solar and wind facilities. Typically, when winters are warmer or summers are cooler, demand for energy is lower than expected, resulting in less electricity consumption than forecasted and often resulting in lower than expected market prices for
electricity. Conversely, when winters are colder or summers are warmer, market prices for natural gas or electricity tend to be higher; however, in these circumstances, if we have entered into hedges and are unable to produce or consume the amount
of natural gas or electricity that we have hedged we could be required to purchase additional volumes at higher prices to cover our hedge position. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our generation facilities and their operations are exposed to potential damage and partial or complete loss resulting from
environmental disasters (e.g., floods, strong winds, wildfires, earthquakes, tornados and cyclones), equipment failures and other events beyond our control, which could make it difficult for the Company to continue to generate electricity during
such periods, and such circumstances could pose threats to the Company&#8217;s equipment and personnel. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The accumulation
of ice on wind turbine blades depends on a number of factors including temperature and ambient humidity, and can have a significant impact on energy yields and could result in the wind turbine experiencing more downtime. Extreme cold temperatures
can also impact the ability of wind turbines to operate effectively, and this could result in more downtime and reduced production. Sudden temperature changes can create an increased risk of ice crystals that can pose a number of constraints on our
hydro operations. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Climate change is expected to change the volume and timing of precipitation which may impact the
ability of hydro facilities to maximize the generation from available water. These changes in flow may result in additional operational costs to manage water through the hydro plants. Variations in weather may be impacted by climate change resulting
in sustained </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M140</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">higher temperatures, rising sea levels and altered precipitation patterns that could
have an impact on our generating assets. Furthermore, climate change could result in increased variability or sustained long-term changes to our water and wind resources impacting hydroelectric and wind electricity generation, which could adversely
affect our revenues and profitability. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Variation in wind levels may negatively impact the amount of electricity generated at our
wind facilities. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Given that wind is variable, the amount of electricity produced from our wind facilities is also
variable. In addition, the strength and consistency of the wind resource at our wind facilities may vary from what we anticipate due to a number of factors, including the extent to which our site-specific historic wind data and wind forecasts
accurately reflect actual long-term wind speeds, strength and consistency, the potential impact of climatic factors, the accuracy of our assumptions relating to, among other things, weather, icing, degradation, site access, wake and wind shear line
losses and wind shear, and the potential impact of topographical variations and the potential for electricity losses to occur before delivery. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A reduced amount of wind at the location of one or more of our wind facilities over an extended period may reduce the production
from such facilities, as well as any environmental attributes that accrue to us related to that production and reduce our revenues and profitability. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>There can be no assurance that we will achieve or be able to adhere to our sustainability targets and any failure to do so may present adverse consequences to our business. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company annually establishes sustainability targets to, among things, manage current and emerging material sustainability
issues, which include targets relating to decarbonization (refer to the 2025+ Sustainability Targets section of this MD&amp;A for details). The Board of Directors has the discretion to determine the sustainability targets being adopted by the
Company and may modify or cancel any previously established sustainability target at any time. The Board of Director&#8217;s determination to establish, alter or cancel any sustainability target will depend on, among other things: the United Nations
Sustainable Development Goals; results of operations; technological considerations; financial condition; market opportunities; legal, regulatory and contractual considerations; and other relevant factors. Further, there is no certainty that the
Company will be successful in achieving any particular sustainability target within the stated time frame, or at all. If we are not able to achieve, or adhere to, our sustainability targets, we may not satisfy our stakeholders&#8217;
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
current and future expectations, which could negatively impact our reputation and could result in certain investors being unable to hold our common shares. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Many of our activities and properties are subject to environmental regulations, and any liabilities arising under these requirements may
materially adversely affect our business. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our operations are subject to federal, provincial, state and local
environmental laws, regulations and guidelines relating to the generation and transmission of electrical and thermal energy and surface mine reclamation (collectively, environmental regulations). These environmental regulations pertain to pollution
and the protection of the environment, health and safety, and govern, among other things, air emissions, water usage and discharges, storage, treatment and disposal of waste and other materials, and remediation of sites and responsible land use.
These laws and regulations can impose liability and obligations for costs to investigate and remediate contamination without regard to fault, and under certain circumstances liability may be joint and several, resulting in one responsible party
being held responsible for the entire obligation. Environmental regulations can also impose, among other things, restrictions, liabilities and obligations in connection with the generation, handling, use, storage, transport, treatment and disposal
of hazardous substances and waste, and can impose cleanup, disclosure or other responsibilities with respect to spills, releases and emissions of various substances to the environment. Environmental regulations can also require that facilities and
other properties associated with our operations be operated, maintained, abandoned and reclaimed to the satisfaction of applicable regulatory authorities. In addition, the relative stringency of environmental regulations can reduce or decline based
on political direction, resulting in potentially unstable policy environments at national, state/province and regional levels in Canada, the U.S. and Western Australia, which may impose different compliance requirements or standards on our business.
These various compliance standards may impact costs and/or our ability to operate our facilities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Changes in standards,
new or amended regulation, increased enforcement by regulatory authorities, more extensive permitting requirements, an increase in the number and types of assets operated by the Company subject to environmental regulation and the implementation or
change to regional, provincial, state and national environmental regulations may impose varying obligations on us in the jurisdictions in which we operate, and could increase our expenditures. To the extent these expenditures cannot be passed
through to our customers under our PPAs or otherwise, our costs could be material. In addition, compliance with environmental regulation may result in restrictions on some of our operations. It is
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M141</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">anticipated that compliance costs are at risk of change due to increased political
and public attention. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">If we do not comply with environmental regulations, regulatory agencies could seek to impose
statutory, administrative and/or criminal liabilities on us, curtail our operations, or require significant expenditures on compliance, new equipment or technology, reporting obligations and research and development. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">With Bill <FONT STYLE="white-space:nowrap">C-59</FONT> we anticipate continued and growing scrutiny by lawyers and other
stakeholders relating to sustainability performance. We could face civil liability in the event that private parties seek to impose liability on us for property damage, personal injury or other costs and losses. We cannot guarantee that lawsuits or
administrative or investigative actions will not be started against us and otherwise affect our operations and assets. If an action is filed against us or may otherwise affect our operations and assets, we could be required to make substantial
expenditures to defend against, or provide evidence of our activities or to bring our Company, our operations and assets into compliance, which could have a material adverse effect on our business. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The estimated reclamation costs applicable to the Company&#8217;s operations may be inaccurate and could require greater financial
resources than currently anticipated. As an owner of mines that were previously in operation, we maintain permits from the applicable regulatory body providing for the authorization of certain mining operations that result in a disturbance of the
surface. These requirements sought to limit the adverse impacts of coal mining with more restrictive requirements potentially being adopted from time to time. As an owner of mines that were previously in operation, we may also be required to submit
a bond or otherwise secure payment of certain long-term obligations including mine closure or reclamation costs. Surety bond costs have increased in recent years and the market terms of such bonds have generally become more unfavourable. In
addition, the number of companies willing to issue surety bonds has decreased. We could be required to self-fund these obligations should we be unable to renew or secure the required surety bonds for our mining operations or if it becomes more
economical to do so. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We manage environmental compliance risk by: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Seeking continuous improvement in numerous performance metrics such as emissions, safety, land and
water impacts and environmental incidents; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Staffing projects during construction and maintenance activities with expert environmental firms to
help assure compliance during the project execution process and long term operations of the asset; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Conducting environmental, health and safety management system audits to assess conformance to our
Total Safety
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left" COLOR="#636466">&nbsp;</TD>
<TD WIDTH="1">&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">
Management System, which is designed to continuously improve performance; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Committing significant experienced resources to work with regulators in Canada, Western Australia
and the U.S. to advocate that regulatory changes are well-designed and cost-effective; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Developing compliance plans that address how to meet or surpass emission standards for GHG,
mercury, SO<SUB STYLE="font-size:75%; vertical-align:bottom">2</SUB> and NOx, which will be adjusted as regulations are finalized; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Purchasing carbon emissions reduction offsets or credits; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Investing in renewable energy projects, such as wind, solar and hydro generation and storage
technologies; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Incorporating
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">change-in-law</FONT></FONT> provisions in contracts that allow recovery of certain compliance costs from our customers. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We are committed to remaining in compliance with all environmental regulations relating to operations and facilities. Compliance
with both regulatory requirements and management system standards is regularly audited through our performance assurance policy and results are reported to the GSSC. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>The laws and regulations in the various markets in which we operate are subject to change, which may materially adversely affect us.
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Most of the markets in which we operate and intend to operate are subject to significant regulatory oversight and
control. We are not able to predict whether there will be any further changes in the regulatory environment, including potential carbon and other environmental regulations, changes in market structure or market design, or changes in other laws and
regulations. Existing market rules, regulations and reliability standards are often dynamic and may be revised or <FONT STYLE="white-space:nowrap">re-interpreted,</FONT> and new laws and regulations may be adopted or become applicable to us or our
facilities, which could have a material adverse effect on us. Many of our projects must also comply with reliability standards, including those established by the North American Electric Reliability Corporation and Alberta Reliability Standards.
Failure to comply with these mandatory reliability standards could result in sanctions, including substantial monetary penalties. We manage these risks systematically through a regulatory and compliance program designed to reduce any potential
negative impact on us. However, we cannot guarantee that we will be able to adapt our business in a timely manner in response to any changes in the regulatory regimes in which we operate, and such failure to adapt could have a material adverse
effect on our business. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M142</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Regulatory authorities may also from time to time audit or investigate our activities
in the markets in which we operate or pursue trading. Such audits or investigations may result in sanctions or penalties that may materially affect our future activities, reputation or financial status. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our facilities are also subject to various licensing and permitting requirements in the jurisdictions in which we operate. Many of
these licences and permits need to be renewed from time to time. If we are unsuccessful in obtaining or renewing such licences or permits, or the terms of such licences or permits are changed in a manner that is adverse to our business, we could be
materially adversely affected. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Any changes in the rules and regulations of provincial or state public utility
commissions or other regulatory bodies in the other markets in which we compete, or may compete in the future, may materially adversely affect us.The laws and regulations in the various markets in which we operate are subject to change, which may
materially adversely affect us. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>The reduction, elimination or expiration of government subsidies and economic incentives could
adversely affect our prospects for growth. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We seek to take full advantage of government policies that promote
renewable power generation and enhance the economic feasibility of renewable power projects. Renewable power generation sources currently benefit from various incentives in the form of <FONT STYLE="white-space:nowrap">feed-in</FONT> tariffs,
rebates, tax credits, renewable portfolio standards (such as the U.S. government policy mechanism that supports the adoption of renewable power by setting a targeted percentage of a jurisdiction&#8217;s total electricity procurement from renewable
power) and other incentives throughout the markets in which we participate or intend to participate. If incentives are removed, we would expect to see some reduction in development opportunities, but given that all generators would be in the same
boat, the impact may be muted. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We may be adversely affected if our supply of water is materially reduced. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our hydroelectric and natural gas facilities and our coal- fired facility require continuous water flow for their operation. Shifts
in weather or climate patterns, seasonable precipitation, the timing and rate of melting, <FONT STYLE="white-space:nowrap">run-off</FONT> and other factors beyond our control may reduce the water flow to our facilities. Any material reduction in the
water flow to our facilities would limit our ability to produce and market electricity from these facilities and could have a material adverse effect on us. There is an increasing level of regulation respecting the use, treatment and discharge of
water, and respecting the licensing of water rights in jurisdictions where we operate. Any such
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
change in regulations could have a material adverse effect on&nbsp;us. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Availability or disruption of fuel supply to our thermal plants could have an adverse impact on the operation of our facilities and our
financial condition. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our gas facilities rely on having adequate supplies of natural gas and our Centralia facility
requires adequate supplies of coal to run the facility reliably and at full capacity. As a result, we face the risk of not having adequate fuel supplies available due to insufficient natural gas transportation service, disruptions in fuel supplies
due to weather, strikes, lockouts, or breakdowns of equipment, the timing of receiving regulatory approvals or we could be materially adversely affected if the cost of fuel that we must buy to generate electricity increases to a greater degree than
the price that we can obtain for the electricity that we sell. Several factors affect the price of fuel, many of which are beyond our control, including: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Prevailing market prices for fuel; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Global demand for energy products; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The cost of carbon and other environmental concerns; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Weather-related disruptions affecting the ability to deliver fuels or near-term demand for fuels;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increases in the supply of energy products in the wholesale power markets;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Political instability, including the war in Ukraine; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The extent of fuel transportation capacity, cost of fuel transportation service into our markets or
potential rail strikes; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The cost of mining or extraction that, in turn, depends on various factors such as labour market
pressures, equipment replacement costs and permitting. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Changes in any of these factors may increase
our cost of producing power or decrease the amount of revenue received from the sale of power, which could have a material adverse effect on us. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In the event the Company secures more natural gas than required to operate its facilities, the Company may have difficulty reselling
such natural gas and it could be exposed to the market price for natural gas in respect of any such resales. There is no certainty that the Company will be successful in reselling or recovering its costs in respect of such resales of natural gas.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As well, the coal used to fuel the Centralia facility is sourced from the Powder River Basin in Montana and Wyoming
through contracts to purchase and transport such coal to our Centralia facility. The loss of our suppliers or inability to receive coal at Centralia under our existing coal contracts at sufficient
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M143</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">quantities, or at all, could also significantly affect our ability to serve our
customers and have an adverse impact on our financial condition and results of operations. We could face the risk of inadequate supply service due to our reliance on the Pioneer Pipeline and on the ATCO Pipeline as a significant provider of natural
gas for our Sundance and Keephills units. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We manage gas supply and price risk by: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Working to ensure that we have at least two pipelines supplying the gas used in electrical
generation in Alberta; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Contracting for firm gas delivery and supply; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Monitoring the financial viability of gas producers and pipelines; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Hedging gas price exposure; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Monitoring pipeline maintenance schedules and transportation availability.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We manage coal supply and price risk by: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Sourcing the coal used at Centralia from different mine sources to ensure sufficient coal is
available at a competitive cost; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Contracting sufficient trains to deliver the coal requirements at Centralia;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Ensuring coal inventories on hand at Centralia are at appropriate levels for usage requirements;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Ensuring efficient coal handling and storage facilities are in place so that the coal being
delivered can be processed in a timely and efficient manner; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Monitoring and maintaining coal specifications and carefully matching the specifications mined with
the requirements of our facilities; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Monitoring the financial viability of Centralia suppliers; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Hedging diesel exposure in mining and transportation costs. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In managing gas supply risk the company will enter into long term transportation service agreements to ensure that facilities have
adequate gas supply. This also could result in the additional risk of of being in a surplus position where some of the transportation capacity may not be needed, and the Company is still required to pay for the unused transportation. To manage this
risk the Company will remarket excess natural gas transport capacity in the short-term while seeking long-term or permanent assignments.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Our facilities rely on national and regional transmission systems and related facilities that are
owned and operated by third parties and have both regulatory and physical constraints that could impede access to electricity markets. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Our power generation facilities depend on electric transmission systems and related facilities owned and operated primarily by third parties to deliver the electricity that we generate to delivery points where ownership changes and
we are paid. The risks associated with the aging transmission infrastructure in the markets where we operate are increasing because new connections to the transmission system are consuming capacity faster than it is being added by new transmission
developments. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Further, transmission systems operate with both regulatory and physical constraints that in certain
circumstances may impede access to electricity markets. There may be instances in system emergencies in which our power generation facilities are physically disconnected from the power grid, or our production curtailed for periods of time. Most of
our electricity sales contracts do not provide for payments to be made if electricity is not delivered. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our power
generation facilities may also be subject to changes in regulations governing the cost and characteristics of use of the transmission and distribution systems to which our power generation facilities are connected. Our power generation facilities in
the future may not be able to secure access to this interconnection or transmission capacity at reasonable prices, in a timely fashion or at all, which could then cause delays and additional costs in attempting to negotiate or renegotiate PPAs or to
construct new projects. In addition, we may not benefit from preferential arrangements in the future. Any such increased costs and delays could delay the commercial operation dates of any new projects and negatively impact our revenues and financial
condition. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Cyberattacks may cause disruptions to our operations and could have a material adverse effect on our business.
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We rely on our information technology to process, transmit and store electronic information and data used for the
safe operation of our assets. Over the past few years, geopolitical tensions and the pandemic have significantly impacted the cybersecurity ecosystem, increasing the frequency and diversity of cyberattacks, including threats of <FONT
STYLE="white-space:nowrap">war-driven</FONT> cyberattacks (i.e., terrorism) against critical infrastructure and threat actors taking advantage of the pandemic (e.g., charity scams) and hybrid working environments. In the continuously evolving
cybersecurity threat landscape, any attacks or breaches of network or information systems may disrupt our business operations or compromise the proprietary,
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M144</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">confidential or personal information of the Company, its customers, partners or
others with whom the Company has dealings. Cyberattackers may use a range of techniques, from exploiting vulnerabilities within our user base (social engineering attacks), to using sophisticated malicious code on a single or distributed basis to try
to breach our network security controls. We anticipate that the cyber threat landscape will continue to evolve, with increasing threats of ransomware, compromised insider threats, supply chain attacks, advanced targeted phishing and artificial
intelligence. Cyber threats originate from various sources and vectors, from nation states, organized hacking groups or malware/ransomware. The cyber threat landscape continues to evolve, as we see cyber threats shift their focus from traditional
attacks against perimeter information technology systems, to more effective attacks, such as phishing and ransomware. A successful cyberattack may allow for the unauthorized interception, destruction, use or dissemination of proprietary,
confidential or personal information and may cause disruptions to our operations. As information technology /operation technology systems are integral to TransAlta&#8217;s business operations, the risk of a cybersecurity incident threatens the
safety of the public, TransAlta personnel and/or business functions, service delivery, reputation and profitability. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We
are subject to regulatory, legislative and business requirements (e.g., North American Electric Reliability Corporation Critical Infrastructure Protection, SOX, Privacy) and also adopt industry endorsed standards and frameworks (e.g., National
Institute of Standards and Technology, Critical Infrastructure Projection/Reliability Standards) as they pertain to our cybersecurity program and the implementation of our cybersecurity controls and processes. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">While we have cyber insurance, as well as systems, policies, procedures, practices, hardware, software applications and data backups
designed to prevent or limit the effect of security breaches of our network and infrastructure, there can be no assurance that these measures will be sufficient and that such security breaches will not occur or, if they do occur, that they will be
adequately addressed in a timely manner. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta has established a comprehensive cybersecurity program to manage
cybersecurity risks through effective security practices and structured and tailored plans. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta maintains
compliance to regulatory, legislative, and business requirements (e.g., NERC CIP, SOX, Privacy) by adopting industry-endorsed standards and frameworks (e.g., National Institute of Standards and Technology (NIST), CIP/Reliability Standards) to
implement a pragmatic <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">fit-for-purpose</FONT></FONT> cybersecurity program, implementing cybersecurity controls and processes under the following domains:
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Identify: TransAlta conducts comprehensive risk assessments to identify and document the
organization&#8217;s assets, systems and data, as well as potential risks and vulnerabilities. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Protect: TransAlta implements security controls, policies and procedures to safeguard the
organization&#8217;s assets, systems and data from unauthorized access, use, disclosure, disruption, modification or destruction. This includes implementing access controls, encryption, firewalls and intrusion detection/prevention systems to protect
the organization&#8217;s networks and systems. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Detect: TransAlta implements incident detection and response capabilities to detect and respond to
cyber incidents. This includes monitoring systems, networks and data for suspicious activity. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Respond: TransAlta has developed incident response plans, procedures and teams, and has provided
training and conducted exercises to ensure that these plans and procedures are operating effectively. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Recover: TransAlta has developed disaster recovery and business continuity plans, and it conducts
test exercises of these plans to ensure their effectiveness. This includes identifying critical systems, data and processes to ensure the continuity of business operations, as well as implementing backup and recovery solutions to ensure that the
organization&#8217;s data can be restored in the event of a disaster. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Although complete cyber risk
elimination is not achievable given the evolving cyber threat landscape, we believe that the security controls implemented to detect, prevent and respond to a cyber incident significantly reduce TransAlta&#8217;s cyber risk and potential incident
impact to acceptable levels. In addition, cyber insurance is utilized to further manage and transfer residual cyber risk to TransAlta&#8217;s business. We continue to improve our overall security maturity and defense capabilities against cyber
threats and align cybersecurity practices to industry standards, business objectives and regulatory compliance requirements. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Our
technology and systems for communication and monitoring may be vulnerable to security breaches or interruptions, which could result in increased operating expenses and other liabilities. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We rely on technology, mainly on computer, telephone, satellite, cellular and related networks and infrastructure, to conduct our
business and monitor the production of our generation facilities. These systems and infrastructure could be vulnerable to unforeseen problems including, but not limited to, cyberattacks, breaches, vandalism and theft. Our operations are dependent
upon our ability to protect our information and operating technology against damage from
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M145</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">fire, power loss, telecommunications failure or a similar catastrophic event. While
we have dedicated resources for maintaining appropriate levels of cybersecurity and we use third-party technology to help protect us against security breaches and cyber incidents, our measures may not be effective and our information technology and
infrastructure may be vulnerable to attacks by hackers or breached due to employee error, malfeasance or other disruptions. Any such security breaches and cyber incidents or other disruptions could jeopardize the security of information stored in
and transmitted through our systems and network infrastructure, and could result in significant setbacks and potential liabilities and deter future customers. Additionally, we must be able to protect our generation facility infrastructure against
physical damage and any service disruptions. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Any damage or failure that causes an interruption in operations could have
an adverse effect on our customers. While we have systems, policies, hardware, practices and procedures designed to prevent or limit the effect of failure or interruptions of our generation facilities and infrastructure, there can be no assurance
that these measures will be sufficient and that any such failures or interruptions will not occur or, if they do occur, that they will be adequately addressed in a timely manner. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We operate in a highly competitive environment and may not be able to compete successfully. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We operate in a number of Canadian provinces, as well as in the U.S. and Western Australia. These areas of operation are affected by
competition ranging from large utilities to small independent power producers, as well as private equity, pension funds, international conglomerates, traditional energy companies and technology firms. In addition, potential customers may look to
deploy their own capital to self-supply their own electricity needs. Some competitors have significantly greater financial and other resources than we do. Such competition could have a material adverse effect on our business. Emerging technology
affecting the demand, generation, distribution or storage of electricity may also significantly impact our business and ability to compete. Climate change and regulatory incentives are expected to drive innovation and transformation of the power
generation sector, including energy production and consumption, and there can be no certainty that the Company will benefit from such innovation or transformation. Furthermore, older facilities may over time be unable to compete with newer more
efficient facilities utilizing improvements to existing power technologies and cost-efficient new technologies, including gas turbines with lower heat rates. In Alberta, certain industrial customers rely on <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">behind-the-fence</FONT></FONT> generation; these customers are not being supplied electricity from the grid, which reduces the
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
competitive load in the province and puts downward pressure on pool prices. Further, certain large industrial companies in Alberta operate significant cogeneration facilities, which generate
steam required for their operations and often results in large amounts of excess generation being offered to the wholesale electricity market. These cogeneration facilities offer their energy into the market at low prices to ensure it is dispatched,
which results in the facility realizing an achieved price close to the average pool price, which potentially puts downward pressure on the pool price and could result in certain of the Company&#8217;s facilities not being dispatched. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Changes in general economic and market conditions may have a material adverse effect on us. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adverse changes in general economic and market conditions could negatively impact demand for electricity as well as our revenue,
operating costs, the timing and extent of capital expenditures, the net recoverable value of PP&amp;E, financing costs, credit and liquidity risk and counterparty risk which could cause us to suffer a material adverse effect. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We may be unsuccessful in legal actions. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We are occasionally named as a party in various disputes, claims and legal or regulatory proceedings that arise during the normal
course of our business. We review each of these claims, including the nature and merits of the claim, the amount in dispute or the remedy claimed and the availability of insurance coverage. There can be no assurance that any particular dispute,
claim or proceeding will be resolved in our favour or that our liabilities with respect to such claims will not have a material adverse effect on us. Refer to the Other Consolidated Analysis section of this MD&amp;A for further details. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We may have difficulty raising needed capital in the future, which could significantly harm our business. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">To the extent that our sources of cash and cash flow from operations are insufficient to fund our activities or we are unable to
divest assets to generate capital, we may need to raise additional funds. Additional financing may not be available when needed, and if such financing is available, it may not be available on terms that are favourable to our business. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Recovery of the capital investment in power projects generally occurs over a long period of time. As a result, we must obtain funds
from equity or debt financings, including tax equity transactions, or from government grants, to help finance the acquisition and development of projects and to support the general and administrative costs of operating our business. Our ability to
arrange financing, either at the corporate level or at the subsidiary level (including non-recourse project debt or tax
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M146</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">equity), and the costs of such capital are dependent on numerous factors, including:
(a)&nbsp;general economic and capital market conditions; (b)&nbsp;credit availability from banks and other financial institutions; (c)&nbsp;investor confidence and the markets in which we conduct operations; (d)&nbsp;our financial performance and/or
the expected financial performance of certain assets; (e)&nbsp;our level of indebtedness and compliance with covenants in our debt agreements; (f)&nbsp;our cash flow and/or the expected cash flow of certain assets; and (g)&nbsp;our credit ratings.
We are subject to certain financial covenants under our credit facility that could limit the amount of additional debt that the Company could raise in certain circumstances. An inability to raise project debt or tax equity financing could reduce the
number of projects that we are able to finance. If we are unable to raise additional funds when needed, we could be required to delay the acquisition and construction of growth projects, reduce the scope of projects, abandon or sell some of our
projects or generation facilities, or default on our contractual commitments in the future, any of which could adversely affect our business, financial condition and results of operations. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>TransAlta&#8217;s debt securities will be structurally subordinated to any debt of our subsidiaries that is currently outstanding or may be
incurred in the future. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We operate our business through, and a majority of our assets are held by, our subsidiaries,
including partnerships. Our results of operations and ability to service indebtedness are dependent upon the results of operations of our subsidiaries and the payment of funds by these subsidiaries to TransAlta in the form of loans, dividends or
otherwise. Our subsidiaries may be restricted in their ability to pay amounts due, or make any funds available to TransAlta, whether by dividends, interest payments, loans, advances or other payments. In addition, the payment of dividends and the
making of loans, advances and other payments to us by our subsidiaries may be subject to statutory or contractual restrictions or tax withholding amounts. In the event of the liquidation of any subsidiary, the assets of the subsidiary would be used
first to repay the indebtedness of the subsidiary, including trade payables or obligations under any guarantees, before being used to pay TransAlta&#8217;s indebtedness, including any debt securities issued by TransAlta. Such indebtedness and any
other future indebtedness of such subsidiaries would be structurally senior for such subsidiary to any debt securities issued by TransAlta. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Our subsidiaries have financed some investments using <FONT STYLE="white-space:nowrap">non-recourse</FONT> project financing. Each <FONT STYLE="white-space:nowrap">non-recourse</FONT> project loan is structured to be repaid out of
cash flow provided by the project. In the event of a default under a financing agreement that is not secured, the lenders would generally have rights to the related assets. In the event of foreclosure after a default,
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
our subsidiary may lose its equity in the asset or may not be entitled to any cash that the asset may generate. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>A downgrade of our credit ratings could materially and adversely affect us. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Rating agencies regularly evaluate us, basing their ratings of our long and short-term debt, along with our issuer rating, on a
number of factors. There can be no assurance that one or more of our credit ratings and the corresponding outlooks will not be changed. Our borrowing costs and ability to raise funds are directly impacted by our credit ratings. Credit ratings may be
important to suppliers or counterparties when they seek to engage in certain transactions with us. A credit rating downgrade could potentially impair our ability to enter into arrangements with suppliers or counterparties, to engage in certain
transactions, and could limit our access to private and public credit markets and increase the costs of borrowing under our existing credit facilities. See Note 15 of our audited consolidated financial statements for the year ended Dec. 31, 2024,
which financial statements are incorporated by reference herein. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Changes to our reputation may have a material adverse effect on us.
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Reputation risk relates to the risk associated with our business because of changes in opinion from the general
public, private stakeholders, governments, financiers and other entities. Our reputation is one of our most valued assets. The potential for harming our reputation exists in every business decision and all risks can have an impact on reputation,
which in turn can negatively impact our business and securities. Reputational risk cannot be managed in isolation from other forms of risk. Negative impacts from a compromised reputation could include revenue loss, reduction in our customer base and
the decreased value of our securities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We manage reputation risk by: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Striving as a neighbour and business partner, in the regions where we operate, to build viable
relationships based on mutual understanding leading to workable solutions with our neighbours and other community stakeholders; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Clearly communicating our business objectives and priorities to a variety of stakeholders on a
routine and transparent basis; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Applying innovative technologies to improve our operations, work environment and environmental
footprint; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Maintaining positive relationships with various levels of government; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Pursuing sustainable development as a longer-term corporate strategy;
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M147</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Ensuring that each business decision is made with integrity and in line with our corporate values;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Communicating the impact and rationale of business decisions to stakeholders in a timely manner;
and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Maintaining strong corporate values that support reputation risk management initiatives, including
the annual Code of Conduct <FONT STYLE="white-space:nowrap">sign-off.</FONT> </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We may fail to meet financial
expectations. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our quarterly revenue, earnings, cash flows and results of operations are difficult to predict and
fluctuate from quarter to quarter. Our quarterly results of operations are influenced by a number of factors, including the risks described in this MD&amp;A, many of which are outside of our control and that may cause such results to fall below
market expectations. Although we base our planned operating expenses in part on our expectations of future revenue, a significant portion of our expenses are relatively fixed in the short-term. If revenue for a particular quarter is lower than
expected, we will likely be unable to proportionately reduce our operating expenses for that quarter, which will adversely affect our results of operations for that quarter. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Our cash dividend payments are not guaranteed. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The payment of dividends is not guaranteed and could fluctuate. The Board of Directors has the discretion to determine the amount
and timing of any dividends to be declared and paid to our shareholders. In addition, the payment of dividends on common shares is, in all cases, subject to prior satisfaction of preferential dividends applicable to each series of our first
preferred shares. We may alter our dividend on common shares at any time. The Board of Directors&#8217; determination to declare dividends will depend on, among other things: results of operations; financial condition; current and expected future
levels of earnings; operating cash flow; liquidity requirements; market opportunities; income taxes; maintenance and growth capital expenditures; debt repayments; legal, regulatory and contractual constraints; working capital requirements; taxes
payable; and other relevant factors. Our short- and long-term borrowings may prohibit us from paying dividends at any time at which a default or event of default would exist under such debt, or if a default or event of default would exist as a
result of paying the dividend. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Over time, our capital and other cash needs may change significantly from our current
needs, which could affect whether we pay dividends and the amount of any dividends we may pay in the future. If we continue to pay dividends at the current level, we may not retain a sufficient amount of cash to finance growth opportunities, meet
any large unanticipated liquidity requirements or fund our operations in the event of a significant business downturn. The Board of Directors, subject
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
to the requirements of our bylaws and other governance documents, may amend, revoke or suspend our dividends at any time. A decline in the market price or liquidity, or both, of our common shares
could result if the Board of Directors reduces or eliminates the payment of dividends. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We are dependent on the
operations of our facilities for our cash availability. The actual amount of cash available for dividends to holders of our common shares will depend upon numerous factors relating to each of our generation facilities including: operating
performance of our generation facilities; profitability; changes in gross margin; fluctuations in working capital; capital expenditure levels; applicable laws; tax position; financing; compliance with contracts; and contractual restrictions
contained in the instruments governing any indebtedness. Any reduction in the amount of cash available for distribution from our generation facilities will reduce the amount of cash available to pay dividends to holders of our common shares.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>The market price for our common shares may be volatile. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The market price for our common shares may be volatile and subject to wide fluctuations in response to numerous factors, many of
which are beyond our control, including: (a) actual or anticipated fluctuations in our results of operations; (b)&nbsp;recommendations by securities research analysts; (c)&nbsp;changes in the economic performance or market valuations of other
companies that investors deem comparable; (d)&nbsp;the loss or resignation of executive officers and other key personnel; (e)&nbsp;sales or perceived sales of additional common shares; (f)&nbsp;significant acquisitions or business combinations,
strategic partnerships, joint ventures or capital commitments by or involving us or our competitors; and (g)&nbsp;trends, concerns, technological or competitive developments, regulatory changes and other related issues in the power generation
industry or our target markets. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Financial markets have experienced significant price and volume fluctuations that have
particularly affected the market prices of equity securities of companies and such fluctuations have, in many cases, been unrelated to the operating performance, underlying asset values or prospects of such companies. Accordingly, the market price
of our common shares may decline even if our operating results, underlying asset values or prospects have not changed. Additionally, these factors, as well as other related factors, may cause decreases in asset values that may result in impairment
losses. Certain institutional investors may base their investment decisions on consideration of our environmental, governance and social practices and performance against such institutions&#8217; respective investment guidelines and criteria, and
failure to meet such criteria may result in limited or no investment in our common shares by those institutions, which could adversely affect the trading price of our common shares.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M148</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We may not be able to extend, renew or replace expiring or terminated PPAs, or other customer
contracts at favourable rates or on a long-term basis. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our ability to extend, renew or replace our existing PPAs or
other customer contracts depends on a number of factors beyond our control, including, but not limited to: whether the PPA counterparty has a continued need for energy at the time of the agreement&#8217;s expiration; the presence or absence of
governmental incentives or mandates which prevails market prices; the availability of other electricity sources; the satisfactory performance of our obligations under such PPAs; the regulatory environment applicable to our contractual counterparties
at the time; macroeconomic factors present at the time, such as population, business trends, international trade laws, regulations, agreements, treaties, policies or other countries and related energy demand; and the effects of regulation on the
contracting practices of our contractual counterparties. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">If we are not able to extend, renew or replace on acceptable
terms existing PPAs before contract expiration, or if such agreements are otherwise terminated prior to their expiration, we may not have any ability to sell electricity to the market or to other customers. If we are able to sell electricity on an
uncontracted basis, we would sell electricity at prevailing market prices that could be materially lower than under the applicable contract. This could result in us having less stable cash flows. If there is no satisfactory market for a
project&#8217;s uncontracted energy, we may decommission the project before the end of its useful life. Any failure to extend, renew or replace a significant portion of our existing PPAs, or other customer contracts, or extending, renewing or
replacing them at lower prices or with other unfavourable terms, or the decommissioning of a project, could have a material adverse effect on our business, financial condition, results of operations and ability to pay dividends to our shareholders.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We may fail to fully or effectively hedge our supply and price risk exposure. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We closely monitor the risks associated with changes in electricity and input fuel prices on our future operations and, where we
consider it appropriate, use various physical and financial instruments to hedge our assets and operations from such price risks. The efficacy of our risk management and hedging program may be adversely impacted by unanticipated events and costs
that we are not able to effectively mitigate, including unanticipated events that impact supply and demand, such as extreme weather and unplanned outages. We may also be adversely impacted if we make incorrect assumptions that were relied upon in
establishing our hedges. We are exposed to changes in electricity prices and natural gas prices on purchases of electricity or natural gas from the market to fulfil
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
our supply obligations under these short- and long-term hedge contracts. If we are unable to produce or consume the amount of natural gas or electricity that we have hedged, we could incur losses
as we could be required to purchase additional volumes in the market at higher prices in order to cover our hedge position. Comparably, if the market price for electricity is higher than the hedged price we would be subject to the opportunity cost
associated with not realizing the higher market price. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We are also exposed to basis risk as certain of our generating
facilities receives the &#8220;node&#8221; price for the electricity it delivers to the grid while the financial PPA for such generating facility settles at the &#8220;hub&#8221; price. The differences between the &#8220;node&#8221; price and
&#8220;hub&#8221; price can be significant from time to time. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Trading risks may have a material adverse effect on our
business. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our trading and marketing business frequently involves establishing trading positions in the wholesale energy
markets on both a medium-term and short-term basis, and on both an asset and proprietary basis. To the extent that we have long positions in the energy markets, a downturn in market prices will result in losses from a decline in the value of such
long positions. Conversely, to the extent that we enter into forward sales contracts to deliver energy that we do not own, or take short positions in the energy markets, an upturn in market prices will expose us to losses as we attempt to cover any
short positions by acquiring energy in a rising market. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition, from time to time, we may have a trading strategy
consisting of simultaneously holding a long position and a short position, from which we expect to earn a profit based on changes in the relative value of the two positions. If, however, the relative value of the two positions changes in a direction
or manner that we did not anticipate, we would realize losses from such a paired position. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">If the strategy that we use
to hedge our exposures to these various risks is not effective, we could incur significant losses. Our trading positions can be impacted by volatility in the energy markets that, in turn, depend on various factors, including weather in various
geographical areas and short-term supply and demand imbalances, which cannot be predicted with any certainty. A shift in the energy markets could adversely affect our positions, which could also have a material adverse effect on our business.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We use a number of risk management controls conducted by our risk management group to limit our exposure to risks
arising from our trading activities. These controls include risk capital limits, Value at Risk, Gross Margin at Risk, tail risk scenarios, position limits, concentration limits, credit limits and approved product controls. We cannot guarantee that
losses </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M149</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">will not occur and such losses may be outside the parameters of our risk controls.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Certain of the contracts to which we are a party require that we provide collateral against our obligations. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We are exposed to risk under certain arrangements, including financial derivative contracts and electricity and natural gas purchase
and sale contracts entered into for the purposes of hedging and proprietary trading. The terms and conditions of these contracts may require us to provide collateral when the fair value of these contracts is in excess of any credit limits granted by
our counterparties and the contract obliges that we provide the collateral. The change in fair value of these contracts often occurs due to changes in commodity prices. These contracts include: (a)&nbsp;financial derivative contracts when forward
commodity prices are more or less than contracted prices, depending on the transactions; (b)&nbsp;purchase agreements, when forward commodity prices are less than contracted prices; and (c)&nbsp;sales agreements, when forward commodity prices exceed
contracted prices. Downgrades in our creditworthiness by certain credit rating agencies may decrease the credit limits granted by our counterparties and, accordingly, increase the amount of collateral that we may have to provide. Any increase in the
amount of collateral provided by the Company could reduce our liquidity and materially adversely affect us. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>If counterparties to our
contracts are unable to meet their obligations, we may be materially and adversely affected. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">If purchasers of our
electricity and steam or other contractual counterparties default on their obligations, we may be materially and adversely affected. While we have procedures and controls in place to manage counterparty credit risk before entering into contracts,
all contracts inherently contain default risk. Moreover, while we seek to monitor trading activities to ensure that the credit limits for counterparties are not exceeded, we cannot guarantee that a party will not default. If counterparties to our
contracts are unable to meet their obligations, we could suffer a reduction in revenue that could have a material adverse effect on our business.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We manage our exposure to credit risk by: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Establishing and adhering to policies that define credit limits based on the creditworthiness of
counterparties; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Contract term limits and restrictions on the credit concentration with any specific counterparty;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Requiring formal <FONT STYLE="white-space:nowrap">sign-off</FONT> on contracts that include
commercial, financial, legal and operational reviews; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Requiring security instruments, such as parental guarantees, letters of credit and cash collateral
or third- party credit insurance if a counterparty goes over its limits. Such security instruments can be collected if a counterparty fails to fulfil its obligation; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Reporting our exposure using a variety of methods that allow key decision-makers to assess credit
exposure by counterparty. This reporting allows us to assess credit limits for counterparties and the mix of counterparties based on their credit ratings. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">If established credit exposure limits are exceeded, we take steps to reduce this exposure, such as by requesting collateral, if
applicable, or by halting commercial activities with the affected counterparty. However, there can be no assurances that we will be successful in avoiding losses as a result of a contract counterparty not meeting its obligations. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As needed, additional risk mitigation tactics will be taken to reduce the risk to TransAlta. These risk mitigation tactics may
include, but are not limited to, immediate <FONT STYLE="white-space:nowrap">follow-up</FONT> on overdue amounts, adjusting payment terms to ensure a portion of funds are received sooner, requiring additional collateral, reducing transaction terms
and working closely with impacted counterparties on negotiated solutions. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our credit risk management profile and
practices have not changed materially from Dec. 31, 2023. We had no material counterparty losses in 2024. We continue to keep a close watch on changes and trends in the market and the impact these changes could have on our energy trading business
and hedging activities and will take appropriate actions as required, although no assurance can be given that we will always be successful.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M150</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table outlines our maximum exposure to credit
risk without taking into account collateral held or right of <FONT STYLE="white-space:nowrap">set-</FONT> off, including the distribution of credit ratings, as at Dec. 31, 2024: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="62%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Investment<BR>grade<BR>(per&nbsp;cent)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-investment</FONT><BR>grade<BR>(per&nbsp;cent)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total<BR>(per&nbsp;cent)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total&#8194;<BR>amount&#8194;<BR>($)&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8194;Trade and other receivables<SUP STYLE="font-size:75%; vertical-align:top">(1,2)</SUP></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">87</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>767&#8194;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8194;Long-term finance lease receivables</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>305&#8194;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8194;Risk management assets<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">58</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>411&#8194;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8194;Loan receivable<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>25&#8194;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="13"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" COLSPAN="12" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4">&#8194;Total</FONT></TD>
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0em; text-indent:0em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>1,508&#8194;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Letters of credit and cash and cash equivalents are the primary types of collateral held as
security related to these amounts. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes $25&nbsp;million loan receivable included within other assets with a counterparty that
has no external credit rating. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The maximum credit exposure to any one customer for commodity trading operations,
including the fair value of open trading positions net of any collateral held, is $77&nbsp;million (2023&nbsp;&#8211; $23 million). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Because of our multinational operations, we are subject to currency rate risk, tax, regulatory and political risk. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We have exposure to various currencies as a result of our investments and operations in foreign jurisdictions, the earnings from
those operations, the acquisition of equipment and services and foreign-denominated commodities from foreign suppliers, and our U.S. and Australian dollar-denominated debt. Our exposures are primarily to the U.S. and Australian currencies, and
changes in the values of these currencies relative to the Canadian dollar could negatively impact our operating cash flows or the value of our foreign investments. While we attempt to manage this risk by using hedging instruments, including
cross-currency interest rate swaps, forward exchange contracts and matching revenues and expenses by currency at the corporate level, there can be no assurance that these risk management efforts will be effective, and fluctuations in these exchange
rates may have a material adverse effect on our business.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition to currency rate risk, our foreign operations may be subject to tax,
regulatory and political risk. Any change to the regulations governing power generation or the political climate in the countries where we have operations could impose additional costs and have a material adverse effect on us. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We manage our currency rate risk by establishing and adhering to policies that include: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Hedging our net investments in U.S. operations using U.S. dollar denominated debt;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Entering into forward foreign exchange contracts to hedge future foreign-denominated expenditures
including our U.S. dollar denominated senior debt that is outside the net investment portfolio; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Hedging our expected foreign operating cash flows. Our target is to hedge a minimum of 60&nbsp;per
cent of our forecasted foreign operating cash flows over a four-year period, with a minimum of 90&nbsp;per cent in the current year, 70&nbsp;per cent in the next year, 50&nbsp;per cent in the third year and 30&nbsp;per cent in the fourth year. The
U.S. and Australian exposure, net of debt service and sustaining capital expenditures, is managed with forward foreign exchange contracts.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M151</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The sensitivity of our net earnings to changes in foreign
exchange rates has been prepared using management&#8217;s assessment that an average $0.03 increase or decrease in the U.S. or Australian currencies relative to the Canadian dollar is a reasonable potential change over the next quarter and is shown
below: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="70%"></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8194;Factor</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Increase&nbsp;or<BR>decrease</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Approximate&nbsp;impact&#8194;<BR>on net earnings&#8194;<BR>(millions)&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8194;Exchange rate</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.03</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>$</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>20&#8194;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We are not able to insure against all potential risks and may become subject to higher insurance
premiums. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our business is exposed to the risks inherent in the construction and operation of electricity generation
facilities, such as breakdowns, manufacturing defects, natural disasters, injury, damage to third parties, theft, terrorist attacks, cyberattacks and sabotage. We are also exposed to environmental risks. We maintain insurance policies, covering
usual and customary risks associated with our business, with creditworthy insurance carriers. Our insurance policies, however, may not cover losses, or may be subject to limitations in coverage as a result of force majeure, natural disasters,
terrorist or cyberattacks or sabotage, armed hostilities, or other perils. Our insurance policies may be subject to increase resulting from climate change, for example due to increased storm severity and frequency. In addition, we generally do not
maintain insurance for certain environmental risks, such as environmental contamination. Our insurance policies are subject to annual review by the respective insurers and may not be renewed at all or on similar or favourable terms. A significant
uninsured loss or a loss significantly exceeding the limits of our insurance policies or the failure to renew such insurance policies on similar or favourable terms could have a material adverse effect on our business, financial condition and
results of operations. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our insurance coverage may not be available in the future on commercially reasonable terms or
adequate insurance limits
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
may not be available in the market. In addition, the insurance proceeds received for loss or damage to any of our generation facilities may not be sufficient to permit us to continue to make
payments on our debt. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Provision for income taxes may not be sufficient. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our operations are complex and located in several countries, and the computation of the provision for income taxes involves tax
interpretations, regulations and legislation that are continually changing. In addition, our tax filings are subject to audit by taxation authorities. While we believe that our tax filings have been made in material compliance with all applicable
tax interpretations, regulations and legislation, we cannot guarantee that we will not have disagreements with taxation authorities with respect to our tax filings that could have a material adverse effect on our business. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company and its subsidiaries are subject to changing laws, treaties and regulations in and between countries. Various tax
proposals in the countries we operate in could result in changes to the basis on which deferred taxes are calculated or could result in changes to income or <FONT STYLE="white-space:nowrap">non-</FONT> income tax expense. There has recently been an
increased focus on issues related to the taxation of multinational corporations. A change in tax laws, treaties or regulations, or in the interpretation thereof, could result in a materially higher income or
<FONT STYLE="white-space:nowrap">non-income</FONT> tax expense that could have a material adverse impact on us. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The sensitivity
of changes in income tax rates upon our net earnings is shown below: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="69%"></TD>

<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8194;Factor</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Increase&nbsp;or<BR>decrease<BR>(per cent)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Approximate&nbsp;impact&#8194;<BR>on net earnings&#8194;<BR>(millions)&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8194;Tax rate</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>$</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>3&#8194;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>If we fail to attract and retain key personnel, we could be materially adversely affected.
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The loss of any of our key personnel or our inability to attract, train, retain and motivate additional qualified
management and other personnel could have a material adverse effect on our business. Competition for these personnel is intense and there can be no assurance that we will be successful in this regard. If
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
we are unable to successfully negotiate new collective bargaining agreements with our unionized workforce, as required, we will be adversely affected. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">While we believe we have a satisfactory relationship with our unionized employees, we cannot guarantee that we will be able to
successfully negotiate or renegotiate our collective bargaining agreements on terms agreeable to TransAlta. In
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M152</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">2024 we successfully renegotiated one collective bargaining agreement. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We expect to renegotiate four collective bargaining agreements in 2025. Any hurdles in negotiating these collective bargaining
agreements could lead to higher employee costs and a work stoppage or strike, which could have a material adverse effect on us. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">We manage this risk by: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Possessing a labour relations strategy; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Applying a human-centric approach that emphasizes the employee experience, including actively
improving our workplace culture, focusing on ED&amp;I strategies and offering health and wellness programming and initiatives; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Focusing on employee learning and development; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Monitoring industry compensation and aligning salaries with those benchmarks;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Using incentive pay for <FONT STYLE="white-space:nowrap">non-union</FONT> roles to align employee
goals with corporate goals; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Monitoring and managing target levels of employee turnover; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Ensuring employees have the appropriate training and qualifications to perform their jobs.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>We are subject to risks associated with our ownership interests in projects that are under construction, which
could result in our inability to complete construction projects on time or at all, and make projects too expensive to complete or cause the return on an investment to be less than expected. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta has interests in certain projects that have not yet started operations or are under construction. There may be delays or
unexpected developments in completing any future construction projects, which could cause the construction costs of these projects to exceed our expectations, result in substantial delays or prevent the project from commencing commercial operations.
Various factors could contribute to construction-cost overruns, construction halts or delays or the failure to commence commercial operations, including: delays in obtaining, or the inability to obtain, necessary land rights, permits and licences;
delays and increased costs related to the interconnection of new projects to the transmission system; the inability to acquire or maintain land use and access rights; the failure to receive contracted third-party services; interruptions to dispatch
at the projects; supply chain disruptions, including as a result of changes in international trade laws, regulations, agreements, treaties, taxes, tariffs, duties or policies of Canada, the U.S. or other countries in which the Company&#8217;s
suppliers are located; work stoppages;
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
labour disputes; weather interferences; unforeseen engineering, environmental and geological problems, including, but not limited to, discoveries of contamination, protected plant or animal
species or habitat, archaeological or cultural resources or other environment-related factors; unanticipated cost overruns in excess of budgeted contingencies; and failure of contracting parties to perform under contracts. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition, if we or one of our subsidiaries has an agreement for a third party to complete construction of any project, TransAlta
is subject to the viability and performance of the third party. Our inability to find a replacement contracting party, if the original contracting party has failed to perform, could result in the abandonment of the construction of such project,
while we could remain obligated under other agreements associated with the project, including, but not limited to, offtake PPA&#8217;s. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">We manage project risks by: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Ensuring all projects follow established corporate processes and policies;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Identifying key risks during every stage of project development and ensuring mitigation plans are
factored into capital estimates and contingencies; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Reviewing project plans, key assumptions and returns with senior management prior to Board of
Director approvals; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Consistently applying project management methodologies and processes; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Determining contracting strategies that are consistent with the project scope and scale to ensure
key risks, such as labour and technology, are managed by contractors and equipment suppliers; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Ensuring contracts for construction and major equipment include key terms for performance, delays
and quality backed by appropriate levels of liquidated damages; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Reviewing projects after achieving commercial operation to ensure learnings are incorporated into
the next project; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Negotiating contracts for construction and major equipment to lock in key terms such as price,
availability of long lead equipment, foreign currency rates and warranties as much as is economically feasible before proceeding with the project; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Entering into labour agreements to provide security around labour cost, supply and productivity.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M153</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>New technology and artificial intelligence may present emerging risks that could have a material
adverse effect on the Company. </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We are introducing artificial intelligence and robotics at some of our facilities.
The use of artificial intelligence and robotics at our facilities may not yield materially better results, higher outputs or increased productivity and there is no certainty that we will realize benefits from investments in these technologies.
Additionally, the use of artificial intelligence is subject to the risk that privacy concerns relating to such technology could deter current and potential customers.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>The global energy transition may have an adverse effect on the Company. </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The decarbonization of the global energy system in order to achieve <FONT STYLE="white-space:nowrap">net-zero</FONT> emissions and
minimize a global temperature rise poses several risks to TransAlta&#8217;s business, including but not limited to, changing regulations and policies, market risks from the volatility of and uncertainty of the energy supply and demand, and
operational risks from new technologies. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The sensitivity
of volumes to our net earnings is shown below: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8194;Factor</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Increase&nbsp;or<BR>decrease<BR>(per cent)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Approximate&#8194;<BR>impact&nbsp;on&nbsp;net&#8194;<BR>earnings&#8194;<BR>(millions)&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8194;Availability/production</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>$</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>17&#8194;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Changes in interest rates can impact our borrowing costs and affect our interest rate risk. </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Changes in interest rates can impact our borrowing costs. Changes in our cost of
capital may also affect the feasibility of new growth initiatives. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Dec. 31, 2024, approximately 18&nbsp;per cent
(2023 &#8211; 14 per cent) of our total long-term debt was subject to changes in floating interest rates through a combination of floating rate debt and interest rate swaps.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We manage interest rate risk by establishing and adhering to policies that include:
</FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Employing a combination of fixed and floating rate debt instruments; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Monitoring the mixture of floating and fixed rate debt and adjusting to ensure efficiency; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Opportunistically hedging probable debt issuances and outstanding variable rate borrowings using
interest rate swaps. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The sensitivity
of changes in interest rates upon our net earnings is shown below: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="69%"></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8194;Factor</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Increase&nbsp;or<BR>decrease<BR>(per cent)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Approximate&nbsp;impact&#8194;<BR>on&nbsp;net&nbsp;earnings&#8194;<BR>(millions)&#8194;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#efefef"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8194;Interest rate</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">50&nbsp;bps</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#efefef" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>$</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef" ALIGN="right"><FONT COLOR="#636466"><B>3&#8194;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#efefef"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="98%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M154</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report</FONT></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sbm938159_36"></A>Disclosure Controls and Procedures
</B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Management is responsible for establishing and maintaining adequate internal control
over financial reporting (ICFR) and disclosure controls and procedures (DC&amp;P). For the year ended Dec. 31, 2024, the majority of our workforce supporting and executing our ICFR and DC&amp;P continue to work on a hybrid basis. The Company has
implemented appropriate controls and oversight for both <FONT STYLE="white-space:nowrap">in-office</FONT> and remote work. There has been minimal impact to the design and performance of our internal controls. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">ICFR is a framework designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
the consolidated financial statements for external purposes in accordance with IFRS. Management has used the Internal Control &#8211; Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013
framework) to assess the effectiveness of the Company&#8217;s ICFR. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">DC&amp;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&amp;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></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Together, the ICFR and DC&amp;P frameworks provide internal control over financial reporting and disclosure. In designing and
evaluating our ICFR and DC&amp;P, management recognizes that any controls and procedures, no matter how well designed
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
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></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In accordance with the provisions of NI <FONT STYLE="white-space:nowrap">52-109</FONT> and
consistent with U.S. Securities and Exchange Commission guidance, the scope of the evaluation did not include internal controls over financial reporting of Heartland, which the Company acquired on Dec. 4, 2024. Heartland was excluded from
management&#8217;s evaluation of the effectiveness of the Company&#8217;s internal control over financial reporting as at Dec. 31, 2024, due to the proximity of the acquisition to <FONT STYLE="white-space:nowrap">year-end.</FONT> Further details
related to the acquisition are disclosed in Note 4 to the Company&#8217;s Consolidated Financial Statements for the year ended Dec. 31, 2024. Included in the 2024 Consolidated Financial Statements of TransAlta for Heartland are eight per cent per
cent and 20&nbsp;per cent of the Company&#8217;s total and net assets, respectively, as at Dec. 31, 2024 and one per cent and (5)&nbsp;per cent of the Company&#8217;s revenues and net earnings, respectively, for the year ended Dec. 31, 2024.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Management has evaluated, with the participation of our Chief Executive Officer and Chief Financial Officer, the
effectiveness of our ICFR and DC&amp;P as of the end of the period covered by this MD&amp;A. Based on the foregoing evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that, as at Dec. 31, 2024, the end of the period
covered by this MD&amp;A, our ICFR and DC&amp;P were effective. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f">2024&nbsp;Integrated&nbsp;Report&#8195;&#8195;&#8195;&#8195;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M155</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_19"></A>EXHIBIT&nbsp;&#8220;C&#8221; </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INTERIM UNAUDITED FINANCIAL STATEMENTS AS AT AND FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER&nbsp;30, 2025 AND 2024 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">See attached. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SC-1 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Condensed Consolidated Statements of (Loss) Earnings </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(in millions of Canadian dollars except where noted) </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended<BR>Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended<BR>Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Unaudited</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024&#8201;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues (Note 3)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>615</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">638</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,806</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,167</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power (Note 4)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>227</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">213</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>677</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">690</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance costs (Note 4)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">73</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Gross margin</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>353</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">384</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,119</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,404</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Operations, maintenance and administration (Note 4)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>525</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">421</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>135</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">133</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>431</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">388</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges (Note 5)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Operating income</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">91</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>109</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">579</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Equity (loss) income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fair value change in contingent consideration payable (Note 5)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest expense (Note 6)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(266</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(232</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange gain (loss)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>(Loss) earnings before income taxes</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">370</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Income tax expense (Note 7)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net (loss) earnings</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(54</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">282</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net (loss) earnings attributable to:</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Common shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(49</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(102</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">268</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests (Note
8)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(54</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">282</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net (loss) earnings attributable to TransAlta shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(49</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(102</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">268</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Preferred share dividends (Note 18)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net (loss) earnings attributable to common
shareholders</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(128</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">242</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Weighted average number of common shares outstanding in the period
(</B><B><I>millions</I></B><B>)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>297</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">296</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>297</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">303</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net (loss) earnings per share attributable
to common shareholders, basic and diluted (Note 17)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(0.20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(0.12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(0.43</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><I>See accompanying notes.</I> </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F1&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Condensed Consolidated Statements of Comprehensive (Loss) Income </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(in millions of Canadian dollars) </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="75%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended<BR>Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended<BR>Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Unaudited</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net (loss) earnings</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(54</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">282</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Other comprehensive income (loss)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net actuarial (losses) gains on defined benefit plans, net of tax<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total items that will not be reclassified
subsequently to net (loss) earnings</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gains (losses) on translating net assets of foreign operations, net of
tax</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">(Losses) gains on financial instruments designated as hedges of foreign
operations, net of tax<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gains on derivatives designated as cash flow hedges, net of tax<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">147</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Reclassification of gains on derivatives designated as cash flow hedges to net
(loss) earnings, net of tax<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(41</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total items that will be reclassified subsequently to net (loss)
earnings</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>29</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">72</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">149</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Other comprehensive income (loss)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>29</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(29</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">157</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total comprehensive (loss) income</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(25</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">47</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(147</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">439</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="24" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="24" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="24" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="24" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total comprehensive (loss) income attributable to:</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">TransAlta shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(131</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">425</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests (Note
8)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(25</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">47</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(147</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">439</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net of income tax expense of nil million and $1&nbsp;million for the three and nine months ended
Sept. 30, 2025 (Sept. 30, 2024 &#8212; $1&nbsp;million recovery and $2&nbsp;million expense). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net of income tax recovery of $1&nbsp;million and expense of $1&nbsp;million for the three and
nine months ended Sept. 30, 2025 (Sept. 30, 2024 &#8212; $1&nbsp;million expense and $1&nbsp;million recovery). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net of income tax expense of $8&nbsp;million and $2&nbsp;million for the three and nine months
ended Sept. 30, 2025 (Sept. 30, 2024 &#8212; $22&nbsp;million expense and $38&nbsp;million expense). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net of reclassification of income tax recovery of nil and $10&nbsp;million for the three and nine
months ended Sept. 30, 2025 (Sept. 30, 2024 &#8212; $2&nbsp;million recovery and $1&nbsp;million expense). </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466"><I>See accompanying notes. </I></FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F2</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Condensed Consolidated Statements of Financial Position </B></FONT></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(in millions of Canadian dollars) </FONT></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Unaudited</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept.&nbsp;30,&nbsp;2025&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024&#8199;</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Current assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Cash and cash equivalents</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>211</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&#8199;&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">337</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&#8199;&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Restricted cash (Note 16)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>70</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Trade and other receivables (Note 9)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>768</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">767</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Prepaid expenses and other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Risk management assets (Note 11 and 12)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>159</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">318</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Inventory</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>139</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">134</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Assets held for sale (Note 5 and 14)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,458</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,773</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-current</FONT> assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Investments</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>144</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">159</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Long-term portion of finance lease receivables</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>283</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">305</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Risk management assets (Note 11 and 12)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">93</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Property, plant and equipment (Note 13)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,748</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">6,020</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Right-of-use</FONT></FONT> assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>114</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">120</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Intangible assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>254</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">281</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Goodwill</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>517</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">517</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>47</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Long-term financial assets (Note 10)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>125</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Other assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>164</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">179</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total assets</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8,892</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9,499</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Current liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Bank overdraft</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Accounts payable, accrued liabilities and other current liabilities (Note
9)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>637</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">756</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Current portion of decommissioning and other provisions (Note
15)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>110</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Risk management liabilities (Note 11 and 12)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>150</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">277</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Dividends payable (Note 17 and 18)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Exchangeable securities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>750</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">750</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Contingent consideration payable (Note 5 and 14)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Current portion of credit facilities, long-term debt and lease liabilities
(Note 16)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>169</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">572</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,850</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2,569</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-current</FONT> liabilities</FONT></P></TD>

<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Credit facilities, long-term debt and lease liabilities (Note
16)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,496</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">3,236</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decommissioning and other provisions (Note 15)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>871</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">850</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>423</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">470</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Risk management liabilities (Note 11 and 12)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>441</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">305</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Contract liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Defined benefit obligation and other long-term liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>173</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">202</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7,280</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7,656</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Equity</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Common shares (Note 17)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,169</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">3,179</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Preferred shares (Note 18)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>942</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">942</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Contributed surplus</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Deficit</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2,629</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(2,458</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Accumulated other comprehensive income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Equity attributable to shareholders</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,534</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1,746</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests (Note
8)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">97</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total equity</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,612</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1,843</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total liabilities and
equity</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8,892</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9,499</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Commitments and contingencies (Note 19) </FONT></P>
<P STYLE="margin-top:28pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><I>See accompanying notes. </I></FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F3&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Condensed Consolidated Statements of Changes in Equity </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(in millions of Canadian dollars) </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="48%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Unaudited</B></FONT> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:6pt"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30, 2025</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Common<BR>shares</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Preferred<BR>shares</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Contributed</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>surplus</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Deficit</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Accumulated&nbsp;other<BR>comprehensive<BR>income (loss)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Attributable&nbsp;to<BR>shareholders</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Attributable</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>to non-<BR>controlling<BR>interests</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Balance, Dec. 31, 2024</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3,179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>942</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2,458</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>41</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,746</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,843</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(102</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(102</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Other comprehensive loss:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net gains on translating net assets of foreign operations, net of hedges and
tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net losses on derivatives designated as cash flow hedges, net of
tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(32</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(32</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(32</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net actuarial gains on defined benefits plans, net of tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total comprehensive loss</B></FONT></P></TD>

<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(102</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(29</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(131</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(147</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Common share dividends (Note 17)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Preferred share dividends (Note 18)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Shares purchased under normal course issuer bid (NCIB) (Note
17)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Share-based payment plans and stock options exercised</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Distributions declared to
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests (Note 8)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Balance, Sept. 30,
2025</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,169</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>942</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2,629</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,534</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,612</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Common<BR>shares</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Preferred<BR>shares</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Contributed</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>surplus</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Deficit</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Accumulated other<BR>comprehensive<BR>income (loss)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Attributable to<BR>shareholders</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Attributable</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>to non-<BR>controlling<BR>interests</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Balance, Dec. 31, 2023</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,285</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">942</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(2,567</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(164</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,537</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">127</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,664</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net earnings</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">268</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">268</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">282</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Other comprehensive income:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net gains on translating net assets of foreign operations, net of hedges and
tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net gains on derivatives designated as cash flow hedges, net of
tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">147</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">147</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">147</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net actuarial gains on defined benefits plans, net of tax</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Total comprehensive income</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">268</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">157</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">425</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">439</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Common share dividends (Note 17)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Preferred share dividends (Note 18)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Shares purchased under NCIB (Note 17)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(128</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(114</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(114</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Provision for repurchase of shares under Automatic Securities Purchase Plan
(ASPP) (Note 17)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Share-based payment plans and stock options exercised</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Distributions declared to
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests (Note 8)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Balance, Sept. 30, 2024</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,191</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">942</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2,346</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,814</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">107</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,921</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><I>See accompanying notes. </I></FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F4</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Condensed Consolidated Statements of Cash Flows </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(in millions of Canadian dollars) </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="74%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Sept. 30</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Sept. 30</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Unaudited</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Operating activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net (loss) earnings</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(54</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">282</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>135</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">133</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>431</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">388</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Accretion of provisions (Note 6)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decommissioning and restoration costs settled (Note 15)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(29</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax expense (recovery) (Note 7)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(32</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized loss (gain) from risk management activities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">59</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>199</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(60</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange (gain) loss</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Provisions and contract liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges (Note 5)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Equity loss, net of distributions from investments</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Other <FONT STYLE="white-space:nowrap">non-cash</FONT> items</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Cash flow from operations before changes in working capital</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>147</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">181</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>509</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">640</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Change in <FONT STYLE="white-space:nowrap">non-cash</FONT> operating working
capital balances</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>104</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(94</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(59</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow from operating
activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>251</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">229</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>415</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">581</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Investing activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Additions to property, plant and equipment (Note 13)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(158</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(200</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Additions to intangible assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Restricted cash (Note 16)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Loan advances</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Acquisitions, net of cash acquired</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Increase in Long-term financial assets (Note 10)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(128</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Investments</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Proceeds on sale of property, plant and equipment</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Realized loss on financial instruments</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Development expenditures</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Change in <FONT STYLE="white-space:nowrap">non-cash</FONT> investing working
capital balances</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(25</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow used in investing
activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(101</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(93</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(302</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(198</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Financing activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net decrease in borrowings under credit facilities (Note 16)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(101</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(444</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Repayment of long-term debt (Note 16)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(87</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Issuance of long-term debt (Note 16)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>450</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Dividends paid on common shares (Note 17)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(54</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Dividends paid on preferred shares (Note 18)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Repurchase of common shares under NCIB (Note 17)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(114</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Proceeds on issuance of common shares (Note 17)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Distributions paid to subsidiaries&#8217;
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests (Note 8)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decrease in lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Financing fees and other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Change in <FONT STYLE="white-space:nowrap">non-cash</FONT> financing working
capital balances</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow used in financing
activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(164</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(241</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(335</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow (used in) from operating, investing and financing
activities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(128</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Effect of translation on foreign currency
cash</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>(Decrease) increase in cash and cash equivalents</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(126</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash and cash equivalents, beginning of period</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>222</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">351</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>337</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">348</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="1" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash and cash equivalents, end of
period</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>211</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">401</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>211</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">401</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Cash taxes (received) paid</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">56</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Cash interest paid</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>67</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">54</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>205</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;" ALIGN="right"><FONT COLOR="#636466">187</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="1"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD>
<TD HEIGHT="1" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="1" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Cash interest received</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:1pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><I>See accompanying notes. </I></FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F5&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:30pt; font-family:arial"><FONT COLOR="#171a5f"><B>Notes to the Condensed Consolidated Financial Statements </B></FONT></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>(Unaudited) </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">(Tabular amounts in millions of Canadian dollars, except as otherwise noted) </FONT></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>1. Corporate Information
</B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Description of the Business </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta Corporation (TransAlta or the Company) was incorporated under the Canada
Business Corporations Act in March 1985 and became a public company in December 1992. The Company&#8217;s head office is located in Calgary, Alberta. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>B. Basis of Preparation </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These unaudited interim condensed consolidated financial statements
have been prepared in compliance with International Financial Reporting Standard (IFRS) and International Accounting Standard (IAS) 34 Interim Financial Reporting using the same accounting policies as those used in the Company&#8217;s most recent
audited annual consolidated financial statements. 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.sedarplus.ca and on EDGAR at www.sec.gov. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The unaudited interim condensed consolidated financial statements include the accounts of the Company and the subsidiaries that it
controls. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These unaudited interim condensed consolidated financial statements were authorized
for issue by the Audit, Finance and Risk Committee on behalf of TransAlta&#8217;s Board of Directors (the Board) on Nov. 5, 2025. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Significant Accounting Judgments and Key Sources of Estimation Uncertainty </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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, foreign exchange rates, inflation and commodity prices, and changes in economic conditions, legislation and regulations. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In the process of applying the Company&#8217;s accounting policies, management has to make judgments and estimates about matters
that are highly uncertain at the time the estimates are made and that could significantly affect the amounts recognized in the unaudited interim condensed consolidated financial statements. Different estimates with respect to key variables used in
the calculations, or changes to estimates, could potentially have a material impact on the Company&#8217;s financial position or performance. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">During the nine months ended Sept. 30, 2025, revisions to the fair values of Assets held for sale and Contingent consideration payable were made based on new information obtained during the period. Refer to Note 5. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the three months ended Sept. 30, 2025, for the purposes of the 2025 goodwill impairment review, the Company determined the
recoverable amounts of Hydro, Wind and Solar, Gas and Energy Marketing segments by calculating the fair value less costs of disposal using discounted cash flow
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F6</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">projections. The recoverable amounts are based on the Company&#8217;s long-range
forecasts for the periods extending to the last planned asset retirement in 2086. The resulting fair value measurements are categorized within Level III of the fair value hierarchy. No impairment of goodwill arose for any segment. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During three and nine months ended Sept. 30, 2025, there were no significant changes in estimates, however, significant estimation
uncertainty and judgment is applied in determining
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
the recoverable amount of the Hydro, Wind and Solar, Gas and Energy Marketing segments, due to the sensitivity of the significant assumptions to the future cash flows and the effect that changes
in these assumptions would have on the recoverable amount. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Refer to Note 2(Q)(II) of the Company&#8217;s 2024 audited
annual consolidated financial statements for further details on the significant accounting judgments and key sources of estimation uncertainty.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>2. Accounting Changes
</B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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, 2024. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Future Accounting Changes </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company closely monitors both new accounting standards and amendments to existing accounting standards issued by the International Accounting Standards Board (IASB). The following standards have been issued but are not yet in
effect. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Amendments to IFRS 7 and IFRS 9 &#8212; Nature- Dependent Electricity Contracts </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 18, 2024, the IASB issued amendments to IFRS 9 <I>Financial Instruments </I>and IFRS 7 <I>Financial Instruments: Disclosure
</I>to improve reporting of the financial effects of nature-dependent electricity (e.g., wind and solar) contracts, which are often structured as power purchase agreements. Under these contracts, the amount of electricity generated can vary based on
uncontrollable factors such as weather conditions. The amendments clarify the application of <FONT STYLE="white-space:nowrap">own-use</FONT> requirements, permit hedge accounting if these contracts are used as hedging instruments and add new
disclosure requirements about the effect of these contracts on a company&#8217;s financial performance and cash flows. The amendments are effective for annual reporting periods beginning on or after Jan. 1, 2026. The Company is currently evaluating
the impacts to the financial statements and such impacts cannot be reasonably estimated at this time.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Amendments to IFRS 7 and IFRS 9 &#8212; Classification and Measurement of Financial Instruments
</B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;29, 2024, the IASB issued Amendments to the Classification and Measurement of Financial Instruments
effective Jan. 1, 2026 impacting IFRS 7 and 9. The IASB amended the requirements related to settling financial liabilities using an electronic payment system and assessing contractual cash flow characteristics of financial assets, including those
with <FONT STYLE="white-space:nowrap">ESG-linked</FONT> features. The Company is currently evaluating the impacts to the financial statements and such impacts cannot be reasonably estimated at this time. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>IFRS 18 &#8212; Presentation and Disclosure in Financial Statements </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Apr. 9, 2024, the IASB issued a new standard, IFRS 18 <I>Presentation and Disclosure in Financial Statements</I>, which
introduced new requirements for improved comparability in the statement of profit or loss, enhanced transparency of management-defined performance measures and more useful grouping of information in the financial statements. The standard is
effective for annual reporting periods beginning on or after Jan. 1, 2027. The Company is currently evaluating the impacts to the financial statements and such impacts cannot be reasonably estimated at this time. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Comparative Figures </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Certain comparative figures have been reclassified to conform to the current period&#8217;s presentation. These reclassifications did not impact previously reported net (loss) earnings.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F7&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>3. Revenue </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Disaggregation of Revenue </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The majority of the Company&#8217;s revenues are derived from the sale of power,
capacity and environmental and tax attributes, and from asset optimization activities, which the Company
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
disaggregates into the following groups for the purpose of determining how economic factors affect the recognition of revenue.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="46%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30, 2025</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#171a5f"><B>Corporate<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Power and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>134</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>191</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Environmental and tax attributes<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>58</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>130</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>205</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from derivatives and other trading activities<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>88</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>152</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from merchant sales</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>47</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>102</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>240</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total revenue</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>95</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>326</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>158</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>615</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Timing of revenue recognition</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">At a point in time<B></B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Over time</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>134</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>199</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total revenue from contracts with
customers</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>58</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>130</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>205</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The elimination of intercompany sales is reflected in the Corporate segment.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The environmental and tax attributes represent environmental attributes and production tax
transfer sales not bundled with power and other sales. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Represents realized and unrealized gains or losses from hedging and derivative positions.
Volatility and pricing in commodity markets can vary significantly from period to period and impact movements in derivative positions. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other revenue includes production tax credits related to U.S. wind facilities subject to tax
equity financing arrangements, total lease income from long- term contracts that meet the criteria of operating leases and other miscellaneous revenues. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F8</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="59%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30,
2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Power and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">116</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">165</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Environmental and tax attributes<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">116</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">186</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from derivatives and other trading activities<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(73</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">129</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from merchant sales</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">132</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">312</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total revenue</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">105</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">314</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">165</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">638</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Timing of revenue recognition</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">At a point in time</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Over time</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">116</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">162</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total revenue from contracts with
customers</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">116</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">186</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The environmental and tax attributes represent environmental attributes and production tax
transfer sales not bundled with power and other sales. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Represents realized and unrealized gains or losses from hedging and derivative positions.
Volatility and pricing in commodity markets can vary significantly from period to period and impact movements in derivative positions. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other revenue includes production tax credits related to U.S. wind facilities subject to tax
equity financing arrangements, total lease income from long- term contracts that meet the criteria of operating leases and other miscellaneous revenues. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F9&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="48%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30, 2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Power and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>184</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>494</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>729</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Environmental and tax attributes<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>70</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>83</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(68</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>103</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>267</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>501</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(68</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>821</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from derivatives and other trading activities<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>29</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(171</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>124</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>197</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>93</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>274</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from merchant sales</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>163</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>282</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>178</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">Total revenue</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>310</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>155</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>920</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>385</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>102</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,806</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Timing of revenue recognition</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">At a point in time</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>70</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(68</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>56</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Over time</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>229</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>494</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>765</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">Total revenue from contracts with
customers</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>103</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>267</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>501</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(68</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>821</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The elimination of intercompany sales is reflected in the Corporate segment.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The environmental and tax attributes represent environmental attributes and production tax
transfer sales not bundled with power and other sales. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Represents realized and unrealized gains or losses from hedging and derivative positions.
Volatility and pricing in commodity markets can vary significantly from period to period and impact movements in derivative positions. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other revenue includes production tax credits related to U.S. wind facilities subject to tax
equity financing arrangements, total lease income from long- term contracts that meet the criteria of operating leases and other miscellaneous revenues. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F10</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="49%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Power and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">168</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">554</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Environmental and tax
attributes<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">229</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">642</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from derivatives and other trading activities<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">218</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">226</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">154</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">560</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenue from merchant sales</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">210</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">441</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">225</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">928</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total revenue</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">316</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">239</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,031</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">461</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">154</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2,167</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues from contracts with customers</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Timing of revenue recognition</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">At a point in time</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">97</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Over time</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">168</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">545</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total revenue from contracts with
customers</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">229</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">642</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The elimination of intercompany sales is reflected in the Corporate segment.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The environmental and tax attributes represent environmental attributes and production tax
transfer sales not bundled with power and other sales. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Represents realized and unrealized gains or losses from hedging and derivative positions.
Volatility and pricing in commodity markets can vary significantly from period to period and impact movements in derivative positions. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other revenue includes production tax credits related to U.S. wind facilities subject to tax
equity financing arrangements, total lease income from long- term contracts that meet the criteria of operating leases and other miscellaneous revenues. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F11&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>4. Expenses by Nature </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Fuel, Purchased Power and Operations, Maintenance and Administration (OM&amp;A) </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fuel and purchased power and OM&amp;A expenses classified by nature are as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="36%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:6pt ;"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:6pt ;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#171a5f"><B>Fuel and<BR>purchased</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#171a5f"><B>Fuel and<BR>purchased</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#171a5f"><B>Fuel and<BR>purchased</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#171a5f"><B>Fuel and<BR>purchased</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>power</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>OM&amp;A</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>power</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>OM&amp;A</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>power</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>OM&amp;A</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>power</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>OM&amp;A</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gas fuel costs</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>91</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>321</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">264</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Coal fuel costs</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>96</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">78</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Royalty, land lease, other direct costs</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Purchased power</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>88</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">86</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>238</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">325</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Salaries and benefits</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>81</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">67</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>234</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">201</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other operating expenses</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>98</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">76</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>291</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">220</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>227</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">213</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>677</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>525</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">690</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">421</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>OM&amp;A </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">OM&amp;A expenses for the three and nine months ended Sept. 30, 2025 were
$179&nbsp;million and $525&nbsp;million, respectively (Sept. 30, 2024 &#8212; $143&nbsp;million and $421 million) and included costs to support strategic and growth initiatives, expenses related to operations of the Heartland Generation (Heartland)
facilities and associated corporate costs and spending related to the planning, design and implementation of an upgrade to the Company&#8217;s enterprise resource planning (ERP) system. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Carbon Compliance </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">As at Sept. 30, 2025, the Company holds 443,067 emission credits in inventory that were purchased externally with a recorded book value of $21&nbsp;million (Dec. 31, 2024 &#8212; 460,585 emission credits with a recorded book value
of $18 million). The Company also has 1,555,309 (Dec. 31, 2024 &#8212; 2,109,491) of internally generated eligible emission credits from the Company&#8217;s Wind and Solar and Hydro segments which have no recorded book value.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the nine months ended Sept. 30, 2025, the Company utilized 1,498,447 emission
credits (Sept. 30, 2024 &#8212; 978,894 emissions credits) with a carrying value of $17&nbsp;million (Sept. 30, 2024 &#8212; $22 million), to settle a portion of the 2024 carbon compliance obligation (Sept. 30, 2024 &#8212; 2023 carbon compliance
obligation). During the nine months ended Sept. 30, 2025, $103&nbsp;million was recognized as a reduction in the Company&#8217;s carbon compliance costs (Sept. 30, 2024 &#8212; $42 million). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Emission credits can be sold externally or can be used to offset future emission obligations from our gas facilities located in
Alberta, where the compliance price of carbon is expected to increase, resulting in a reduced cash cost for carbon compliance in the year of settlement. The compliance price of carbon for the 2024 obligation was $80 per tonne rising to $95 per tonne
in 2025. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F12</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>5. Asset Impairment Charges </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company recognized the following asset impairment charges (reversals): </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="57%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Impairment charge, net of impairment reversals related to the Wind and Solar
facilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Changes in decommissioning and restoration provisions on retired assets<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Project development
costs<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Impairment reversal related to the Energy Transition Equipment</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Impairment charge related to the Required
Divestitures</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Asset impairment charges</B></FONT></P></TD>

<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the three and nine months ended Sept. 30, 2025 and 2024, the Company recorded asset
impairment charges driven by changes in discount rates. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the nine months ended Sept. 30, 2025 and Sept. 30, 2024, the Company recognized an
impairment charge in the Corporate segment related to projects that are no longer proceeding. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Wind and Solar
Facilities </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the three and nine months ended Sept. 30, 2025, internal valuations indicated
the carrying values of four wind facilities exceeded their fair value less costs of disposal primarily due to updated production profiles and lower power price assumptions, which unfavourably impacted estimated future cash flows and resulted in an
impairment charge of $37&nbsp;million. The recoverable amount of $363&nbsp;million for these four facilities was estimated based on fair value less costs of disposal using a discounted cash flow model and was categorized as a Level III fair value
measurement. The discount rates used in the fair value measurements were in the range of 5.53 to 7.24&nbsp;per cent. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the three and nine months ended Sept. 30, 2025, the Company recognized impairment reversals for one wind facility and one
solar facility, which had been previously impaired. The impairment reversals of $17&nbsp;million were primarily due to changes in power price assumptions which favourably impacted estimated future cash flows. The recoverable amount of
$233&nbsp;million for these two facilities was estimated based on fair value less costs of disposal using a discounted cash flow model and was categorized as a Level III fair value measurement. The discount rates used in the fair value measurements
were in the range of 6.10 to 7.24&nbsp;per cent. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Energy Transition Equipment Sale </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On March 20, 2025, the Company entered into an agreement
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
to sell generation equipment that had previously been impaired in the Energy Transition segment with closing of the sale expected during the fourth quarter of 2025. During the nine months ended
Sept. 30, 2025, the Company recorded an asset impairment reversal of </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">$31&nbsp;million, for a previously recognized
impairment loss and transferred the respective generation equipment and associated decommissioning liabilities to Assets held for sale and Liabilities held for sale. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Required Divestitures </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">To meet the requirements of the federal Competition Bureau related to the acquisition of Heartland, the Company entered into a consent agreement with the Commissioner of Competition, pursuant to which the Company agreed to divest
Heartland&#8217;s Poplar Hill and Rainbow Lake facilities (the Required Divestitures) following closing of the acquisition on Dec. 4, 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">During the nine months ended Sept. 30, 2025, the Company recognized an impairment loss in the amount of $37&nbsp;million related to the Required Divestitures held for sale in the Gas segment based on updated expectations of the fair
value less costs to sell. A corresponding reduction in the contingent consideration payable was also recognized. The contingent consideration payable as at Sept. 30, 2025 of $15&nbsp;million (Dec. 31, 2024 &#8212; $81 million) was determined based
on expected sale proceeds and net cash flows from operations pertaining to the Required Divestitures up until the date of sale.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F13&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>6. Interest Expense </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The components of interest expense are as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="55%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="8"></TD>
<TD HEIGHT="8" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on debt</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>156</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">148</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on exchangeable debentures<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on exchangeable preferred shares<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Capitalized interest (Note 13)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Credit facility fees, bank charges and other interest</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accretion of provisions (Note
15)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Interest expense</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>266</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">232</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">On May 1, 2019, Brookfield invested $350&nbsp;million in exchange for seven per cent unsecured
subordinated debentures due May 1, 2039. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">On Oct. 30, 2020, Brookfield invested $400&nbsp;million in the Company in exchange for
redeemable, retractable first preferred shares (Series I). The Series I Preferred Shares are accounted for as current debt and the exchangeable preferred share dividends are reported as interest expense. On Oct. 22, 2025, the Company declared a
dividend of $7&nbsp;million in aggregate on the Series I Preferred Shares at the fixed rate of 1.764&nbsp;per cent, per share, payable on Dec. 1, 2025. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>7. Income Taxes </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The components of income tax expense are as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="56%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="8"></TD>
<TD HEIGHT="8" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current income tax (recovery) expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">63</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>57</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">123</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax (recovery) expense related to the origination and reversal
of temporary differences</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(77</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Write-down (reversal) of unrecognized deferred
income tax assets<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">Income tax expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current income tax (recovery) expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">63</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>57</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">123</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deferred income tax expense
(recovery)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(32</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">Income tax expense</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the three and nine months ended Sept. 30, 2025, the Company recorded a $18&nbsp;million
and $39&nbsp;million write-down of deferred tax assets, respectively (Sept. 30, 2024 &#8212; $4&nbsp;million and $26&nbsp;million reversal of write-down, respectively). The deferred income tax assets primarily pertain to the tax benefits arising
from tax losses incurred by the Company&#8217;s directly owned U.S. operations, as well as other deductible differences. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F14</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>8. <FONT STYLE="white-space:nowrap">Non-Controlling</FONT> Interests </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s subsidiaries and operations that have <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests are as
follows: </FONT></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="33%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="28%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Subsidiary/Operation</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Non-controlling&nbsp;interest&nbsp;owner&#8199;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>NCI&nbsp;as&nbsp;at<BR>Sept.&nbsp;30,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>NCI&nbsp;as&nbsp;at<BR>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>NCI&nbsp;as&nbsp;at<BR>Sept.&nbsp;30,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">TransAlta Cogeneration&nbsp;LP</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Canadian Power Holdings Inc.&#8199;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>49.99%</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49.99%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49.99%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Kent Hills Wind LP</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Natural Forces Technologies Inc.&#8199;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17.00%</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">17.00%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">17.00%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta Cogeneration, LP (TA Cogen) operates a portfolio of cogeneration facilities
in Canada and owns 50 per cent of Sheerness, a natural-gas-fired generating facility.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Kent Hills Wind LP, a subsidiary, owns and operates the 167 MW Kent Hills (1, 2 and
3) wind facilities located in New Brunswick. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Summarized
financial information relating to subsidiaries with significant <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests is as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="61%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B>Net</B><B> </B><B>(loss) earnings attributable</B><B> </B><B>to non-
</B><B>controlling</B><B> </B><B>interests</B><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">TransAlta Cogeneration L.P.</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B></B><B>(3)</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B></B><B></B><B></B>2&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B></B><B>(16)</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B></B><B></B><B></B>14&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Kent Hills Wind LP</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2)</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B><B></B>&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5)</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B></B>1&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(16)</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B></B>14&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B>Total comprehensive (loss) income </B><B>attributable to non-controlling
interests</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">TransAlta Cogeneration L.P.</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3)</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B></B>2&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(16)</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B></B>14&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Kent Hills Wind LP</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2)</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B></B>(1)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B><B></B>&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B></B>&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5)</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B></B>1&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(16)</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B></B>14&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B>Distributions</B><B> </B><B>paid</B><B> </B><B>to</B><B>
</B><B>non-controlling interests</B><B></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">TransAlta Cogeneration L.P.</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B><B>&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B><B></B>&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B></B>34&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Kent Hills Wind LP</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B>&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B><B></B>&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B></B>&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B><B></B>&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B></B>10&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B><B></B>&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B></B>34&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>As at</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept.&nbsp;30,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B>Equity attributable to
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">TransAlta Cogeneration L.P.</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(27)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(46)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Kent Hills Wind LP</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(51)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(51)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(78)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(97)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F15&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>9. Trade and Other Receivables and Accounts Payable, Accrued Liabilities and Other Current
Liabilities </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="74%"></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept.&nbsp;30,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Trade accounts receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>601</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">570</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Collateral provided (Note 12)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>88</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">124</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current portion of finance lease receivables</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current portion of loan receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Income taxes receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>49</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">Trade and other receivables</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>768</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">767</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="74%"></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept.&nbsp;30,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accounts payable and accrued liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>568</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">694</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Income taxes payable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">23</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest payable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current portion of contract liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Liabilities held for sale (Note 14)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Collateral held (Note 12)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">Accounts payable, accrued liabilities and other
current liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>637</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">756</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>10. Long-Term Financial Assets </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Nova Clean Energy, LLC </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the nine months ended Sept. 30, 2025, the Company made available a
US$75&nbsp;million term loan and a US$100&nbsp;million revolving facility to Nova Clean Energy, LLC (Nova), a developer of renewable energy projects. As at Sept. 30, 2025, US$26&nbsp;million and US$64&nbsp;million have been drawn from the term loan
and revolving facility, respectively. These facilities are classified as financial assets measured at Fair Value Through Profit and Loss (FVTPL). The outstanding principal under the term loan and the revolving facility bear interest of seven per
cent per annum with interest paid quarterly. The terms of the term loan and the revolving facility are six and
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
five years, respectively, unless accelerated. The term loan is convertible to equity at any time at the option of the Company and any remaining unused term loan commitments at the time of
conversion would be terminated. The term loan and revolving facility are subject to customary financing conditions and covenants that may restrict Nova&#8217;s ability to access funds. This investment in Nova provides the Company with the exclusive
right to purchase Nova&#8217;s late-stage development projects in the western U.S. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F16</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
<DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>11. Financial Instruments </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Financial Assets and Liabilities &#8212; Classification and Measurement </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Financial assets and financial liabilities are measured on an ongoing basis at cost, fair value or amortized cost. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Fair Value of Financial Instruments </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>I. Level I, II and III Fair Value Measurements </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Level I, II and III classifications in the
fair value hierarchy used by the Company are defined below. The fair value measurement of a financial instrument is included in only one of the three levels, the determination of which is based on the lowest level input that is significant to the
derivation of the fair value. The Level III classification is the lowest level classification in the fair value hierarchy. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>a. Level
I </B></FONT></P> <P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>b. Level II </B></FONT></P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fair values are determined, directly or indirectly, using inputs that are observable for the asset or liability. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company&#8217;s commodity risk management Level II financial instruments include <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT> 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></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In determining Level II fair values of other risk management assets
and liabilities, the Company uses observable inputs
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
other than unadjusted quoted prices that are observable for the asset or liability, such as interest rate yield curves and currency rates. For certain financial instruments where insufficient
trading volume or lack of recent trades exists, the Company relies on similar interest or currency rate inputs and other third-party information such as credit spreads. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>c. Level III </B></FONT></P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fair values are determined using inputs for the assets or liabilities that are not readily observable. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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 <FONT STYLE="white-space:nowrap">re-assessing</FONT> 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></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other than the long-term financial assets discussed in Section IV below, 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. Refer to Note 14 of the 2024 audited annual consolidated financial statements for further details. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Commodity Risk Management Assets and Liabilities </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Commodity risk management assets and liabilities include risk management assets and liabilities that are used in the energy
marketing and generation segments in relation to trading activities and certain contracting activities. To the extent applicable, changes in net risk management assets and liabilities for <FONT STYLE="white-space:nowrap">non-hedge</FONT> positions
are reflected within earnings of these businesses. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Commodity risk management assets and liabilities classified by fair
value levels as at Sept. 30, 2025, are as follows: Level I &#8212; $5&nbsp;million net asset (Dec. 31, 2024 &#8212; $12&nbsp;million net liability), Level II &#8212; $32&nbsp;million net liability (Dec. 31, 2024 &#8212; $2&nbsp;million net
liability) and Level III &#8212; $375&nbsp;million net liability (Dec. 31, 2024 &#8212; $153&nbsp;million net liability). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Significant changes in commodity net risk management assets (liabilities) during the nine months ended Sept. 30, 2025, are primarily
attributable to volatility in market prices across multiple markets on both existing contracts and new contracts and contract settlements.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F17&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table summarizes the key factors impacting the fair value of the
Level III commodity risk management assets and liabilities by classification during the nine months ended Sept. 30, 2025 and 2024, respectively: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="54%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30,<BR>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30,<BR>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Hedge</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Non-hedge</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Hedge</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Non-hedge</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Opening balance</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(153)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(153)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(147)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(147)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Changes attributable to:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.20em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Market price changes on existing contracts</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(184)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(184)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(21)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(21)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.20em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Market price changes on new contracts</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.20em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contracts settled</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(46)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(46)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">24&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">24&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.20em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign exchange rates</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(6)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(6)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #636466;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #636466;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #636466;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #636466;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #636466;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #636466;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #636466;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net risk management liabilities at end of
period</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(375)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(375)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(142)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(142)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Additional Level III information:</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total losses included in earnings before income taxes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(176)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(176)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(19)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(19)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Unrealized (losses) gains included in earnings
before income taxes relating to net liabilities held at period end</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(222)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(222)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Sept. 30, 2025, the total Level III risk management asset balance was
$56&nbsp;million (Dec. 31, 2024 &#8211; $110 million) and the Level III risk management liability balance was $431&nbsp;million (Dec. 31, 2024 &#8211; $263 million). The net risk management liabilities increased mainly due to unfavourable market
price changes and settled contracts. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The information on risk management contracts or groups of risk management contracts
that are included in Level III measurements and the related unobservable inputs and sensitivities are outlined in the following table. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">These include the effects on fair value of discounting, liquidity and credit value adjustments; however, the potential offsetting effects of Level II positions are not considered. Sensitivity ranges for the base fair values are
determined using
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
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></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Included in the Level III classification are several long-term wind energy sales
agreements, including contracts for differences and virtual power purchase agreements, that are recognized as derivatives for accounting purposes. The sensitivity reflects the potential impacts on the fair value of these long-term wind agreements.
These long- term wind energy sales are backed by physical assets to effectively reduce our market risk. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F18</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="16%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="21%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="29%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="15%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>As at</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept. 30, 2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Description</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Valuation</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>technique</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Unobservable&nbsp;input</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Reasonably&nbsp;possible<BR>change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Potential&nbsp;change<BR>in fair value<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Long-term wind energy sale &#8212; Eastern U.S.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Long-term price forecast</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Illiquid future power prices (per MWh)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Illiquid future REC<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP>
prices (per unit)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind discounts</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Price decrease or increase of US$6</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Price decrease of US$4 or increase of US$17</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">0% decrease or 5% increase</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>+26 / <FONT STYLE="white-space:nowrap">-44</FONT></B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Long-term wind energy sale &#8212; Canada</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Long-term price forecast</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Illiquid future power prices (per MWh)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind discounts</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Price decrease of $32 or increase of $10</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">5% decrease or 5% increase</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>+68 / <FONT STYLE="white-space:nowrap">-20</FONT></B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Long-term wind energy sale &#8212; Central U.S.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Long-term price forecast</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Illiquid future power prices (per MWh)</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind discounts</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Price decrease of US$11 or increase of US$3</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">2% decrease or 5% increase</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>+78 / <FONT STYLE="white-space:nowrap">-48</FONT></B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Potential change in fair value represents the total increase or decrease in recognized fair value
that could arise from the use of the reasonably possible changes of all unobservable inputs. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Renewable energy credits. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="16%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="21%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="29%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="15%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>As at</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Description</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Valuation<BR>technique</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Unobservable input</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Reasonably possible<BR>change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Potential&nbsp;change<BR>in fair value<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Long-term wind energy sale &#8212; Eastern U.S.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="font-size:16pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT
 COLOR="#636466">Long-term price forecast</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Illiquid future power</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">prices (per MWh)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Illiquid future REC<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">prices (per unit)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind discounts</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Price decrease or increase of US$6</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Price decrease of US$12 or increase of US$8</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">0% decrease or 6% increase</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="padding-bottom:12pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">+42 / <FONT STYLE="white-space:nowrap">-30</FONT></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Long-term wind energy sale &#8212; Canada</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Long-term price forecast</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Illiquid future power</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">prices (per MWh)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind discounts</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Price decrease of $57 or increase of $10</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">15% decrease or 5% increase</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">+53 / <FONT STYLE="white-space:nowrap">-17</FONT></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Long-term wind energy sale &#8212; Central U.S.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Long-term price forecast</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Illiquid future power</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">prices (per MWh)</FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind discounts</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Price decrease of US$4 or increase of US$3</FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466">2% decrease or 2% increase</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">+84 / <FONT STYLE="white-space:nowrap">-77</FONT></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Potential change in fair value represents the total increase or decrease in recognized fair value
that would arise from the use of the reasonably possible changes of all unobservable inputs. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Renewable energy credits. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F19&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>a. Long-Term Wind Energy Sale &#8211; Eastern U.S. </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is party to a long-term contract for differences (CFD) for the offtake of 100&nbsp;per cent of the generation from its
90 MW Big Level wind facility. The CFD, together with the sale of electricity generated into the PJM Interconnection at the prevailing real-time energy market price, achieve the fixed contract price per MWh on proxy generation. Under the CFD, if the
market price is lower than the fixed contract price, the customer pays the Company the difference and if the market price is higher than the fixed contract price, the Company refunds the difference to the customer. The customer is also entitled to
the physical delivery of environmental attributes. The contract expires in December 2034. The contract is accounted for as a derivative with changes in fair value presented in revenue. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>b. Long-Term Wind Energy Sale &#8211; Canada </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In Alberta, the Company is party to two Virtual Power Purchase Agreements (VPPAs) for the offtake of 100&nbsp;per cent of the
generation from its 130 MW Garden Plain wind facility. The VPPAs, together with the sale of electricity generated into the Alberta power market at the pool price, achieve the fixed contract prices per MWh. Under the VPPAs, if the pool price is lower
than the fixed contract price, the customers pay the Company the difference and if the pool price is higher than the fixed contract price, the Company refunds the difference to the customers. Customers are also entitled to the physical delivery of
environmental attributes. Both VPPAs commenced on commercial operation of the facility in August 2023 and extend until the third quarter of 2041 and the third quarter of 2035, respectively. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The energy components of these contracts are accounted for as derivatives, with changes in fair value presented in revenue.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>c. Long-Term Wind Energy Sale &#8211; Central U.S. </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is party to two long-term VPPAs for the offtake of 100&nbsp;per cent of the generation from its 302 MW White Rock East
and White Rock West wind power facilities. The VPPAs, together with the sale of electricity generated into the U.S. Southwest Power Pool (SPP) market at the relevant price
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
nodes, achieve the fixed contract prices per MWh. Under the VPPAs, if the SPP pricing is lower than the fixed contract price the customer pays the Company the difference, and if the SPP pricing
is higher than the fixed contract price, the Company refunds the difference to the customer. The customer is also entitled to the physical delivery of environmental attributes. The VPPAs commenced on commercial operation of the facilities in the
second quarter of 2024 and extend until the second quarter of 2039 and the fourth quarter of 2038, respectively. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Company is also party to a VPPA for the offtake of 100&nbsp;per cent of the generation from its 202 MW Horizon Hill wind power facility. The VPPA, together with the sale of electricity generated into the SPP market at the relevant price node,
achieve the fixed contract price per MWh. Under the VPPA, if the SPP pricing is lower than the fixed contract price, the customer pays the Company the difference and if the SPP pricing is higher than the fixed contract price, the Company refunds the
difference to the customer. The customer is also entitled to the physical delivery of environmental attributes. The VPPA commenced on commercial operation of the facility in the second quarter of 2024 and extends until the second quarter of 2044.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The energy components of these contracts are accounted for as derivatives, with changes in fair value presented in
revenue. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>III. Other Risk Management Assets and Liabilities </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other risk management assets and liabilities primarily include risk management assets and liabilities that are used to manage
exposures on <FONT STYLE="white-space:nowrap">non-energy</FONT> marketing transactions such as interest rates, the net investment in foreign operations and other foreign currency risks. Hedge accounting is not always applied. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other risk management assets and liabilities with a total net asset fair value of $8&nbsp;million as at Sept. 30, 2025 (Dec. 31,
2024 &#8212; $4&nbsp;million net liability) are classified as Level II fair value measurements. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F20</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>IV. Other Financial Assets and Liabilities </B></FONT></P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="70%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Fair value<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Total<BR>carrying</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT
 COLOR="#171a5f"><B>value<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" ROWSPAN="2" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Level&nbsp;II</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Level&nbsp;III</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Exchangeable securities &#8212; Sept. 30, 2025</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>752</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>&#8212;</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>752</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>750</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term debt &#8212; Sept. 30, 2025</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,358</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>&#8212;</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>3,358</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>3,517</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term financial assets &#8212; Sept. 30, 2025<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>125</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>125</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>125</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Loan receivable &#8212; Sept. 30, 2025<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>29</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>&#8212;</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>29</B><B></B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B></B><B>29</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B><B></B>&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Exchangeable securities &#8212; Dec. 31, 2024</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">739</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">739</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">750</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term debt &#8212; Dec. 31, 2024</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,447</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,447</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,657</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Loan receivable &#8212; Dec. 31, 2024<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes current portion. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Refer to Note 10 for further details. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Included within Other assets. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the nine months ended Sept. 30, 2025, the Company made available a
US$75&nbsp;million term loan, which is convertible to equity at any time, and a US$100&nbsp;million revolving facility (collectively, the Nova facilities) to Nova. Refer to Note 10 for more details. The Nova facilities are classified as financial
assets measured at FVTPL. The fair value of the Nova facilities are categorized as Level III in the fair value hierarchy as their fair value is determined using a binomial model with multiple inputs such as volatility and share price for which
observable market data is not available. The Nova facilities are valued at the exchange amount, which represents the amounts drawn. There have been no material movements in the fair value to the end of the reporting period. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The fair values of the Company&#8217;s debentures, senior notes and exchangeable securities are determined using prices observed
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
in secondary markets. <FONT STYLE="white-space:nowrap">Non-recourse</FONT> and other long-term debt fair values are determined by calculating an implied price based on a current assessment of the
yield to maturity. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The carrying amount of other short-term financial assets and liabilities (cash and cash equivalents,
restricted cash, trade accounts receivable, collateral provided, bank overdraft, accounts payable and accrued liabilities, collateral held and dividends payable) approximates fair value due to the liquid nature of the asset or liability. The fair
values of the long-term financial assets and finance lease receivables approximate the carrying amounts as the amounts receivable represent cash flows from repayments of principal and interest.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F21&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Inception Gains and Losses </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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 transaction price) and the amount calculated through a valuation model. This unrealized
gain or loss at inception is recognized in net (loss) earnings only if the fair value of the instrument is evidenced by a quoted market price
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
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 (loss) earnings over the term of the related contract. Effective Jan. 1, 2025, the difference is
calibrated at initial recognition and no inception gains or losses are recognized. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The difference
between the transaction price and the fair value determined using a valuation model, yet to be recognized in net (loss) earnings and a reconciliation of changes is as follows: </FONT></P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2025&#8201;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;2024&#8201;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Unamortized net gain at beginning of period</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">New inception gains</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">18&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change resulting from amended contract</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign exchange rates</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Amortization recorded in net (loss) earnings
during the period</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(25)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(13)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Unamortized net (loss) gain at end of
period</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(13)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F22</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>12. Risk Management Activities </B></FONT></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Risk Management Strategy </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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 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
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
strategy, policies and controls are designed to ensure that the risks it assumes comply with the Company&#8217;s internal objectives and risk tolerance. Refer to Note 15 of the 2024 audited
annual consolidated financial statements for further details of the Company&#8217;s risk management activities. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Net Risk Management
Assets and Liabilities </B></FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Aggregate net risk management assets (liabilities) are as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>As at Sept. 30, 2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Cash&nbsp;flow<BR>hedges</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Not&#8201;</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>designated&#8201;</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>as&nbsp;a&nbsp;hedge&#8201;</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total&#8201;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Commodity risk management</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(409)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(409)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net commodity risk management
liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(412)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(402)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Other</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net other risk management
assets</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>8&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>8&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total net risk management assets
(liabilities)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(404)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(394)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>As at Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Cash&nbsp;flow<BR>hedges</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Not&#8201;</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT
 COLOR="#171a5f"><B>designated&#8201;</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>as&nbsp;a&nbsp;hedge&#8201;</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total&#8201;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Commodity risk management</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">45</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">53&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(220)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(220)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net commodity risk management assets
(liabilities)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">45</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(212)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(167)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(12)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(12)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net other risk management
liabilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(4)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(4)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total net risk management assets
(liabilities)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">45</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(216)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(171)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F23&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Nature and Extent of Risks Arising </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>from Financial Instruments </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Market Risk </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>i. Commodity Price Risk &#8211; Proprietary Trading </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A value at risk (VaR) measure gives, for a specific confidence
level, an estimated maximum <FONT STYLE="white-space:nowrap">pre-tax</FONT> loss that could be incurred over a specified period of time. VaR is used to determine the potential change in value of the Company&#8217;s proprietary trading portfolio,
over a <FONT STYLE="white-space:nowrap">three-day</FONT> period within a 95&nbsp;per cent confidence level, resulting from normal market fluctuations. Changes in market prices associated with proprietary trading activities affect net (loss) earnings
in the period that the price changes occur. VaR at Sept. 30, 2025, associated with the Company&#8217;s proprietary trading activities was $1&nbsp;million (Dec. 31, 2024 &#8212; $3 million). </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>ii. Commodity Price Risk &#8211; Generation </B></FONT></P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The generation segments utilize various commodity contracts to manage the commodity price risk associated with electricity
generation, fuel purchases, emissions and byproducts, as considered appropriate. A Commodity Exposure Management Policy is prepared and approved annually, which outlines the intended hedging strategies associated with the Company&#8217;s generation
assets and related commodity price risks. Controls also include restrictions on authorized instruments,
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
management reviews on individual portfolios and approval of asset transactions that could add potential volatility to the Company&#8217;s reported net (loss) earnings. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">VaR at Sept. 30, 2025, associated with the Company&#8217;s commodity derivative instruments used in generation hedging activities
was $2&nbsp;million (Dec. 31, 2024 &#8212; $8 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 (loss) earnings in the period in which the price change occurs. VaR at Sept. 30, 2025, associated with these
transactions was $8&nbsp;million (Dec. 31, 2024 &#8212; $13 million). For the market risk related to long-term power sale and long-term wind energy sales contracts, refer to the Level III measurements table and the related unobservable inputs and
sensitivities in Note 11(B)(II). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Credit Risk </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company uses external credit ratings, as well as internal ratings in circumstances where external ratings are not available, to
establish credit limits for customers and counterparties. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table outlines the Company&#8217;s maximum exposure to credit risk without taking into account collateral held, including the distribution of credit ratings, as at Sept. 30, 2025: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="46%"></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Investment&nbsp;grade</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>(per cent)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-investment&nbsp;grade</FONT></B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>(per cent)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Total</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>(per&nbsp;cent)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total<BR>amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Trade and other
receivables<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">85</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>768</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>283</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Risk management
assets<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>197</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term financial
assets<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>125</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Loans
receivable<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>29</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,402</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Letters of credit and cash and cash equivalents are the primary types of collateral held as
security related to these amounts. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Included within long-term financial assets with counterparties that have no external credit
rating. Refer to Note 10 for further details. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes $29&nbsp;million loans receivable included within other assets with counterparties that
have no external credit rating. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F24</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company did not have material expected credit losses as at Sept. 30, 2025. The
Company&#8217;s maximum exposure to credit risk at Sept. 30, 2025, without taking into account collateral held or right of <FONT STYLE="white-space:nowrap">set-off,</FONT> is represented by the current carrying amounts of receivables, risk
management assets, loans receivable and long-term financial assets as per the condensed consolidated statements of financial position. Letters of credit, cash, </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>III. Liquidity Risk </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company has sufficient existing liquidity available to meet its upcoming debt maturities. The next major debt repayment is scheduled for the fourth quarter of 2029. Our highly diversified asset portfolio, by both fuel type and
operating region, and our long-term contracted asset base provide stability in our cash flows.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">and first priority liens on assets are the primary types of collateral held as
security related to these amounts. The maximum credit exposure to any one customer for commodity trading operations and hedging, including the fair value of open trading, net of any collateral held, at Sept. 30, 2025, was $50&nbsp;million (Dec. 31,
2024 &#8212; $77 million). </FONT></P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A maturity
analysis of the Company&#8217;s financial liabilities is as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="57%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2026</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2027</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2028</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2029</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2030 and<BR>thereafter&#8201;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accounts payable, accrued liabilities and other current
liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">637</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">637</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Credit facilities and long-term debt<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">169</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">329</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">164</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">909</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,936&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,553</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Exchangeable
securities<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">750&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">750</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Commodity risk management (assets) liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">363&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">402</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other risk management
assets<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(7)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Lease liabilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">126&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">148</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on credit facilities, long-term debt and lease liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">56</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">205</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">197</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">178</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">161</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">704&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,501</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on exchangeable securities<SUP
STYLE="font-size:75%; vertical-align:top">(2)(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">184</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dividends payable</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>756</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>437</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>597</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>418</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,106</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,872&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>7,186</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Excludes impact of hedge accounting and derivatives. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The exchangeable debentures are due May&nbsp;1, 2039 and the exchangeable preferred shares are
perpetual. However, a cash payment could occur after Dec. 31, 2028, at the Company&#8217;s option, if the exchangeable securities are not exchanged by Brookfield Renewable Partners or its affiliates (collectively, Brookfield). At Brookfield&#8217;s
option, the exchangeable securities are currently exchangeable into an equity ownership interest in TransAlta&#8217;s Alberta hydro assets. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Negative amount represents a receivable position or cash inflow. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Not recognized as a financial liability on the condensed consolidated statements of financial
position and excludes the impact of interest rate swaps. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F25&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>D. Collateral </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Financial Assets Provided as Collateral </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Sept. 30, 2025, the Company provided $88&nbsp;million (Dec. 31, 2024 &#8212; $124 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 within trade and other receivables in the condensed
consolidated statements of financial position. At Sept. 30, 2025, the Company provided $20&nbsp;million (Dec. 31, 2024 &#8212; $21 million) in surety bonds as security for commodity trading activities. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>II. Financial Assets Held as Collateral </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Sept. 30, 2025, the Company held $305&nbsp;thousand (Dec. 31, 2024 &#8212; $9 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.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
Collateral held is related to physical and financial derivative transactions in a net asset position and is included in accounts payable and accrued liabilities in the condensed consolidated
statements of financial position. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>III. Contingent Features in Derivative Instruments </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Sept. 30, 2025, the Company had posted collateral of $338&nbsp;million (Dec. 31, 2024 &#8212; $424 million) in the form of
letters of credit on physical and financial derivative transactions in a net liability position. Certain derivative agreements contain credit-risk-contingent features, which if triggered could result in the Company having to post an additional
$108&nbsp;million (Dec. 31, 2024 &#8212; $128 million) of collateral to its counterparties. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>13. Property, Plant and
Equipment </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the three and nine months ended Sept. 30, 2025, the Company had additions to
property, plant, and equipment (PP&amp;E) of $53&nbsp;million and $158&nbsp;million, respectively, mainly related to major maintenance for our Canadian facilities in the Gas segment due to timing of spend, the addition of maintenance for the gas
facilities acquired from Heartland and spend to support dam safety at Hydro facilities in Alberta. Additions also included a network upgrade project in Australia and major maintenance in the Wind and Solar segment. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the three and nine months ended Sept. 30, 2024, the Company had additions to PP&amp;E of $74&nbsp;million and
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
$200&nbsp;million, respectively, mainly related to assets under construction for the White Rock and the Horizon Hill wind projects, which were commissioned in the first and second quarters of
2024, and planned major maintenance. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the three and nine months ended Sept. 30, 2025, the Company did not
capitalize any interest to PP&amp;E. During the three and nine months ended Sept. 30, 2024, the Company capitalized interest of nil and $16&nbsp;million, respectively, to PP&amp;E at a weighted average rate of 6.5&nbsp;per cent.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F26</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>14. Assets and Liabilities Held for Sale </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Aug. 1, 2025, the Company completed the sale of its 100&nbsp;per cent interest in
the 48 MW Poplar Hill facility and the assets and liabilities were removed from Assets and Liabilities Held for Sale. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Subsequent to quarter end, on Oct. 2, 2025, the Company completed the sale of its 50&nbsp;per cent interest in the 97 MW Rainbow
Lake facility. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Both divestitures were required by the consent agreement entered into with the
federal Competition Bureau as part of its regulatory approval for the Company&#8217;s acquisition of Heartland. Energy Capital Partners is entitled to receive the proceeds from the sale of both facilities, net of certain adjustments, following
completion of the divestitures. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>15. Decommissioning and
Other Provisions </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The change in decommissioning and other provision balances is as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="59%"></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Decommissioning&nbsp;and</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>restoration</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Other&nbsp;provisions</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Balance, Dec. 31, 2024</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">848</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">85</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">933</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Liabilities incurred</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Liabilities settled</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(47</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accretion (Note 6)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Transfer to liabilities held for sale</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revisions in estimated cash flows</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revisions in discount rates</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>54</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in foreign exchange
rates</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">Balance, Sept. 30, 2025</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>884</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>981</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:1%; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Included in the condensed consolidated statements of financial position as:
</FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="76%"></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>As at</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept.&nbsp;30,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current portion</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>110</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-current</FONT> portion</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>871</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">850</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">Total decommissioning and other
provisions</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>981</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">933</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Decommissioning and Restoration </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the nine months ended Sept. 30, 2025, revisions in discount rates increased the decommissioning and restoration provision by
$53&nbsp;million due to lower discount rates, largely driven by decreases in long-term market benchmark rates. On average, discount rates decreased compared to 2024, with rates ranging from 4.6 to 7.6&nbsp;per cent as at Sept. 30, 2025. This has
resulted in a corresponding increase in PP&amp;E of $31&nbsp;million on operating assets and the recognition of $22&nbsp;million of impairment charges in net (loss) earnings related to retired assets. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the nine months ended Sept. 30, 2025, the decommissioning and restoration provision decreased by $10&nbsp;million primarily
due to revisions in estimated cash flows
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
for certain Hydro assets. Operating assets included in PP&amp;E decreased by $10&nbsp;million with no impact on retired assets. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Other Provisions </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Other provisions include provisions arising from ongoing business activities, amounts related to commercial disputes between the Company and customers or suppliers and onerous contract provisions. Information about the expected
timing of settlement and uncertainties that could impact the amount or timing of settlement has not been provided as this may impact the Company&#8217;s ability to settle the provisions in the most favourable manner.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F27&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>16. Credit Facilities, Long-Term Debt and Lease Liabilities </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Amounts Outstanding </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company&#8217;s credit facilities are summarized in the table below: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="57%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>As at Sept. 30, 2025</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Utilized</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Credit facilities</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Facility<BR>size</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Outstanding<BR>letters of<BR>credit<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Cash<BR>drawings</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Available<BR>capacity</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Maturity<BR>date</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">Committed</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Syndicated credit facility</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,900</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">392</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,406</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q2&nbsp;2029</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Bilateral credit facilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">240</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">152</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q2&nbsp;2027</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Heartland credit facilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">256</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">204</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q4 2027</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Heartland EDC letter of credit
facility</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">Q4 2025</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total committed</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,426</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>566</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>306</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,554</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B><FONT STYLE="white-space:nowrap">Non-committed</FONT></B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Demand facilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">212</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">188</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">N/A</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total
<FONT STYLE="white-space:nowrap">Non-committed</FONT></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>400</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>212</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>188</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">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. Letters of credit drawn
against the <FONT STYLE="white-space:nowrap">non-committed</FONT> facilities reduce the available capacity under the committed syndicated credit facilities. At Sept. 30, 2025, TransAlta had provided cash collateral of $93&nbsp;million.
</FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the third quarter of 2025, the size of the Syndicated credit facility was
reduced from $1.95&nbsp;billion to $1.9&nbsp;billion and the maturity was extended by one year to June&nbsp;30, 2029. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the third quarter of 2025, the maturity of the Bilateral credit facilities in the aggregate amount of $240&nbsp;million was
extended by one year to June&nbsp;30, 2027. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Credit facilities are the primary source of short-term liquidity after
internally generated cash flow. The Company is in compliance with the terms of its credit facilities and all undrawn amounts are fully available.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Letters of credit in the amount of $212&nbsp;million were issued from <FONT
STYLE="white-space:nowrap">non-committed</FONT> demand facilities which are fully backstopped, thereby reducing the available capacity on the committed credit facilities. In addition to the net $1.3&nbsp;billion of committed capacity available under
the credit facilities, the Company had $211&nbsp;million of available cash and cash equivalents as at Sept. 30, 2025. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta&#8217;s debt has terms and conditions, including financial covenants, that are considered ordinary and customary. As at
Sept. 30, 2025, the Company was in compliance with all of its debt covenants. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F28</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Senior Notes Offering </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On March&nbsp;24, 2025, the Company issued $450&nbsp;million of senior notes with a
fixed annual coupon of 5.625&nbsp;per cent, maturing on March&nbsp;24, 2032. The notes are unsecured and rank equally in right of payment with all existing and future senior indebtedness and senior in right of payment to all future subordinated
indebtedness. Interest payments on the notes are made semi-annually, on March&nbsp;24 and Sept. 24, with the first payment having been made on Sept. 24, 2025. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Term Loan Facility Early Repayment </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On March 25, 2025, the Company repaid its $400&nbsp;million variable rate term loan facility in advance of the scheduled maturity
date of Sept. 7, 2025, with the proceeds received from the $450&nbsp;million senior notes offering. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>D. Heartland Credit Facilities
</B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As part of the Heartland acquisition on Dec. 4, 2024, the Company assumed a term facility and revolving facility
with a syndicate of banks. As at Sept. 30, 2025 the drawn term facility was $204&nbsp;million. Scheduled repayments totalling $20&nbsp;million made under the term facility during the nine months ended Sept. 30, 2025 have resulted in a corresponding
reduction in the borrowing capacity of the facility. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>E. Restrictions Related to
<FONT STYLE="white-space:nowrap">Non-Recourse</FONT> Debt and Other Debt </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Melancthon Wolfe Wind LP, Pingston
Power Inc., TAPC Holdings LP, New Richmond Wind LP, Kent Hills Wind LP, TEC Hedland Pty Ltd. and Windrise Wind LP <FONT STYLE="white-space:nowrap">non-</FONT> recourse bonds, the TransAlta OCP LP bond, and Heartland credit facilities, with a total
carrying value of $1.7&nbsp;billion as at Sept. 30, 2025 (Dec. 31, 2024 &#8212; $1.8 billion), 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 can 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 third quarter of 2025, with the exception of Windrise Wind LP. The funds in the entities will remain there until the next debt service coverage ratio can be performed in
the fourth quarter of 2025. At Sept. 30, 2025, $70&nbsp;million (Dec. 31, 2024 &#8212; $117 million) of cash was subject to these financial restrictions.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Sept. 30, 2025, $6&nbsp;million (AU$6 million) of funds held by TEC Hedland Pty
Ltd. cannot be accessed by other corporate entities, as the funds must be solely used by the project entities, for the purpose of paying major maintenance costs. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Additionally, certain <FONT STYLE="white-space:nowrap">non-recourse</FONT> bonds require that certain reserve accounts be
established and funded through cash held on deposit and/or by providing letters of credit. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>F. Restricted Cash </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Sept. 30, 2025, the Company had $17 millon (Dec. 31, 2024 &#8212; $17 million) of restricted cash related to the TransAlta
OCP bonds, which is required to be held in a debt service reserve account in the third and fourth quarters of the year to fund scheduled future debt repayments. As at Sept. 30, 2025, the Company also had $52&nbsp;million (Dec. 31, 2024 &#8212; $52
million) of restricted cash related to the TEC Hedland Pty Ltd bond. These cash reserves are required to be held under commercial arrangements and for debt service, which may be replaced by letters of credit in the future. Finally, the Company also
had $1&nbsp;million (Dec. 31, 2024 &#8212; nil) of restricted cash related to deposits received for assets held for sale. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>G.
Currency Impacts </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The weakening of the U.S. dollar has decreased the U.S. dollar denominated long-term debt
balances, mainly the senior notes and tax equity financings, by $33&nbsp;million as at Sept. 30, 2025 (Sept. 30, 2024 &#8212; increased $20&nbsp;million due to the strengthening of the U.S. dollar). Almost all of the U.S. dollar denominated debt is
hedged either through financial contracts or net investments in U.S. operations. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Additionally, the strengthening of the
Australian dollar has increased the Australian dollar-denominated <FONT STYLE="white-space:nowrap">non-recourse</FONT> senior secured notes balance by approximately $11&nbsp;million as at Sept. 30, 2025 (Sept. 30, 2024 &#8212; increased
$16&nbsp;million due to strengthening of the Australian dollar). As this debt is issued by an Australian subsidiary, the foreign currency translation impacts are recognized within other comprehensive (loss) income.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F29&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>17. Common Shares </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>A. Issued and Outstanding </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta is authorized to issue an unlimited number of voting common shares without nominal or par value. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="64%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="8"></TD>
<TD HEIGHT="8" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT STYLE="font-size:9pt" COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT STYLE="font-size:9pt" COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Common<BR>shares<BR>(millions)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Common<BR>shares<BR>(millions)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Issued and outstanding, beginning of period</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>297.5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">306.9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,285</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Reversal of provision for repurchase of common shares under</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Automatic Securities Purchase Plan</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1.7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Purchased and cancelled under the NCIB<SUP
STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1.9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)</B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)</B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(11.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(128</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Share-based payment plans</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Stock options exercised</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Issued and outstanding, end of
period</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>296.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,169</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">298.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,191</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The nine months ended Sept. 30, 2025 includes nil tax on share buybacks (Sept. 30, 2024 &#8212;
$2 million) on the fair value of the shares repurchased. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Shares purchased by the Company under the NCIB (as defined below) 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></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Normal Course Issuer Bid (NCIB) Program </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The effects of the Company&#8217;s purchase and cancellation of common shares during the period are as follows: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="80%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total shares
purchased<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,932,800</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">11,814,700</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Average purchase price per
share</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12.42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9.65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total cost ($ millions)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">114</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Book value of shares cancelled</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">128</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Amount recorded in deficit</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The nine months ended Sept. 30, 2025 includes nil tax on share buybacks (Sept. 30, 2024 &#8212;
$2 million) on the fair value of the shares repurchased. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;27, 2025, the Company announced that it had received approval from the
Toronto Stock Exchange to repurchase up to a maximum of 14&nbsp;million common shares during the <FONT STYLE="white-space:nowrap">12-month</FONT> period that commenced May&nbsp;31, 2025 and terminates on the earlier of May&nbsp;30, 2026 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. Any common shares purchased under the NCIB will be cancelled. </FONT></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>C. Dividends </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Oct. 22, 2025, the Company declared a quarterly dividend of $0.065 per common share, payable on Jan. 1, 2026. There have been no
other transactions involving common shares between the reporting date and the date of completion of these condensed consolidated financial statements.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>18. Preferred Shares </B></FONT></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Issued and Outstanding </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">All preferred shares issued and outstanding are <FONT STYLE="white-space:nowrap">non-voting</FONT> cumulative redeemable fixed or floating rate first preferred shares. </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="67%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="8"></TD>
<TD HEIGHT="8" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept. 30, 2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec. 31, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Series<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Number<BR>of&nbsp;shares<BR>(millions)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Number<BR>of&nbsp;shares</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>(millions)</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series A</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>235</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">235</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series B</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>58</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2.4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">58</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series C</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>243</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">243</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series D</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series E</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>219</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">219</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series G</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>161</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">6.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">161</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4">Issued and outstanding, end of
period</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>38.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>942</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">38.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">942</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Series I Preferred Shares are accounted for as long-term debt. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Oct. 22, 2025, the Company declared a quarterly dividend of $0.17981 per share on
the Series A preferred shares, $0.29560 per share on the Series B preferred shares, $0.36588 per share on the Series C preferred shares, $0.36302 per share
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
on the Series D preferred shares, $0.43088 per share on the Series E preferred shares and $0.42331 per share on the Series G preferred shares, payable on Dec. 31, 2025.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>19. Commitments and
Contingencies </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">While the Company has not incurred any additional material contractual commitments in
the nine months ended Sept. 30, 2025, either directly or through its interests in joint operations
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
and joint ventures, there were reductions to the expected future payments under the Company&#8217;s long-term service agreements in the nine months ended Sept. 30, 2025.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total revised
approximate future payments under the long-term service agreements are as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="63%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2026</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2027</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2028</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2029</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2030 and<BR>thereafter</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Long-term service agreements</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">118</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">271</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Refer to the commitments disclosed in Note 37 of the 2024 audited annual consolidated financial
statements. </FONT></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Commitments </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Natural Gas, Transportation and </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Other Contracts </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company has natural gas transportation contracts, for a total of up to 400 terajoules (TJ) per day on a firm basis, related to the Sundance and Keephills facilities, ending in 2036 to 2038. In addition, the Company has natural
gas transportation agreements for approximately 150 TJ per day for Sheerness. The Company currently expects to use approximately 160 TJ per day on average and up to
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
approximately 450 TJ per day during peak periods, while remarketing the excess capacity. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Long-Term Service Agreements </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta has various service agreements in place, primarily for
inspections, repairs and maintenance that may be required on natural gas facilities and turbines at various wind facilities.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F31&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Contingencies </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta is occasionally named as a party in various claims and legal and regulatory
proceedings that arise during the normal course of its business. The Company 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
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
regulatory bodies may also arise in the normal course of business, to which the Company responds as required. Refer to Note 37 of the 2024 audited annual consolidated financial statements for the
current material outstanding contingencies. There were no material changes to the contingencies in the nine months ended Sept. 30, 2025.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>20.&nbsp;Segment&nbsp;Disclosures </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>A. Description of Reportable Segments </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has six reportable segments as described in Note 1 of the Company&#8217;s
2024 audited annual consolidated financial statements. The Gas reportable segment includes Heartland, which was acquired on Dec. 4, 2024. Refer to Note 4 of the 2024 audited annual consolidated financial statements for further details of the
Heartland business acquisition and preliminary purchase price allocation. There were no adjustments made to the preliminary purchase price allocation as at Sept. 30, 2025. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following tables provides each segment&#8217;s results in the format that the TransAlta&#8217;s President and Chief Executive
Officer (the chief operating decision maker) (CODM) reviews the Company&#8217;s segments to make operating decisions and assess performance. The tables below show the reconciliation
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
of the total segmented results and adjusted EBITDA to the statement of (loss) earnings reported under IFRS. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For internal reporting purpose, the earnings information from the Company&#8217;s investment in Skookumchuck has been presented in
the Wind and Solar segment on a proportionate basis. Information on a proportionate basis reflects the Company&#8217;s share of Skookumchuck&#8217;s statement of earnings on a
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">line-by-line</FONT></FONT> 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></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F32</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>B. Reported Adjusted Segment Earnings and Segment Assets </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>I. Reconciliation of Adjusted EBITDA to (Loss) Earnings before Income Tax </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="43%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>3 Months Ended Sept. 30, 2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>IFRS</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>financials</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>95</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>326</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>158</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>619</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>615</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT>
(gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Revenues from Required Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange (gain) loss on commodity</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted revenue</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>83</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>321</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>148</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>674</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>615</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>119</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>98</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>227</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>227</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power related to Required Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted fuel and purchased power</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>120</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>98</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>228</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>227</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted gross margin</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>87</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>166</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>411</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(54</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>353</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>41</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>180</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A related to Required Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">ERP integration costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and restructuring costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted OMGA</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>171</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>73</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>110</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>238</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(135</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Equity loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange gain</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Fair value change in contingent consideration</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Loss before income taxes</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined, has no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F33&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="46%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>IFRS</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>financials</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">105</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">314</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">165</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">641</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">638</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT>
(gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">74</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">59</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(59</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange loss on commodity</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">106</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">77</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">317</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">157</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">709</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(68</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">638</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">104</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">213</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">213</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted gross margin</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">72</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">177</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">455</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(68</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">384</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">144</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and restructuring costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">89</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">141</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">315</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(133</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Equity loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(83</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Earnings before income taxes</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined, has no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F34</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="46%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30, 2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>IFRS</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>financials</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>310</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>169</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>920</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>385</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>102</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1,820</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1,806</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT>
(gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>182</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>198</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(198</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Revenues from Required Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange gain on commodity</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted revenue</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>304</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>357</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>969</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>389</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2,045</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(225</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>1,806</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>388</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>247</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>677</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>677</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power related to Required Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted fuel and purchased power</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>386</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>247</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>675</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>677</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance costs (recovery)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(68</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted gross margin</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>288</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>331</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>507</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>142</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,360</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(227</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,119</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>82</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>188</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>135</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>528</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>525</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A related to Required Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">ERP integration costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and restructuring costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted OMGA</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>82</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>183</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>113</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>501</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>525</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Insurance recovery</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted net other operating income</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>246</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>236</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>342</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>84</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(115</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>857</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(431</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Equity income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(266</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Fair value change in contingent consideration</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>(55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Loss before income taxes</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined, has no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F35&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="39%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30, 2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>IFRS</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>financials</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">316</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">253</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,031</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">461</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">154</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,181</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,167</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT>
(gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(86</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(28</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(15</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange gain on commodity</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">313</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">319</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">963</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">433</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">149</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,143</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,167</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">339</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">316</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">690</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">690</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance costs (recovery)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">106</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">73</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">73</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted gross margin</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">300</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">297</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">518</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">116</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">149</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,380</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,404</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">70</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">105</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">424</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">421</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and restructuring costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">70</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">97</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">416</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">421</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(30</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(37</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(37</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">259</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">221</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">408</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">63</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">120</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(98</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">973</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(388</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Equity income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(232</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Foreign exchange loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Earnings before income taxes</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">370</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is not defined, has no standardized meaning under IFRS and may not be comparable
to similar measures presented by other issuers. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>&#8195;F36</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>21. Related-Party Transactions </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Transactions with Associates </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In connection with the exchangeable securities issued to Brookfield, the Investment
Agreement entitles Brookfield to nominate two directors to the TransAlta Board. This allows Brookfield to participate in the financial and operating policy decisions of the Company, and as such, they are considered associates of the Company.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company may, in the normal course of operations, enter into transactions on market terms with associates </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Transactions with Brookfield include the following:
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">that have been measured at exchange value and recognized in the condensed
consolidated financial statements, including power purchase and sale agreements, derivative contracts and asset management fees. Transactions and balances between the Company and associates do not eliminate. Refer to Note 26 and 36 of the 2024
audited annual consolidated financial statements. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="57%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Power sales</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B></B>&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>F37&#8195;</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="srom938159_20"></A>EXHIBIT&nbsp;&#8220;D&#8221; </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INTERIM MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED
SEPTEMBER&nbsp;30, 2025 AND 2024 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">See attached. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SD-1 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">&#8195; </FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">


<IMG SRC="g938159g08g08.jpg" ALT="LOGO" STYLE="width:2.735in;height:0.495in;">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:30pt; font-family:arial"><FONT COLOR="#171a5f"><B>TRANSALTA CORPORATION </B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:30pt; font-family:arial"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion </B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:30pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>and Analysis </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">This Management&#8217;s Discussion and Analysis (MD&amp;A) contains forward-looking
statements. These statements are based on certain estimates and assumptions and involve risks and uncertainties. Actual results may differ materially. Refer to the Forward-Looking Statements section of this MD&amp;A for additional information.
</FONT></P> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Table of Contents </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #171a5f">&nbsp;</DIV>
<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">


<TR>

<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M2</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_1">Forward-Looking Statements</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M4</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_2">Description of the Business</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M6</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_3">Highlights</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M8</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_4">Significant and Subsequent Events</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M10</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_5">Operating and Financial Performance</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M20</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_6">2025 Outlook</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M22</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_7">Segmented Financial Performance and Operating Results</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M34</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_8">Performance by Segment with Supplemental Geographical Information</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M35</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_9">Optimization of the Alberta Portfolio</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M41</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_10">Selected Quarterly Information</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M43</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_11">Financial Position</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M45</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_12">Financial Capital</A></FONT></TD></TR>
</TABLE> </DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7.5pt" ALIGN="center">


<TR>

<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M49</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_13">Cash Flows</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M51</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_14">Capital Expenditures</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M52</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_15">Growth</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M54</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_16">Other Consolidated Analysis</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M54</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_17">Financial Instruments</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M55</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_18"><FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M67</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_19">Material Accounting Policies and Critical Accounting Estimates</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M68</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_20">Accounting Changes</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M68</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_21">Governance and Risk Management</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M69</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_22">Regulatory Updates</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M71</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_23">Disclosure Controls and Procedures</A></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#636466"><B>M72</B></FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#636466"><A HREF="#sdm938159_24">Glossary of Key Terms</A></FONT></TD></TR>
</TABLE> </div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #171a5f">&nbsp;</DIV>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="justify"><FONT COLOR="#171a5f"><I>This MD&amp;A should be read in conjunction with our unaudited interim condensed consolidated financial statements as at and
for the three and nine months ended Sept. 30, 2025 and 2024, and should be read in conjunction with the audited annual consolidated financial statements and MD&amp;A (2024 Annual MD&amp;A) contained within our 2024 Integrated Report. In this
MD&amp;A, unless the context otherwise requires, &#8220;we&#8221;, &#8220;our&#8221;, &#8220;us&#8221;, the &#8220;Company&#8221; and &#8220;TransAlta&#8221; refer to TransAlta Corporation and its subsidiaries. The unaudited interim condensed
consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) for Canadian publicly accountable enterprises as issued by the International Accounting Standards Board (IASB) and in effect
at Sept. 30, 2025. All tabular amounts in the following discussion are in millions of Canadian dollars unless otherwise noted, except amounts per share, which are in whole dollars to the nearest two decimals. This MD&amp;A is dated Nov. 5, 2025.
Additional information respecting TransAlta, including our Annual Information form (AIF) for the year ended Dec. 31, 2024, is available on SEDAR+ at </I><B><I>www.sedarplus.ca</I></B><I>, on EDGAR at </I><B><I>www.sec.gov</I></B><I></I><B><I>
</I></B><I>and on our website at </I><B><I>www.transalta.com</I></B><I>. Information on or connected to our website is not incorporated by reference herein. </I></FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="97%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M1</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_1"></A>Forward-Looking Statements </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">This MD&amp;A includes &#8220;forward-looking information&#8221; within the meaning
of applicable Canadian securities laws and &#8220;forward-looking statements&#8221; within the meaning of applicable U.S. securities laws, including the <I>Private Securities Litigation Reform Act </I>of 1995 (collectively referred to herein as
&#8220;forward-looking statements&#8221;). </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Forward-looking statements are not facts, but only predictions and generally
can be identified by the use of statements that include phrases such as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;can&#8221;, &#8220;could&#8221;, &#8220;would&#8221;, &#8220;shall&#8221;, &#8220;believe&#8221;, &#8220;expect&#8221;,
&#8220;estimate&#8221;, &#8220;anticipate&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;forecast&#8221;, &#8220;foresee&#8221;, &#8220;potential&#8221;, &#8220;enable&#8221;, &#8220;continue&#8221; or other comparable terminology. 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 those set out
in or implied by the forward-looking statements. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In particular, this MD&amp;A contains forward-looking statements about
the following, among other things: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The strategic objectives of the Company and that the execution of the Company&#8217;s strategy will
realize value for shareholders; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our capital allocation and financing strategy; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our 2025 Outlook; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our financial and operational performance, including our hedge position;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The optimization and diversification of our generating assets; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The increasingly contracted nature of our fleet; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Expectations about strategies for growth and expansion; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Expectations regarding ongoing and future transactions, including the divestitures of our Poplar
Hill and Rainbow Lake facilities; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Expected costs and schedules for planned projects; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Expected regulatory processes and outcomes, including in relation to the Alberta restructured
energy market; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The power generation industry and the supply and demand of electricity;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The cyclicality of our business; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Expected outcomes with respect to legal proceedings; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The expected impact of future tax and accounting changes; and </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Expected industry, market and economic conditions. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The forward-looking statements contained in this MD&amp;A are based on many assumptions including, but not limited to, the
following: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to applicable laws and regulations; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No unexpected delays in obtaining required regulatory approvals;
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No material adverse impacts to investment and credit markets; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to power price and hedging assumptions; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to gas commodity price assumptions and transport costs;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to interest rates or foreign exchange rates; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to the demand for, and growth of, renewables and thermal generation;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to the integrity and reliability of our facilities;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant changes to the Company&#8217;s debt and credit ratings;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No unforeseen changes to economic and market conditions; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No significant event occurring outside the ordinary course of business; and
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Realization of expected impacts from ongoing and future transactions. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">These assumptions are based on information currently available to TransAlta, including information obtained from third-party
sources. Actual results may differ materially from those predicted by such assumptions. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Factors that may adversely
impact what is expressed or implied by forward-looking statements contained in this MD&amp;A include, but are not limited to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Fluctuations in power prices; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Changes in supply and demand for electricity; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our ability to contract our electricity generation for prices that will provide expected returns;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our ability to replace contracts as they expire; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Risks associated with development projects and acquisitions; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Failure to complete acquisitions or divestitures on the terms and conditions specified or at all;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Any difficulty raising needed capital in the future on reasonable terms or at all;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Our ability to achieve our targets relating to environmental, social and governance (ESG)
performance; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Long-term commitments on gas transportation capacity that may not be fully utilized over time;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Changes to the legislative, regulatory and political environments; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Environmental requirements and changes in, or liabilities under, these requirements;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Operational risks involving our facilities, including unplanned outages and equipment failure;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Disruptions in the transmission and distribution of electricity; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Reductions in production including lower wind resource; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Impairments and/or writedowns of assets;
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M2</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Adverse impacts on our information technology systems and our internal control systems, including
increased cybersecurity threats; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Commodity risk management and energy trading risks; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Reduced labour availability and ability to continue to staff our operations and facilities;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Disruptions to our supply chains; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Climate-change related risks; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Reductions to our generating units&#8217; relative efficiency or capacity factors;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">General economic risks, including deterioration of equity markets, increasing interest rates or
rising inflation; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">General domestic and international economic and political developments, including potential trade
tariffs; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Industry risk and competition; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Counterparty credit risks; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Inadequacy or unavailability of insurance coverage; </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increases in the Company&#8217;s income taxes and any risk of reassessments;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Legal, regulatory and contractual disputes and proceedings involving the Company;
</FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Reliance on key personnel; and </FONT></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Labour relations matters.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The foregoing risk factors, among others, are described in further detail in the
Governance and Risk Management section of this MD&amp;A and the Risk Factors section in our AIF for the year ended Dec. 31, 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Readers are urged to consider these factors carefully when evaluating the forward-looking statements, which reflect the Company&#8217;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 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&#8217;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></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="97%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M3</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_2"></A>Description of the Business </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">TransAlta Corporation is one of Canada&#8217;s largest publicly traded power
generators, owning and operating a diverse fleet across Canada, the United States and Western Australia. Our portfolio includes hydro, wind, solar, battery storage, natural gas and coal, complemented by our exceptional asset optimization and energy
marketing capabilities. As one of Canada&#8217;s largest producers of wind and thermal generation and Alberta&#8217;s largest producer of hydro power, TransAlta remains committed to a balanced, technology-agnostic generation mix. With strong cash
flows underpinned by a high-quality portfolio, TransAlta strives to deliver sustainable long-term shareholder value in an evolving energy landscape. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s goal is to deliver solutions to meet our customers&#8217; needs for reliable, sustainable power. With over a
century of experience, TransAlta is a trusted partner delivering tailored solutions. Our strategic priorities include optimizing our Alberta portfolio, executing our growth plan, realizing the value of our legacy generating facilities, maintaining
financial strength and capital discipline, defining the next generation of power solutions and leading in ESG and market policy development. We are primarily focused on opportunities within our core markets of Canada, the United&nbsp;States and
Western Australia. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Portfolio of Assets </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our asset portfolio is geographically diversified with operations across our core markets. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Hydro, Wind and Solar, Gas and Energy Transition segments are responsible for operating and maintaining our
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
generation facilities. Our Energy Marketing segment is responsible for marketing and scheduling our merchant asset fleet in North America (excluding Alberta) along with the procurement, transport
and storage of natural gas, providing knowledge to support our growth team, and generating a stand-alone gross margin separate from our asset business through a leading North American energy marketing and trading platform. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our highly diversified portfolio consists of both merchant and high-quality contracted assets. Our merchant assets include our
unique hydro portfolio, legacy thermal portfolio and a portion of our wind assets. Our merchant exposure is primarily in Alberta, where 58&nbsp;per cent of our capacity is located with 77&nbsp;per cent of the capacity available to participate in the
merchant market. Our high-quality contracted assets balance the merchant fleet by providing stable long-term earnings and cash flow. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">In Alberta, the Company manages its merchant exposure by executing hedging strategies that include a significant base of commercial and industrial (C&amp;I) customers, supplemented with financial hedges. A major portion of our
thermal and hydro generation capacity in Alberta may be hedged to provide greater cash flow certainty while also capturing higher shareholder returns through the optimization of our merchant generation portfolio. Refer to the 2025 Outlook section
and the Optimization of the Alberta Portfolio section of this MD&amp;A for further details. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M4</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides our consolidated ownership by
segment of our facilities across the regions in which we operate as of Sept. 30, 2025: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="33%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp; Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As&nbsp;at&nbsp;Sept.&nbsp;30,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gross<BR>Installed<BR>Capacity<BR>(MW)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number&nbsp;of<BR>facilities</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gross<BR>Installed<BR>Capacity<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number&nbsp;of<BR>facilities</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gross<BR>Installed<BR>Capacity<BR>(MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number&nbsp;of<BR>facilities<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gross<BR>Installed<BR>Capacity<BR>(MW)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number&nbsp;of<BR>facilities<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gross<BR>Installed<BR>Capacity<BR>(MW)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number&nbsp;of<BR>facilities</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">834</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">764</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,650</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5,248</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Canada, excluding</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Alberta</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">751</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">705</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,544</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;U.S.</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,024</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">671</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,724</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Western Australia</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">450</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">498</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>922</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2,587</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4,834</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>9,014</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.50pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>88</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.50pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Gross installed capacity for consolidated reporting is based on a proportionate interest held in a
facility. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Excludes the gross installed capacity attributable to the Required Divestitures.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Includes the Centralia coal facility and the Skookumchuck hydro facility.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Contracted Capacity </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides our contracted capacity by segment in MW and as a percentage of total gross installed capacity of our
facilities across the regions in which we operate as of Sept. 30, 2025: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="58%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="9%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at Sept. 30, 2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">336</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">887</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,223</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Canada, excluding Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">751</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">705</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,544</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;U.S.</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,024</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">29</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">301</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">1,354</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Western Australia</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">450</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">498</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#43c5e4"><B>&#8201;Total contracted capacity (MW)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;" ALIGN="right"><FONT COLOR="#636466">2,159</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">2,071</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">301</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">4,619</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#43c5e4"><B>&#8201;Contracted capacity as a % of total capacity (%)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">43</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">45</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #000000;"><FONT COLOR="#636466">51</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">The figures exclude the contracted capacity related to the Required Divestitures.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Approximately 51&nbsp;per cent of our total installed capacity is contracted with creditworthy
counterparties. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides the weighted average contract life by segment of our contracted capacity
across the regions in which we operate as of Sept. 30, 2025: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="52%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="9%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at Sept. 30, 2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Solar</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">9</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">11</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Canada, excluding Alberta</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">6</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">8</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;U.S.</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">0.3</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">9</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8201;Western Australia</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">13</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">13</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Total weighted average contract life (years)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">9</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">0.3</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">9</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Excludes the contracts pertaining to the Required Divestitures. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="97%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M5</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_3"></A>Highlights </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="59%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="7" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="7" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&#8201;(in millions of Canadian dollars except where noted)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Operational
information<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Availability (%)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>92.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">94.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>93.1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">92.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,151</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5,712</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;17,796</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">&#8195;16,612</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Select financial
information<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>615</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">638</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,806</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2,167</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>238</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">315</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>857</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">973</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted earnings before income
taxes<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">102</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>167</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">358</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">(Loss) earnings before income taxes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">370</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted net (loss) earnings attributable to common shareholders<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">233</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net (loss) earnings attributable to common shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(128</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">242</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flows<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow from operating activities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>251</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">229</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>415</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">581</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Funds from operations<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>156</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">191</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>587</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">681</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Free cash flow<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>105</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>421</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">529</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Per share<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Weighted average number of common shares outstanding</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>297</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">296</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>297</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">303</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted net (loss) earnings attributable to common shareholders per share<SUP
STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(0.02</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.77</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net (loss) earnings per share attributable to common shareholders, basic and diluted</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(0.20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">(0.12</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(0.43</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.80</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dividends declared per common share</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.065</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.060</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.130</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.120</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow from operating activities per
share<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.77</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1.92</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Funds from operations per
share<SUP STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">0.65</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.98</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">2.25</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Free cash flow per share<SUP
STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1.75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">On Dec. 4, 2024, the Company completed the acquisition of Heartland Generation, which added 1,747
MW to gross installed capacity, excluding the Poplar Hill and Rainbow Lake facilities (collectively, the Required Divestitures). Refer to Significant and Subsequent Events section of this MD&amp;A. IFRS financial statements include the results
attributable to the Required Divestitures up until the date of disposal, pursuant to a consent agreement entered into with the Commissioner of Competition for Canada. Our <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures and operational Key
Performance Indicators exclude the results of the Required Divestitures. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures and ratios, which are not
defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. We believe that presenting these items from period to period provides management and investors with the ability to evaluate
(loss) earnings and cash flow trends more readily in comparison with prior periods&#8217; results. Refer to the Segmented Financial Performance and Operating Results section of this MD&amp;A for further discussion of these items. Also, refer to the <FONT
STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more information regarding these <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures and ratios, including, where applicable,
reconciliations to measures calculated in accordance with IFRS. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted net (loss) earnings attributable to common shareholders per share, funds from operations
(FFO) per share and free cash flow (FCF) per share are calculated using the weighted average number of common shares outstanding during the period. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures
section of this MD&amp;A for more information regarding these <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures and ratios. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Represents a supplementary financial measure and is calculated as Cash flow from operating
activities for the period divided by the weighted average number of common shares outstanding during the period. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M6</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="72%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">(in millions of Canadian dollars except where
noted)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;As at</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept.&nbsp;30,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Liquidity and capital resources</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Available liquidity<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,553</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,616</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted net debt to adjusted EBITDA
(times)<SUP STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3.9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3.6</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total consolidated net debt<SUP STYLE="font-size:75%; vertical-align:top">(2)(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,785</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">3,798</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Assets and liabilities</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8,892</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">9,499</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total long-term liabilities<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,430</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">5,087</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.75em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Total liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7,280</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7,656</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Available liquidity is a supplementary financial measure and is calculated as the sum of total
available capacity under the committed credit and term facilities and cash and cash equivalents less bank overdraft and the amounts drawn under the <FONT STYLE="white-space:nowrap">non-committed</FONT> demand facilities.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures and ratios, which are not
defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. We believe that presenting these items from period to period provides management and investors with the ability to evaluate
earnings trends more readily in comparison with prior periods&#8217; results. Refer to the Segmented Financial Performance and Operating Results section of this MD&amp;A for further discussion of these items. Also, refer to the <FONT
STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more information regarding these <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures and ratios, including, where applicable,
reconciliations to measures calculated in accordance with IFRS. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The most directly comparable IFRS ratio to Adjusted net debt to adjusted EBITDA (times) is
calculated as total credit facilities, long-term debt and lease liabilities of $3,665&nbsp;million (Dec. 31, 2024 &#8212; $3,808 million) divided by loss before income taxes for the last four quarters of $150&nbsp;million (Dec. 31, 2024 &#8212; $319
million) and is equal to (24)&nbsp;times (Dec. 31, 2024 &#8212; 12 times). Refer to Key <FONT STYLE="white-space:nowrap">non-IFRS</FONT> financial ratios section of this MD&amp;A for details of the calculation. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The most directly comparable IFRS measure to total consolidated net debt is total credit
facilities, long-term debt and lease liabilities, which is equal to $3,665&nbsp;million (Dec. 31, 2024 &#8212; $3,808 million). Refer to the table in the Financial Capital section of this MD&amp;A for more details on the composition of total
consolidated net debt. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total long-term liabilities are equal to total
<FONT STYLE="white-space:nowrap">non-current</FONT> liabilities in the condensed consolidated statements of financial position under IFRS. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="97%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M7</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_4"></A>Significant and Subsequent Events
</B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Chief Executive Officer Succession </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Nov. 6, 2025, the Company announced that John Kousinioris, President and Chief Executive Officer and a Director of TransAlta,
plans to retire effective April&nbsp;30, 2026. Concurrent with this announcement, the Board of Directors (Board) has appointed Joel Hunter, TransAlta&#8217;s Executive Vice President, Finance and Chief Financial Officer, to succeed
Mr.&nbsp;Kousinioris as President and Chief Executive Officer and be nominated to join the Board effective April&nbsp;30, 2026. Mr.&nbsp;Kousinioris has agreed to serve as a strategic advisor to Mr.&nbsp;Hunter and the Board for a period of six
months following his retirement. The Company&#8217;s Chief Financial Officer successor will be announced in the coming months. </FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Demand Transmission Service Contract </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Subsequent to the quarter, the Company entered into a 230 MW Demand Transmission Service Contract with the Alberta Electric System
Operator (AESO), representing the full allocation awarded to the Company through Phase I of the AESO&#8217;s Data Centre Large Load Integration Program. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>Completion of Required Divestitures </B></FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Aug. 1, 2025, the Company completed the sale of its
100&nbsp;per cent interest in the 48 MW Poplar Hill facility, followed by the completion of the sale of its 50&nbsp;per cent interest in the 97 MW Rainbow Lake facility on Oct. 2, 2025. Both divestitures were required by the consent agreement
entered into with the federal Competition Bureau as part of its regulatory approval for the Company&#8217;s acquisition of Heartland Generation. Energy Capital Partners is entitled to receive the proceeds from the sale of both facilities, net of
certain adjustments, following completion of the divestitures.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Credit Facility Extension </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On July&nbsp;16, 2025, the Company executed agreements to extend its committed credit facilities totalling $2.1&nbsp;billion with a
syndicate of lenders. The revised agreements reduced the Syndicated facility size from $1.95 to $1.90&nbsp;billion, and extended its maturity from June&nbsp;30, 2028 to June&nbsp;30, 2029. The bilateral credit facilities of $240&nbsp;million were
extended by one year to June&nbsp;30, 2027. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Recontracting of Ontario Wind Facilities </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the second quarter of 2025, the Company successfully recontracted its Melancthon 1, Melancthon 2 and Wolfe Island wind
facilities through the Ontario Independent Electricity System Operator Five-Year Medium-Term 2 Energy Contract (MT2e). MT2e will replace current energy contracts for the three wind facilities when they expire, extending the contract dates until
April 30, 2031, for Melancthon 1 and April 30, 2034, for Melancthon 2 and Wolfe Island. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Senior Notes Offering </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On March&nbsp;24, 2025, the Company issued $450&nbsp;million of senior notes with a fixed annual coupon of 5.625&nbsp;per cent,
maturing on March&nbsp;24, 2032. The notes are unsecured and rank equally in right of payment with all existing and future senior indebtedness and senior in right of payment to all future subordinated indebtedness. Interest payments on the notes are
made semi-annually, on March&nbsp;24 and Sept. 24, with the first payment having been made on Sept. 24, 2025. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On
March&nbsp;25, 2025, the Company repaid its $400&nbsp;million variable rate term loan facility in advance of the scheduled maturity date of Sept. 7, 2025, with the proceeds received from the $450&nbsp;million senior notes offering.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M8</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Nova Clean Energy, LLC </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the first quarter of 2025, the Company made a strategic investment in Nova Clean Energy, LLC (Nova), a developer of
renewable energy projects. The investment includes a US$75&nbsp;million term loan and US$100&nbsp;million revolving facility. As of Sept. 30, 2025, US$90&nbsp;million was drawn by Nova under the credit facilities. The outstanding principal under the
term loan and the revolving facility bear interest at seven per cent per annum with interest due quarterly. The terms of the term loan and the revolving facility are six and five years, respectively, unless accelerated. The term loan is convertible
to a minority equity interest at any time, prior to maturity, at the option of the Company and any remaining unused term loan commitments at the time of conversion would be terminated. This investment provides the Company with the exclusive right to
purchase Nova&#8217;s late-stage development projects in the western U.S. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Mothballing of Sundance 6 </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On April&nbsp;1, 2025, the Company mothballed the Sundance Unit 6 facility for a period of up to two years depending on market
conditions. TransAlta maintains the flexibility to return the mothballed unit to service when market fundamentals improve or opportunities to contract are secured.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Declared Increase in Common Share Dividend </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Feb. 19, 2025, the Company&#8217;s Board of Directors approved a $0.02 annualized increase to the common share dividend, an
increase of eight per cent, and declared a dividend of $0.065 per common share payable on July&nbsp;1, 2025 to shareholders of record at the close of business on June&nbsp;1, 2025. The quarterly dividend of $0.065 per common share represents an
annualized dividend of $0.26 per common share. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Oct. 22, 2025, the Company declared a quarterly dividend of $0.065
per common share, payable on Jan. 1, 2026. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Normal Course Issuer Bid (NCIB) </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;27, 2025, the Company announced that it had received approval from the Toronto Stock Exchange to repurchase up to a
maximum of 14&nbsp;million common shares during the <FONT STYLE="white-space:nowrap">12-month</FONT> period that commenced May&nbsp;31, 2025 and will terminate on May&nbsp;30, 2026. </FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the nine months ended Sept. 30, 2025, the Company purchased and cancelled a total of 1,932,800 common shares at an average
price of $12.42 per common share, for a total cost of $24&nbsp;million, including taxes. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="97%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M9</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_5"></A>Operating and Financial Performance
</B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Operating Performance </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Availability </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides availability (%) by segment: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="55%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Hydro</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>82.9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">94.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>91.1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">92.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Wind and Solar</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>94.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">93.7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>94.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">93.8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Gas</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>95.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">96.3</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>93.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">95.4</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Energy Transition</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>83.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">90.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>87.2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">76.1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1.00pt solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #000000;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #000000;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #000000;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #000000;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Availability (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>92.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">94.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>93.1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">92.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Availability is an important measure for the Company as it represents the percentage
of time a facility is available to produce electricity, and is an indicator of the overall performance of the fleet. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Availability is impacted by planned and unplanned outages, and derates. The Company schedules dedicated time (planned outages) to
maintain, repair or make improvements to the facilities at a time that will minimize the impact to operations. In high price environments, actual outage schedules may shift or change to accelerate the return to service of the unit. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Availability for the three months ended Sept. 30, 2025, was 92.7&nbsp;per cent compared to 94.5&nbsp;per cent in the same period in
2024. Lower availability compared to the prior period was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher planned maintenance outages in the Hydro segment; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unplanned outages at the Centralia facility in the Energy Transition segment; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher derates in the Gas segment.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Availability for the nine months ended Sept. 30, 2025 was 93.1&nbsp;per cent compared
to 92.5&nbsp;per cent in the same period in 2024. Higher availability compared to the same period in 2024 was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower planned and unplanned outages at the Centralia facility in the Energy Transition segment; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The impact from the White Rock and Horizon Hill wind facilities which achieved commercial operation
in the first half of 2024 and operated at higher availability during the current period; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher planned and unplanned outages in the Gas segment; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher planned maintenance outages in the Hydro segment.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M10</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Production and Long-Term Average Generation </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides the production and long-term average generation (LTA generation) on a consolidated basis for each of
our segments: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="52%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="12"></TD>
<TD HEIGHT="4" COLSPAN="12"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8199;3 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Actual<BR>production<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>LTA<BR>generation<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Production<BR>as a % of<BR>LTA</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Actual<BR>production<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>LTA<BR>generation<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Production<BR>as a % of<BR>LTA</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Hydro</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>623</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>573</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>109%</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">494</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">573</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">86%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Wind and Solar</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,028</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,472</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>70%</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,121</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,472</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">76%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Gas</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,514</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">3,119</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Energy Transition</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>986</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">978</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,151</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5,712</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="49%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="12"></TD>
<TD HEIGHT="4" COLSPAN="12"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT STYLE="font-size:8pt" COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7.5pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Actual<BR>production<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>LTA<BR>generation<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Production<BR>as a % of<BR>LTA</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Actual<BR>production<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>LTA<BR>generation<BR>(GWh)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Production<BR>as a % of<BR>LTA</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Hydro</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,578</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,568</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>101%</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,271</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,568</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">81%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Wind and
Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,446</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,282</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>84%</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4,118</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4,701</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">88%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Gas</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9,504</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9,442</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Energy Transition</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,268</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,781</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17,796</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">16,612</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">LTA generation for Wind and Solar increased as a result of new wind facilities, including the
White Rock and the Horizon Hill wind facilities commissioned in the first half of 2024. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition to availability, the Company uses LTA generation as another indicator of
performance for the renewable facilities, whereby actual production levels are compared against the expected long-term average. In the short term, for each of the Hydro and Wind and Solar segments, conditions will vary from one period to the next.
Over longer durations, facilities are expected to produce <FONT STYLE="white-space:nowrap">in-line</FONT> with their long-term averages, which is broadly considered a reliable indicator of performance. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">LTA generation is calculated on an annualized basis from the average annual energy yield predicted from our simulation models based
on historical resource data performed over a period of typically greater than 25 years. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The LTA generation for Gas and
Energy Transition is not applicable as these facilities are dispatchable and their production is largely dependent on market conditions and merchant demand.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total production for the three months ended Sept. 30, 2025, increased by 439 GWh, or
eight per cent, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Production from the Heartland gas facilities acquired in December 2024; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production from higher Alberta water reserves in the Hydro segment due to higher
precipitation during the quarter; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher dispatch optimization in Alberta in the Gas segment due to lower market prices;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower production in Australia due to lower customer demand; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower wind resource across Canada and United States.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M11</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total production for the nine months ended Sept. 30, 2025, increased by 1,184 GWh, or
seven per cent, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Production from the Heartland gas facilities acquired in December 2024;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Improved availability at Centralia; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Production impact from the White Rock and Horizon Hill wind facilities which achieved commercial
operation in the first half of 2024; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production in the Hydro segment due to higher water reserves and optimization of water
supply; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher dispatch optimization in Alberta in the Gas segment due to lower market prices; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower production in Australia due to lower customer demand.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Market Pricing
</B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="57%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alberta spot power price ($/MWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>44</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">67</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Mid-Columbia</FONT> spot power price
(US$/MWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>47</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>44</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Ontario spot power price<SUP STYLE="font-size:75%; vertical-align:top">(1)
</SUP>($/MWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>54</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">32</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Natural gas price (AECO) per GJ
($)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.63</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.67</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.43</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1.24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Ontario spot power prices through April 2025 were based on the hourly Ontario energy price
(HOEP). Starting May 2025 prices are based on the settled day ahead hourly Ontario zonal energy prices. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the three and nine months ended Sept. 30, 2025, spot power prices in Alberta were
seven and 34&nbsp;per cent lower, respectively, compared to the same periods in 2024, driven by generally milder weather and increased supply from new renewable and <FONT STYLE="white-space:nowrap">gas-fired</FONT> facilities. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the three and nine months ended Sept. 30, 2025, <FONT STYLE="white-space:nowrap">Mid-</FONT> Columbia spot power prices in the
Pacific Northwest were six and 28&nbsp;per cent lower, respectively, compared to the same periods in 2024, due to lower natural gas prices and the impact of a milder weather on the nine months ended Sept. 30, 2025. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Ontario spot power prices were higher on average compared to the same periods in 2024, due to nuclear
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
refurbishments occurring in 2025 and higher natural gas prices. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the three months ended Sept. 30, 2025, AECO natural gas prices were six per cent lower, compared to the same period in 2024,
mainly due to higher gas production in Alberta and throughout North America. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the nine months ended Sept. 30, 2025,
AECO natural gas prices were 15&nbsp;per cent higher, compared to the same period in 2024, mainly due to lower storage levels in Alberta and throughout North America, as well as stronger demand.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M12</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Financial Performance Review of Consolidated Information </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="57%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Revenues</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>615</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">638</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,806</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,167</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Fuel and purchased power</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(227</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(213</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(677</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(690</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Carbon compliance costs</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(73</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Operations, maintenance and administration</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(143</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(525</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(421</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(135</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(133</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(431</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(388</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Asset impairment charges</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(20</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Fair value change in contingent consideration payable</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Interest expense</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(266</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(232</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Foreign exchange gain (loss)</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">(Loss) earnings before income taxes</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">370</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Income tax expense</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Net (loss) earnings attributable to common shareholders</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(128</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">242</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Net (loss) earnings attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M13</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#636466"><B>Three months ended Sept. 30, 2025 Variance Analysis (2025 versus 2024) </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Revenues </B>for the three months ended Sept. 30, 2025 decreased by $23&nbsp;million, or four per cent, compared to the same
period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower spot power prices in the Alberta market; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher dispatch optimization in the Gas segment driven by lower power prices in Alberta;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower realized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains on settled trades in the Energy Marketing and Gas segments; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The full quarter impact from the addition of the Heartland facilities in the fourth quarter of
2024. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Fuel and purchased power costs </B>for the three months ended Sept. 30, 2025 increased by
$14&nbsp;million, or seven per cent, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Full quarter impact from the addition of the Heartland facilities in the fourth quarter of 2024;
partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower purchased power in the Energy Transition segment due to fewer repurchases to fulfill
contractual obligations during outages. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Carbon compliance costs </B>for the three months ended
Sept. 30, 2025 decreased by $6&nbsp;million compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable impact on carbon compliance cost due to an increase of production from lower
carbon-emitting cogeneration facilities; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The addition of carbon compliance costs from the addition of the Heartland facilities acquired in
the fourth quarter of 2024; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price from $80 per tonne in 2024 to $95 per tonne in 2025.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>OM&amp;A expenses </B>for the three months ended Sept. 30, 2025 increased by $36&nbsp;million, or
25&nbsp;per cent, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Full quarter impact from the addition of the Heartland facilities in the fourth quarter of 2024 and
associated corporate costs; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spending related to the implementation of an upgrade to our enterprise resource planning
(ERP) system. </FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Asset impairment charges </B>for the the three months ended Sept. 30, 2025
increased by $7&nbsp;million, or 35&nbsp;per cent, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An impairment charge, net of impairment reversals related to the Wind and Solar facilities driven
by changes in expected production volumes and price assumptions; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower decommissioning and restoration provisions on retired assets driven by lower discount rates
compared to the same period in 2024. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Foreign exchange gains </B>for the three months ended Sept.
30, 2025 increased by $9&nbsp;million compared to foreign exchange losses in the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized foreign exchange gains due to favourable changes in foreign currency rates;
partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher realized foreign exchange losses due to hedges settled during the period at unfavourable
foreign currency rates. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Loss before income taxes </B>for the three months ended Sept. 30, 2025
increased by $62&nbsp;million from earnings before income taxes in the same period in 2024, due to the above noted items. Refer to the Segment Financial Performance and Operating Results section for additional information. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Income tax expense </B>for the three months ended Sept. 30, 2025 decreased by $30&nbsp;million, or 97&nbsp;per cent, compared to
the same period in 2024, due to the increase in loss before income taxes. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Net loss attributable to <FONT
STYLE="white-space:nowrap">non-controlling</FONT> interests </B>for the three months ended Sept. 30, 2025 increased by $6&nbsp;million compared to net earnings of $1&nbsp;million for the same period in 2024, primarily due to lower net earnings for
TransAlta Cogeneration, LP (TA Cogen) resulting from lower merchant pricing in the Alberta market. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M14</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#636466"><B>Nine months ended Sept. 30, 2025 Variance Analysis (2025 versus 2024) </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Revenues </B>for the nine months ended Sept. 30, 2025 decreased by $361&nbsp;million, or 17&nbsp;per cent, compared to the same
period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses in the Wind and Solar segment driven by long-term wind energy sales related to the Garden Plain and Oklahoma facilities, primarily due to lower
forecasted power prices, partially offset by <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains related to Big Level facility; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses in the Gas and Energy Transition segments primarily related to unfavourable changes in forward prices in the current period;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower Alberta and <FONT STYLE="white-space:nowrap">Mid-Columbia</FONT> power prices;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher dispatch optimization in the Gas segment driven by lower power prices in Alberta;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower realized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains on settled trades in the Energy Marketing segment; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The full three quarter impact from the addition of the Heartland facilities in the fourth quarter
of 2024; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The impact from the White Rock and Horizon Hill wind facilities which achieved commercial operation
in the first half of 2024; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher realized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains on settled trades in the Gas segment. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Fuel and purchased power costs </B>for the nine months ended Sept. 30, 2025 decreased by $13&nbsp;million, or two per cent,
compared to the same period in 2024 primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower purchased power costs driven by higher availability, which resulted in fewer repurchases to
fulfill contractual obligations during outages in the Energy Transition segment; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The full three quarter impact from the addition of the Heartland facilities in the fourth quarter
of 2024; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production in the Energy Transition segment due to higher availability.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Carbon compliance costs </B>for the nine months ended Sept. 30, 2025 decreased by $63&nbsp;million,
or 86&nbsp;per cent, compared to the same period in 2024, primarily due: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Utilization of internally generated and externally purchased emission credits in the current period
compared to the same period in 2024 to settle a portion of our 2024 GHG obligation and a portion of the GHG obligation assumed with the Heartland acquisition; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable impact on carbon compliance cost due to an increase of production from lower
carbon-emitting cogeneration facilities; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The addition of carbon compliance costs from the Heartland facilities acquired in the fourth
quarter of 2024; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price from $80 per tonne in 2024 to $95 per tonne in 2025.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>OM&amp;A expenses </B>for the nine months ended Sept. 30, 2025 increased by $104&nbsp;million, or
25&nbsp;per cent, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The full three quarter impact from the addition of the Heartland facilities in the fourth quarter
of 2024 and associated corporate costs; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spending to support strategic and growth initiatives; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spending related to the planning, design and implementation of an upgrade to our ERP system;
and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The impact from the White Rock and Horizon Hill wind facilities which achieved commercial operation
in the first half of 2024. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Depreciation and amortization </B>for the nine months ended Sept. 30,
2025 increased by $43&nbsp;million, or 11&nbsp;per cent, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The full three quarter impact from the addition of the Heartland facilities in the fourth quarter
of 2024; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The impact from the White Rock and Horizon Hill wind facilities which achieved commercial operation
in the first half of 2024. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Asset impairment charges </B>for the nine months ended Sept. 30, 2025
increased by $29&nbsp;million, or 112&nbsp;per cent, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An impairment charge on Required Divestiture assets classified as Assets Held for Sale;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An Impairment charge, net of impairment reversals, related to certain Wind and Solar facilities due
to changes in expected production volumes and price assumptions; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in decommissioning and restoration provisions on retired assets driven by lower
discount rates; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An impairment reversal related to certain Energy Transition assets reclassified to Assets held for
sale. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Fair value change in contingent consideration payable </B>totalling $37&nbsp;million was
driven by updated expected sale proceeds related to the Required Divestitures. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M15</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Interest expense </B>for the nine months ended Sept. 30, 2025 increased by
$34&nbsp;million, or 15&nbsp;per cent, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower capitalized interest resulting from lower construction activity during 2025 compared to the
same period in 2024; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher accretion of provisions; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher interest on debt driven by the addition of Heartland term facility.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Loss before income taxes </B>for the nine months ended Sept. 30, 2025 increased by
$469&nbsp;million from earnings before income taxes compared to the same period in 2024, due to the above noted items. Refer to the Segment Financial
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
Performance and Operating Results section for additional information. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466"><B>Income tax expense </B>for the nine months ended Sept. 30, 2025 decreased by $69&nbsp;million, or 78&nbsp;per cent, compared to the same period in 2024, due to the increase in loss before income taxes, partially offset by a
higher valuation allowance on U.S. operations. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Net loss attributable to
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests </B>for the nine months ended Sept. 30, 2025 decreased by $30&nbsp;million from net earnings attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests in the
same period in 2024, primarily due to lower net earnings for TA Cogen resulting from lower merchant pricing in the Alberta market.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Adjusted EBITDA
</B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the three and nine months ended Sept. 30, 2025, the Company&#8217;s Adjusted
EBITDA was $238&nbsp;million and $857&nbsp;million, respectively, compared to $315&nbsp;million and $973
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">million, respectively, in 2024, a decrease of $77&nbsp;million and $116&nbsp;million,
respectively, or 24 and 12&nbsp;per cent, respectively. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The major
factors impacting Adjusted EBITDA are summarized in the following tables: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Sept. 30</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted EBITDA for the three months ended Sept. 30,
2024<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">315</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Hydro: </B></FONT><FONT COLOR="#636466">Lower
primarily due to lower ancillary services revenue due to lower availability and production optimization between the Gas and Hydro segments, lower environmental and tax attributes revenue due to lower sales of emission credits to third parties, lower
spot power prices in the Alberta market, partially offset by higher merchant volumes and higher regulated transmission revenues related to the reimbursement of costs incurred in prior periods.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(16</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Wind and Solar: </B></FONT><FONT COLOR="#636466">Higher due to higher environmental and
tax attributes revenue driven by an increase in sales of emission credits to third parties and favourable pricing for Oklahoma facilities, partially offset by lower wind resource across Canada and United States and lower net other operating income
due to no liquidated damages recognized in the current period.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Gas: </B></FONT><FONT COLOR="#636466">Lower primarily due to higher dispatch optimization
driven by lower market prices, lower spot power prices in the Alberta market and an increase in the carbon price, partially offset by the positive contribution from the addition of Heartland facilities, favourable hedge positions settled, which
generated positive contributions over settled spot prices in Alberta and higher ancillary revenue due to production optimization between the Gas and Hydro segments.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(31</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Energy Transition: </B></FONT><FONT COLOR="#636466">Lower primarily due to lower revenue
driven by lower <FONT STYLE="white-space:nowrap">Mid-Columbia</FONT> prices, partially offset by lower purchased power costs due to fewer repurchases to fulfill contractual obligations during outages and higher volume of favourable hedge positions
settled.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Energy Marketing: </B></FONT><FONT COLOR="#636466">Lower primarily due to comparatively
subdued market volatility across North American natural gas and power markets and lower realized trades.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(25</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Corporate: </B></FONT><FONT COLOR="#636466">Comparable to the same period in 2024.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP>for the three months ended Sept. 30, 2025</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>238</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A for more details. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure. Refer to the <FONT
STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A. The most directly comparable IFRS measure is loss before income taxes of $53&nbsp;million for the three months ended Sept. 30, 2025 (earnings
before income taxes &#8212; $9&nbsp;million for the three months ended Sept. 30, 2024). Refer to Reconciliation of <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures on a Consolidated Basis by Segments section of this MD&amp;A.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M16</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Sept. 30</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted EBITDA for the nine months ended Sept. 30,
2024<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">973</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Hydro: </B></FONT><FONT COLOR="#636466">Lower primarily due to lower ancillary revenue
due to lower availability and production optimization between the Gas and Hydro segments, lower spot power prices in the Alberta market, partially offset by higher merchant and contract volumes, higher regulated transmission revenues related to the
reimbursement of costs incurred in prior periods and higher environmental and tax attributes revenue due to increased intercompany sales of emission credits to the Gas segment to fulfill our 2024 GHG obligation and higher volume of favourable hedge
positions settled, which generated positive contributions over settled spot prices in Alberta.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Wind and Solar: </B></FONT><FONT COLOR="#636466">Higher primarily due to positive
contribution from the impact from the White Rock and Horizon Hill wind facilities which achieved commercial operation in the first half of 2024, higher environmental and tax attribute revenue due to increased sales of emission credits to third
parties and intercompany sales to the Gas segment, higher production volumes in Eastern Canada due to higher wind resource, partially offset by lower spot power prices and lower wind resource in Alberta.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Gas: </B></FONT><FONT COLOR="#636466">Lower primarily due to higher dispatch optimization
due to lower market prices, lower spot power prices in the Alberta market and an increase in the carbon price, partially offset by the positive contributions from the addition of the Heartland facilities, favourable hedge positions settled, which
generated positive contributions over settled spot prices in Alberta and the reduction of carbon compliance costs by using internally generated and externally purchased emission credits to settle a portion of our 2024 GHG obligation and a portion of
the GHG obligation assumed in the Heartland acquisition.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(66</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Energy Transition: </B></FONT><FONT COLOR="#636466">Higher primarily due to lower
purchased power costs driven by higher availability, which resulted in fewer repurchases to fulfill contractual obligations during outages and favourable hedge positions settled, which generated positive contributions over settled spot prices,
partially offset by lower revenue due to lower <FONT STYLE="white-space:nowrap">Mid-Columbia</FONT> prices and higher OM&amp;A related to community fund spending.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#43c5e4"><B>Energy Marketing: </B></FONT><FONT COLOR="#636466">Lower primarily due to comparatively
subdued market volatility across North American natural gas and power markets and lower realized trades in the nine months ended Sept. 30, 2025 compared to the same period in 2024.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(56</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Corporate: </B></FONT><FONT COLOR="#636466">Lower primarily due to increased spending to support
strategic and growth initiatives and the addition of corporate costs related to Heartland.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(17</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2) </SUP>for the nine months ended Sept. 30, 2025</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>857</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A for more details. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure. Refer to the <FONT
STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A. The most directly comparable IFRS measure is loss before income taxes of $99&nbsp;million for the nine months ended Sept. 30, 2025 (earnings
before income taxes &#8212; $370&nbsp;million for the nine months ended Sept. 30, 2024). Refer to Reconciliation of <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures on a Consolidated Basis by Segments section of this MD&amp;A.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M17</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Free Cash Flow </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the three and nine months ended Sept. 30, 2025, the Company&#8217;s FCF decreased
compared to the same period in 2024. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Measures section in this MD&amp;A for more details on this <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measure. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The major
factors impacting FCF are summarized in the following tables: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Sept. 30</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">FCF for the three months ended Sept. 30, 2024</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1) </SUP>due to the
items noted above.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(77</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower current income tax expense due to the increase in loss before income taxes in 2025
compared to earnings before income taxes in the same period in 2024.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">65</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher net interest expense<SUP STYLE="font-size:75%; vertical-align:top">(2)
</SUP>primarily due to higher interest on debt driven by the addition of Heartland term facility.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower distributions paid to subsidiaries&#8217;
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests relating to lower TA Cogen net earnings resulting from lower merchant pricing in the Alberta market.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other <FONT STYLE="white-space:nowrap">non-cash</FONT> items<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(11</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF<SUP STYLE="font-size:75%; vertical-align:top">(5)
</SUP>for the three months ended Sept. 30, 2025</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>105</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net interest expense is a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure, is not
defined and has no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for
more information regarding this measure. The most directly comparable IFRS measure is total interest expense of $85&nbsp;million for the three months ended Sept. 30, 2025 (Sept. 30, 2024 &#8212; $83 million). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other <FONT STYLE="white-space:nowrap">non-cash</FONT> items consist of contract liabilities,
onerous contracts and long-term incentive accruals. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other consists primarily of higher realized foreign exchange losses, higher decommissioning and
restoration costs settled, higher sustaining capital expenditures and higher provisions accrued. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">FCF is a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure, is not defined and has no
standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more
information regarding this measure. The most directly comparable IFRS measure is cash flow from operations, which was $251&nbsp;million and $229&nbsp;million for the three months ended Sept. 30, 2025 and 2024, respectively. Refer to the Cash Flows
section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M18</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Sept. 30</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">FCF for the nine months ended Sept. 30, 2024</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">529</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP> due to the
items noted above.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(116</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher sustaining capital expenditures due to higher major maintenance at our Canadian gas
facilities due to timing of spend and the addition of maintenance for the gas facilities acquired from Heartland, partially offset by no major maintenance occurring in the Energy Transition segment in the current period. In addition, the first
quarter of 2024 was impacted by the receipt of a lease incentive related to the Company&#8217;s head office.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(42</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher net interest expense<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP> due to
higher interest on debt primarily driven by the addition of the Heartland term facility and lower capitalized interest resulting from lower construction activity compared to the same period in 2024.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(37</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower distributions paid to subsidiaries&#8217;
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests relating to lower TA Cogen net earnings resulting from lower merchant pricing in the Alberta market.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower current income tax expense due to the increase in loss before income taxes in 2025
compared to earnings before income taxes in the same period in 2024.</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">66</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other <FONT STYLE="white-space:nowrap">non-cash</FONT> items<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="2" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.22em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP>
for the nine months ended Sept. 30, 2025</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>421</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net interest expense is a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure, is not
defined and has no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for
more information regarding this measure. The most directly comparable IFRS measure is interest expense of $266&nbsp;million for the nine months ended Sept. 30, 2025 (Sept. 30, 2024 &#8212; $232 million). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other <FONT STYLE="white-space:nowrap">non-cash</FONT> items consist of contract liabilities,
onerous contracts and long-term incentive accruals. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other consists primarily of lower realized foreign exchange losses, higher decommissioning and
restoration costs settled, and higher provisions accrued. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">FCF is a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure, is not defined and has no
standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more
information regarding this measure. The most directly comparable IFRS measure is cash flow from operations, which was $415&nbsp;million and $581&nbsp;million for the nine months ended Sept. 30, 2025 and 2024, respectively. Refer to the Cash Flows
section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M19</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_6"></A>2025 Outlook </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is tracking towards the <FONT STYLE="white-space:nowrap">low-end</FONT> of its Adjusted EBITDA guidance and the <FONT
STYLE="white-space:nowrap">mid-point</FONT> of FCF and FCF per share guidance. The following table outlines our expectations on key financial targets and related assumptions for 2025 and should be read in conjunction with the narrative discussion
that follows and the Governance and Risk Management section of this MD&amp;A: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="56%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="21%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="21%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Measure</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025 Target<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024 Actual<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT COLOR="#636466">$1,150&nbsp;to&nbsp;$1,250&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT COLOR="#636466">$1,255&nbsp;million</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;FCF<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT COLOR="#636466">$450 to $550&nbsp;million</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT COLOR="#636466">$569 mllion</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;FCF per
share<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT COLOR="#636466">$1.51 to $1.85</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT COLOR="#636466">$1.88</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Dividend per
share</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$0.26 annualized</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$0.24 annualized</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures, which are not defined and
have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Reconciliation of <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures section of this MD&amp;A for further
discussion of these items, including, where applicable, reconciliations to measures calculated in accordance with IFRS. See also the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Represents forward-looking information. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The actual 2024 amounts for the most directly comparable IFRS measures for Adjusted EBITDA and
FCF were as follows: Earnings before income taxes $319&nbsp;million and Cash flow from operating activities $796&nbsp;million. The most directly comparable IFRS ratio to FCF per share is cash flow from operating activities per share of $2.64, which
is calculated as cash flow from operating activities for the period divided by weighted average number of common shares outstanding during the period. Refer to the Additional IFRS Measures and <FONT STYLE="white-space:nowrap">Non-IFRS</FONT>
Measures section of the 2024 Annual MD&amp;A for additional information. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s outlook for 2025 may be impacted by a number of factors as detailed further below. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>Range of key 2025 power and gas price assumptions </B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="66%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="33%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Market</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025 Assumptions</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Alberta spot ($/MWh)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT COLOR="#636466">$40 to $60</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">&#8201;Mid-Columbia</FONT> spot
(US$/MWh)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT COLOR="#636466">$50 to $70</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;AECO gas price
($/GJ)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$1.60 to $2.10</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Alberta spot price sensitivity: a +/- $1 per MWh change in spot price is expected to have a
+/-$2&nbsp;million impact on adjusted EBITDA for the balance of the year. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#171a5f"><B>Other assumptions relevant to the 2025 outlook
</B></FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="66%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="33%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Measure</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025 Expectations</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Energy Marketing gross margin</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT COLOR="#636466">$110 to $130&nbsp;million</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Sustaining capital</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT COLOR="#636466">$145 to $165&nbsp;million</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Current income tax expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><FONT COLOR="#636466">$95 to $130&nbsp;million</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Net interest
expense<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">$255 to $275&nbsp;million</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Net interest expense is a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure, is not defined
and has no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. The most directly comparable IFRS measure is total interest expense, which was $324&nbsp;million for the year ended Dec. 31, 2024.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M20</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3%; text-indent:-2%; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Alberta Hedging </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="64%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" NOWRAP STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8201;Range of hedging assumptions</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q4&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Full&nbsp;Year&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:4pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Full&nbsp;Year&nbsp;2026</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Hedged production (GWh)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">1,898</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">8,661</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">7,813</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Hedge price ($/MWh)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">$72</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">$69</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">$66</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Hedged gas volumes (GJ)</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">10.7&nbsp;Million</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">46.2&nbsp;Million</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#636466">30.9&nbsp;Million</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Hedge gas prices
($/GJ)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">$3.28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">$2.91</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">$3.37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Refer to the 2025 Outlook section in our 2024 Annual MD&amp;A for further details
relating to our Outlook and related assumptions.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Liquidity and Capital Resources </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We maintain adequate available liquidity under our committed credit facilities. As at Sept. 30, 2025, we had access to
$1.6&nbsp;billion in liquidity, including $211&nbsp;million in cash, which exceeds the funds required for committed growth, sustaining capital and productivity projects.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M21</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_7"></A>Segmented Financial Performance and Operating
Results </B></FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Segmented information is prepared on the same basis that the Company manages its business, evaluates
financial results and makes key operating decisions. The following table reflects the summary financial information on a consolidated basis for the three and nine months ended Sept. 30: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="58%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="7" ALIGN="center"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="7" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>73</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">89</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>246</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">259</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind and Solar</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>236</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">221</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>110</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">141</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>342</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">408</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Energy Transition</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>84</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">63</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Energy Marketing</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">120</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Corporate</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(115</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(98</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>238</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">315</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>857</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">973</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>Adjusted earnings before income taxes<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>167</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">358</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>(Loss) earnings before income taxes</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">370</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>Adjusted net (loss) earnings attributable to common shareholders<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">233</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Net (loss) earnings attributable to common shareholders</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(128</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">242</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures, which are not defined, have
no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more
information regarding these measures. The most directly comparable IFRS measure to Adjusted EBITDA and Adjusted earnings before income taxes is (loss) earnings before income taxes. The most directly comparable IFRS measure to Adjusted net (loss)
earnings attributable to common shareholders is Net (loss) earnings attributable to common shareholders. Refer to Reconciliation of <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures on a Consolidated Basis by Segments section of this
MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#636466"><B>Three months ended Sept. 30, 2025 Variance Analysis (2025 versus 2024) </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted earnings before income taxes for the three months ended Sept. 30, 2025 decreased by $85&nbsp;million, or 83&nbsp;per cent,
compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The factors causing lower adjusted EBITDA described in the Adjusted EBITDA section of this
MD&amp;A; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher realized foreign exchange losses due to unfavourable foreign currency rates.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted net (loss) earnings attributable to common shareholders for the three months ended Sept. 30,
2025 decreased by $43&nbsp;million, or 123&nbsp;per cent, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The factors causing lower adjusted earnings before income taxes described above; partially offset
by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower income tax expense due to lower earnings compared to the same period in 2024; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower calculated tax expense on adjustments and reclassifications compared to the same period in
2024. </FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Loss before income taxes for the three months ended Sept. 30, 2025, increased by
$62&nbsp;million, compared to earnings before income taxes in the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower adjusted earnings before income taxes noted above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher asset impairment charges, net of impairment reversals, related to the Wind and Solar
facilities driven by changes in expected production volumes and price assumptions; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower asset impairment charges related to changes in decommissioning and restoration provisions on
retired assets; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized foreign exchange gains due to favourable changes in foreign currency rates; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains recorded in the Gas, Energy Marketing and Hydro segments primarily related to the favourable changes in forward prices.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M22</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Net loss attributable to common shareholders for the three months ended Sept. 30,
2025, increased by $26&nbsp;million from net loss attributable to common shareholders for the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The factors causing higher loss before income taxes above; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower income tax expense due to lower earnings compared to the same period in 2024; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher net loss attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests
compared to the same period in 2024, primarily due to lower net earnings for TA Cogen resulting from lower merchant pricing in the Alberta market. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#636466"><B>Nine months ended Sept. 30, 2025 Variance Analysis (2025 versus 2024) </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted earnings before income taxes for the nine months ended Sept. 30, 2025 decreased by $191&nbsp;million, or 53&nbsp;per cent,
compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The factors causing lower adjusted EBITDA described in the Adjusted EBITDA section of this
MD&amp;A; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher depreciation and amortization due to the addition of the Heartland gas facilities in
December 2024 and the impact from the White Rock and Horizon Hill wind facilities which achieved commercial operation in the first half of 2024; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher interest expense due to higher interest on debt driven by the addition of Heartland term
credit facility, lower capitalized interest resulting from lower construction activity in the current period compared to the same period in 2024 and higher accretion of provisions in the current period. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted net earnings attributable to common shareholders for the nine months ended Sept. 30, 2025 decreased by $157&nbsp;million,
or 67&nbsp;per cent, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The factors causing lower adjusted earnings before income taxes described above; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher calculated tax expense on adjustments and reclassifications compared to the same period in
2024; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower income tax expense due to lower earnings compared to the same period in 2024, partially
offset by higher valuation allowance on U.S. operations; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Net loss attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests in the
current period compared to net earnings in the same period of 2024.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Loss before income taxes for the nine months ended Sept. 30, 2025 increased by
$469&nbsp;million, or 127&nbsp;per cent, from earnings before income taxes for the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses recorded in the Wind and Solar segment primarily related to long-term wind energy sales related to the Garden Plain and Oklahoma facilities,
partially offset by unrealized <FONT STYLE="white-space:nowrap">mark-to-market</FONT> gains related to the Big Level facility; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses recorded in the Gas and Energy Transition segments driven by unfavourable hedging positions in the current period; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The factors causing lower adjusted earnings before income taxes noted above;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An impairment charge on Required Divestiture assets classified as Assets Held for Sale;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spending related to the planning, design and implementation of an ERP system upgrade;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher asset impairment charges due to an increase in decommissioning and restoration provisions on
retired assets driven by lower discount rates; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An impairment charge, net of impairment reversals related to certain Wind and Solar facilities due
to changes in expected production volumes and price assumptions; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An impairment reversal related to certain energy transition assets reclassified to assets held for
sale. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Net loss attributable to common shareholders for the nine months ended Sept. 30, 2025 increased
by $370&nbsp;million, or 153&nbsp;per cent, compared to net earnings attributable to common shareholders for the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The factors causing higher loss before income taxes above; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower income tax expense due to lower earnings compared to the same period in 2024, partially
offset by higher valuation allowance on U.S. operations in the current period; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher net loss attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests
compared the same period in 2024, primarily due to lower net earnings for TA Cogen resulting from lower merchant pricing in the Alberta market.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M23</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Hydro </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="48%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="15" ALIGN="center"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="15" ALIGN="center"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;&nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>Gross installed capacity (MW)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>922</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>922</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>922</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>922</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>LTA generation (GWh)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>573</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>573</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,568</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,568</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>Availability (%)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>82.9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>94.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(11.4</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(12)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>91.1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>92.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1.2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>Production</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contract production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>72</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>27</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>38&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>276</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>196</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>80</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>41&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Merchant production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>524</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>422</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>102</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>24&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,302</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,075</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>227</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>21&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>Total energy production (GWh)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>623</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>494</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>129</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>26&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,578</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,271</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>307</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>24&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Ancillary service volumes (GWh)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>674</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>878</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(204</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(23)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,173</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2,238</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(65</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(3)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Alberta Hydro Assets revenues<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(3)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>103</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>111</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(8</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(7)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Other Hydro Assets revenues and other Hydro revenues<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>11</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>100&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>46</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>13</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>39&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Alberta Hydro Assets ancillary services revenues<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>32</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(16</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(33)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>108</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(23</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(21)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Environmental and tax attributes revenues</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(8</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(100)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>70</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>61</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>15&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>Adjusted revenues<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>106</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(14</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(13)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>304</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>313</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(3)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Fuel and purchased power</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>25&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>23&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Adjusted gross margin<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>87</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>102</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(15</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(15)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>288</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>300</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(12</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(4)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">OM&amp;A</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>8&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>3&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>73</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>89</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(16</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(18)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>246</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>259</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(13</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(5)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>13&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>13&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Adjusted earnings before income taxes<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>81</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(17</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(21)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>220</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>236</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(16</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(7)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Earnings before income taxes</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>67</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(13</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(16)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>226</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>239</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(13</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(5)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>Supplemental Information:</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Gross revenues per MWh</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alberta Hydro Assets revenues ($/ MWh)<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>73</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(19</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(21)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>79</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>103</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(24</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(23)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Alberta Hydro Assets ancillary services
revenues ($/MWh)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>47</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(8</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(15)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(19)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Alberta Hydro Assets ancillary services revenues is a supplementary financial measure. Alberta
Hydro Assets ancillary services revenues are revenues earned from providing 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 as described in the AESO Consolidated Authoritative Document Glossary. Revenues per MWh are calculated by dividing Alberta Hydro Assets ancillary services revenues by ancillary service volumes in MWh. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Alberta Hydro Assets revenues is a supplementary financial measure and is comprised of revenues
from 13 hydro facilities on the Bow and North Saskatchewan river systems, as well as revenues from swaps and forward hedges. Revenues per MWh are calculated by dividing Alberta Hydro revenues by merchant production in MWh.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other Hydro Assets revenues is a supplementary financial measure and consists of revenues from
our hydro facilities in British Columbia, Ontario and Alberta (other than the Alberta Hydro Assets). Other Hydro revenues is a supplementary financial measure and includes revenues from our transmission business and other contractual arrangements,
including the flood mitigation agreement with the Government of Alberta and black start services. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M24</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Adjusted revenues, adjusted gross margin, adjusted EBITDA and adjusted earnings before income taxes
are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the
<FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more information regarding these measures. The most directly comparable IFRS measure to adjusted revenues is revenues of
$95&nbsp;million and $310&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $105&nbsp;million and $316 million), to adjusted gross margin &#8212; gross margin of $90&nbsp;million and
$294&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $101&nbsp;million and $303 million), to Adjusted EBITDA and Adjusted earnings before income taxes &#8212; earnings before income taxes of
$67&nbsp;million and $226&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $80&nbsp;million and $239 million). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the three months ended Sept. 30, 2025 decreased compared to the
same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower ancillary services revenue due to lower availability and production optimization between the
Gas and Hydro segments; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower environmental and tax attributes revenue due to lower sales of emission credits to third
parties; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower spot power prices in the Alberta market; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher merchant and contract volumes; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher regulated transmission revenues related to the reimbursement of costs incurred in prior
periods. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA and Adjusted earnings before income taxes for the three months ended Sept.
30, 2025 decreased compared to the same period in 2024, primarily due to lower adjusted revenues as explained by the factors above. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Earnings before income taxes for the three months ended Sept. 30, 2025 decreased compared to the same period in 2024 due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower adjusted earnings before income taxes; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains due to favourable forward pricing changes.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the nine months ended Sept. 30, 2025 decreased compared to the
same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower ancillary services revenue due to lower availability and production optimization between the
Gas and Hydro segments; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower spot power prices in Alberta; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher merchant and contract volumes; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher regulated transmission revenues related to the reimbursement of costs incurred in prior
periods; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher environmental and tax attributes revenues due to increased intercompany sales of emission
credits to the Gas segment to fulfill our 2024 GHG obligation; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher volume of favourable hedge positions settled, which generated positive contributions over
settled spot prices in Alberta. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA and Adjusted earnings before income taxes for the nine
months ended Sept. 30, 2025 decreased compared to the same period in 2024, primarily due to lower adjusted revenues as explained by the factors above. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Earnings before income taxes for the nine months ended Sept. 30, 2025 decreased compared to the same period in 2024 due to lower
adjusted earnings before income taxes. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For further discussion on the Alberta market conditions and pricing, refer to the
Optimization of the Alberta Portfolio section of this MD&amp;A. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M25</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Wind and Solar </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="52%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="padding-bottom:2pt ;"><FONT COLOR="#171a5f"><B>3 months ended&nbsp;Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="padding-bottom:2pt ;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="8"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Gross installed capacity (MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,587</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,584</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,587</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,584</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;LTA generation (GWh)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,472</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,472</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,282</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4,701</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>581</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>12&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Availability (%)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>94.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>93.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>0.6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>94.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>93.8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>0.5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Production</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contract production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>897</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>949</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(52</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(5)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,799</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3,251</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>548</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>17&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Merchant production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>131</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>172</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(41</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(24)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>647</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>867</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(220</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(25)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Total production (GWh)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,028</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,121</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(93</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(8)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,446</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>4,118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>328</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>8&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Revenues<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>65</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>2&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>274</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>258</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>16</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>6&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Environmental and tax attributes revenues<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>38&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>83</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>61</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>22</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>36&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted revenues<SUP STYLE="font-size:75%; vertical-align:top">(3)(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>83</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>77</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>8&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>357</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>319</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>38</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>12&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Fuel and purchased power</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>9&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Carbon compliance</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted gross margin<SUP STYLE="font-size:75%; vertical-align:top">(3)(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>72</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>8&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>331</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>297</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>34</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>11&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;OM&amp;A</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>8&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(82</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(70</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(12</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>17&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Taxes, other than income taxes</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>15&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Adjusted net other operating income<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(100)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(71)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(3)(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>44</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>2&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>236</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>221</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>15</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>7&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(2)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(157</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(143</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(14</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>10&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted (loss) earnings before income taxes<SUP
STYLE="font-size:75%; vertical-align:top">(3)(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(22)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>79</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>1&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;(Loss) earnings before income taxes<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(106</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(82</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(24</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>29&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(127</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(134</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(1914)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gross installed capacity for 2025 increased due to the transmission adjustments for the White
Rock East and Horizon Hill wind facilities of 2 MW each and Tower removal at Sinott in December 2024, which reduced gross installed capacity by 1 MW. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Production Tax Credits related to the U.S. wind facilities that are subject to tax equity
financing arrangements are excluded from Environmental and tax attributes revenues line and included under Revenues line. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted revenues, adjusted gross margin, adjusted net other operating income, adjusted EBITDA
and adjusted (loss) earnings before income taxes are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers.
Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more information regarding these measures. The most directly comparable IFRS measure to adjusted revenues is revenues of
$(1) million and $155&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $(1) million and $239 million), to adjusted gross margin &#8212; gross margin of $6&nbsp;million and $129&nbsp;million for
the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024&#8212; $(6) million and $217 million), to adjusted net other operating income &#8212; net other operating income of nil and $4&nbsp;million for the three and nine months
ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $3&nbsp;million and $7 million), to adjusted EBITDA and adjusted earnings before income taxes &#8212; loss before income taxes of $106&nbsp;million and $127&nbsp;million for the three and
nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; loss before income taxes of $82&nbsp;million and earnings before income taxes of $7 million). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">(Loss) earnings before income taxes exclude the contribution from Skookumchuck wind facility.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M26</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the three months ended Sept. 30, 2025 increased compared to the
same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher environmental and tax attributes revenue driven by an increase in sales of emission credits
to third parties; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable pricing for Oklahoma facilities; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower wind resource across Canada and United States. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the three months ended Sept. 30, 2025 was comparable to the same period in 2024 primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher adjusted revenue; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower net other operating income due to no liquidated damages recognized in the current period.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted loss before income taxes for the three months ended Sept. 30, 2025 was comparable to the same
period in 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Loss before income taxes for the three months ended Sept.&nbsp;30, 2025 increased compared to in the
same period in 2024 due to an impairment charge, net of impairment reversals on certain facilities driven by changes in expected production volumes and price assumptions. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the nine months ended Sept. 30, 2025 increased compared to the same period in 2024, primarily due to:
</FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The impact from the White Rock and Horizon Hill wind facilities which achieved commercial operation
in the first half of 2024; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher environmental and tax attributes revenues due to the increased sales of emission credits to
third parties and intercompany sales to the Gas segment; and
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production volumes in Eastern Canada due to higher wind resource; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower Alberta spot power prices; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower production volumes in Alberta due to lower wind resource. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the nine months ended Sept. 30, 2025 increased compared to the same period in 2024, primarily due to:
</FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher adjusted revenues as explained by the factors above; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher OM&amp;A mainly due to the addition of new wind facilities in the first half of 2024.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted earnings before income taxes for the the nine months ended Sept. 30, 2025 were comparable to
the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher adjusted EBITDA as explained above; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher depreciation and amortization due to the addition of new wind facilities in the first half
of 2024. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Loss before income taxes for the nine months ended Sept.&nbsp;30, 2025 increased from
earnings before income taxes in the same period in 2024 due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses on the long-term wind energy sales related to the Garden Plain and Oklahoma facilities, partially offset by unrealized <FONT
STYLE="white-space:nowrap">mark-to-market</FONT> gains related to the Big Level facility; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher impairment charges, net of reversals, recognized for certain facilities due to changes in
expected production volumes and lower power price assumptions; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher adjusted earnings before income taxes as explained above.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M27</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Gas </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="48%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="padding-bottom:2pt ;"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="padding-bottom:2pt ;"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="8"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Gross installed capacity (MW)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,834</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3,087</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1,747</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>57&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,834</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3,087</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1,747</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>57&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Availability (%)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>95.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>96.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(0.9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>93.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>95.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1.7</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(2)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Production</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contract sales volume (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,337</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,603</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>734</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>46&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7,084</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4,942</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>2,142</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>43&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Merchant sales volume (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,402</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,736</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(334</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(19)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,274</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5,189</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1,915</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(37)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Purchased power
(GWh)<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(225</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(220</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>2&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(854</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(689</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(165</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>24&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Total production (GWh)</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;3,514</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>3,119</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>395</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>13&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8195;9,504</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>9,442</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>62</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>1&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted revenues<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>321</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>317</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>4</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>969</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>963</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Adjusted fuel and purchased power<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(120</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(100</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(20</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>20&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(386</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(339</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(47</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>14&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Carbon compliance</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(13)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(106</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>30</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(28)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted gross margin<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>166</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>177</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(11</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(6)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>507</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>518</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(11</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(2)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Adjusted OM&amp;A<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(43</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(19</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>44&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(183</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(131</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(52</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>40&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Taxes, other than income taxes</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>67&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>67&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Net other operating income</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>10&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>10&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(3)(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>110</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>141</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(31</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(22)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>342</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>408</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(66</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(16)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(7</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>13&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(197</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(163</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(34</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>21&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted earnings before income taxes<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>89</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(38</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(43)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>145</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>245</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(100</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(41)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Earnings before income taxes</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>63</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>88</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(25</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(28)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>105</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>318</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(213</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(67)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Gross installed capacity and availability for 2025 include the 1,747 MW Heartland gas facilities and
exclude the Required Divestitures. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="left"><FONT COLOR="#171a5f">Power required to fulfil contractual obligations is included in purchased power.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted revenues, adjusted fuel and purchased power, adjusted gross margin, adjusted OM&amp;A,
adjusted EBITDA and adjusted earnings before income taxes are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other
issuers. The most directly comparable IFRS measure to adjusted revenues is revenues of $326&nbsp;million and $920&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $314&nbsp;million and $1,031
million), to adjusted fuel and purchased power &#8212; fuel and purchased power of $119&nbsp;million and $388&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $100&nbsp;million and $339 million),
to adjusted gross margin &#8212; gross margin of $172&nbsp;million and $456&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $174&nbsp;million and $586 million), to adjusted OM&amp;A &#8212;
OM&amp;A of $64&nbsp;million and $188&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $43&nbsp;million and $131 million), to adjusted EBITDA and adjusted earnings before income taxes &#8212;
earnings before income taxes of $63&nbsp;million and $105&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $88&nbsp;million and $318 million). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M28</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the three months ended Sept. 30, 2025 increased compared to the
same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Addition of gas facilities from Heartland; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher ancillary revenue due to production optimization between the Gas and Hydro segments; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable hedge positions settled, which generated positive contributions over settled spot prices
in Alberta; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher dispatch optimization due to lower market prices driven by milder weather and new gas
generation in Alberta; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower spot power prices in the Alberta market. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the three months ended Sept. 30, 2025 decreased compared to the same period in 2024, primarily due to:
</FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher fuel costs, carbon compliance cost and OM&amp;A related to the addition of the Heartland
facilities; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price from $80 to $95 per tonne, impacting gross margin from our Canadian
gas facilities; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher adjusted revenues as explained by the factors above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable impact on carbon compliance cost due to an increase of production from lower
carbon-emitting cogeneration facilities. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted earnings before income taxes for the three months
ended Sept. 30, 2025 decreased compared to the same period in 2024 due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower adjusted EBITDA as explained above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher depreciation due to the addition of the Heartland facilities. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Earnings before income taxes for the three months ended Sept. 30, 2025 decreased due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower adjusted earnings before income taxes compared to the same period in 2024; partially offset
by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains due to favourable hedges in the current period compared to the same period in 2024. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the nine months ended Sept. 30, 2025 increased compared to the same period in 2024, primarily due to:
</FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Addition of gas facilities from Heartland; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable hedge positions settled, which generated positive contributions over settled spot prices
in Alberta; and </FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher ancillary revenue due to production optimization between the Gas and Hydro segments;
partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher dispatch optimization due to lower market prices driven by milder weather and new gas
generation in Alberta; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower spot power prices in the Alberta market. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the nine months ended Sept. 30, 2025 decreased compared to the same period in 2024, primarily due to:
</FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher fuel costs, carbon compliance cost and OM&amp;A related to the addition of the Heartland
facilities; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price from $80 to $95 per tonne, impacting gross margin from our Canadian
gas facilities; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">A reduction to carbon compliance costs by using internally generated and externally purchased
emission credits in the current period compared to the same period of prior year to settle a portion of our 2024 GHG obligation and a portion of the GHG obligation assumed in the Heartland acquisition; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher adjusted revenues as explained by the factors above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable impact on carbon compliance cost due to an increase of production from lower
carbon-emitting cogeneration facilities. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted earnings before income taxes for the nine months
ended Sept. 30, 2025 decreased compared to the same period in 2024 due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower adjusted EBITDA as explained above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher depreciation due to the addition of the Heartland facilities. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Earnings before income taxes for the nine months ended Sept.&nbsp;30, 2025 decreased due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses due to less favourable hedges in the current period compared to the same periods in 2024; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower adjusted earnings before income taxes compared to the same period in 2024; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An impairment charge on the Required Divestitures recognized in the first quarter of 2025;
partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Fair value gain on the contingent consideration payable driven by updated expected sale proceeds
related to the Required Divestitures; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher lease income due to the addition of finance leases from the Heartland acquisition.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M29</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Energy Transition </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="50%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="8"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Gross installed capacity
(MW)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Availability (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>83.3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>90.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(6.7</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(7)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>87.2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>76.1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>11.1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>15&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Production</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Contract sales volume (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>662</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>840</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(178</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(21)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,965</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,499</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(534</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(21)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Merchant sales volume (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,130</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,087</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>43</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>4&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,516</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,064</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>452</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>22&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Purchased power
(GWh)<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(806</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(949</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>143</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(15)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2,213</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2,782</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>569</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(20)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Total
production (GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>986</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>978</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>8</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>1&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,268</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,781</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>487</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>27%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Adjusted revenues<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>148</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>157</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(6)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>389</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>433</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(44</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(10)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(98</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(104</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(6)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(247</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(316</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>69</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(22)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Carbon compliance</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(100)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Adjusted
gross margin<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(2</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(4)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>142</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>116</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>26</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>22&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>18%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(5</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>10&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>100%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>100&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(18)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>84</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>63</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>21</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>33&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">&#8201;Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(35)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(48</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>9</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(19)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8201;Adjusted earnings before income &#8201;taxes<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>30</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>200&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Earnings
before income taxes</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>15</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>188&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>19</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>61&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>&#8201;Supplemental information:</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Highvale mine reclamation
spend<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Centralia mine reclamation spend<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(20)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">All of the power produced by Centralia is sold by the Energy Marketing segment for physical
market delivery, which is shown as merchant sales volumes. Power required to fulfil contractual obligations is included in purchased power. Total production from the facility includes the net result of merchant sales volumes and purchased power.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted revenues, adjusted gross margin, adjusted EBITDA and adjusted earnings before income
taxes are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. The most directly comparable IFRS measure to
adjusted revenues is revenues of $158&nbsp;million and $385&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $165&nbsp;million and $461 million), to adjusted gross margin &#8212; gross margin
$60&nbsp;million and $138&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept.&nbsp;30, 2024 &#8212; $60&nbsp;million and $144 million), to adjusted EBITDA and adjusted earnings before income taxes &#8212; earnings
before income taxes of $23&nbsp;million and $50&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $8&nbsp;million and $31 million). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Highvale and Centralia mine reclamation spend, which represent the costs necessary to bring the
sites to their original condition, are supplementary financial measures and are included in the Decommissioning and restoration liabilities settled during the period in the consolidated statements of financial position under IFRS.
</FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the three months ended Sept. 30, 2025 decreased compared to the
same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower <FONT STYLE="white-space:nowrap">Mid-Columbia</FONT> prices; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher volume of favourable hedge positions settled. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the three months ended Sept. 30, 2025 decreased compared to the same period in 2024, primarily due to:
</FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower adjusted revenues as explained above; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower purchased power costs due to fewer repurchases to fulfill contractual obligations during
outages. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted earnings before income taxes for the three months ended Sept. 30, 2025 were
comparable to the same period in 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Earnings before income taxes for the three months ended Sept. 30, 2025 increased
compared to the same period in 2024 due to lower asset impairment charges related to changes in decommissioning and restoration provision on retired assets. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Mine reclamation spend for the three months ended Sept. 30, 2025 was consistent with the same period in 2024. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues for the nine months ended Sept. 30, 2025 decreased compared to the same period in 2024, primarily due to:
</FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower <FONT STYLE="white-space:nowrap">Mid-Columbia</FONT> prices; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable hedge positions settled, which generated positive contributions over settled spot
prices. </FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the nine months ended Sept. 30, 2025 increased compared to the
same period in 2024 due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower purchased power costs driven by higher availability, which resulted in fewer repurchases to
fulfill contractual obligations during outages; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower adjusted revenues as explained above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher OM&amp;A related to community fund spending. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted earnings before income taxes for the nine months ended Sept. 30, 2025 increased compared to the same period in 2024 due to
higher adjusted EBITDA as explained above. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Earnings before income taxes for the nine months ended Sept. 30, 2025
increased compared to the same period in 2024 due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher adjusted earnings before income taxes as explained above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Impairment reversal related to generation equipment in the current period; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> losses due to less favourable hedges in the current period; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher asset impairment charges related to an increase in decommissioning and restoration provision
on retired assets driven by lower discount rates. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Mine reclamation spend for the nine months ended
Sept. 30, 2025 was consistent with the same period in 2024. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M31</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Energy Marketing </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="54%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="padding-bottom:5pt ;"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="padding-bottom:5pt ;"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&#8199;Adjusted revenues<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(22</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(42)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>149</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(57</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(38)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;OM&amp;A</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>30&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(29</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(3)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(25</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(60)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>120</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(56</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(47)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8199;Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;&#8196;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Adjusted earnings before income taxes<SUP STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(25</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(60)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(56</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(47)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>&#8199;Earnings before income taxes</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(21</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(47)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>72</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>123</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(51</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(41)%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted revenues, adjusted EBITDA and adjusted earnings before income taxes are <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. The most directly comparable IFRS measure to adjusted revenues
for the three and nine months ended Sept. 30, 2025 is revenues of $37&nbsp;million and $102&nbsp;million, respectively (Sept. 30, 2024 &#8212; $55&nbsp;million and $154 million), to adjusted EBITDA and adjusted earnings before income taxes &#8212;
earnings before income taxes of $24&nbsp;million and $72&nbsp;million, respectively (Sept. 30, 2024&nbsp;&#8212;&nbsp;$45&nbsp;million and $123 million). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions. Therefore, the Company has applied this composition to all previously reported periods. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures
section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted revenues and Adjusted EBITDA for the three and nine months ended Sept. 30,
2025 decreased compared to the same periods in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Comparatively subdued market volatility across North American natural gas and power markets; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower realized trades in 2025 in comparison to the same periods in the prior year.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted earnings before income taxes for the three and nine months ended Sept. 30,
2025 decreased compared to the same periods in 2024 mainly due to lower adjusted revenues as explained above. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Earnings
before income taxes for the three and nine months ended Sept. 30, 2025 decreased compared to the same periods in 2024 due to lower adjusted earnings before income taxes.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M32</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Corporate </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="58%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center"><FONT COLOR="#171a5f"><B>9 months ended Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="8"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="8"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Change</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Adjusted OM&amp;A<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(113</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(97</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(16</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>16%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>100%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>100%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(115</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(98</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(17</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>17%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>20%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>7%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Equity income from associate</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>100%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Interest income</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>3</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>50%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>&#8212;%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Interest expense</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(87</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(86</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(1</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>1%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(270</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(235</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(35</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>15%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Realized foreign exchange (loss) gain<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(7</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(350%)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>4</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(57%)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#43c5e4"><B>Adjusted loss before income taxes<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(125</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(7</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>6%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(384</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(334</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>(50</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><I>15%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#43c5e4"><B>Loss before income taxes</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(124</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(130</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>6</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(5%)</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(425</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(348</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>(77</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>)&nbsp;</I></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><I>22%</I></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><I>&nbsp;</I></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted OM&amp;A, adjusted EBITDA and adjusted loss before income taxes are <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. The most directly comparable IFRS measure to adjusted OM&amp;A
for the three and nine months ended Sept. 30, 2025 is OM&amp;A of $41&nbsp;million and $135&nbsp;million, respectively (Sept. 30, 2024 &#8212; $35&nbsp;million and $105 million). The most directly comparable IFRS measure to adjusted EBITDA and
adjusted loss before income taxes is loss before income taxes of $124&nbsp;million and $425&nbsp;million for the three and nine months ended Sept. 30, 2025, respectively (Sept. 30, 2024 &#8212; $130&nbsp;million and $348 million).
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Realized foreign exchange (loss) gain is a supplementary financial measure consisting of foreign
exchange gains and losses related to the actual payment transactions. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more details. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the three months ended Sept. 30, 2025 was comparable to the same
period in 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted loss before income taxes for the three months ended Sept. 30, 2025 increased compared to the
same period in 2024 due to higher realized foreign exchange losses driven by unfavourable changes in foreign currency rates. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Loss before income taxes for the three months ended Sept.&nbsp;30, 2025 decreased compared to the same period in 2024 due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized foreign exchange gains driven by favourable changes in foreign currency rates;
partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher adjusted loss before income taxes as explained above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spending related to the implementation of an upgrade to our ERP system.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA for the nine months ended Sept. 30, 2025 decreased compared to the same period in 2024
primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increased spending to support strategic and growth initiatives; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The addition of corporate costs related to Heartland.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted loss before income taxes for the nine months ended Sept. 30, 2025 increased
compared to the same period in 2024 due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower Adjusted EBITDA as explained above; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher interest expense due to higher interest on debt driven by the addition of Heartland term
facility, lower capitalized interest resulting from lower construction activity during 2025 compared to the same period in 2024, and higher accretion of provisions in the current period. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Loss before income taxes for the nine months ended Sept.&nbsp;30, 2025 increased compared to the same period in 2024 due to:
</FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher adjusted loss before income taxes as explained above; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spending related to the planning, design and implementation of an upgrade to our ERP system;
and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher unrealized foreign exchange losses due to unfavourable changes in foreign currency rates.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M33</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_8"></A>Performance by Segment with Supplemental
Geographical Information </B></FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following tables provide adjusted EBITDA by segment across the regions we operate in:
</FONT></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30, 2025</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Alberta</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">103</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Canada, excluding Alberta</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">47</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>US</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">62</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Western Australia</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>73</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>110</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>238</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted earnings (loss) before income taxes<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(125</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Earnings (loss) before income
taxes</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>67</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(106</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>63</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(124</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Alberta</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">86</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">92</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">186</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Canada, excluding Alberta</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">37</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>US</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">66</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Western Australia</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">89</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8196;&#8196;&#8199;44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8201;141</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">315</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted earnings (loss) before income taxes<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">89</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(118</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Earnings (loss) before income
taxes</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(82</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">45</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(130</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA and adjusted earnings (loss) before income taxes are <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Loss before income taxes for the Wind and Solar segment exclude the contribution from
Skookumchuck wind facility. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M34</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="49%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30, 2025</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Alberta</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">235</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">181</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">64</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">(115</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">389</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Canada, excluding Alberta</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">95</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">187</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>U.S.</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">104</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">91</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">204</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Western Australia</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">71</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466">77</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>246</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>236</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>342</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>84</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(115</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>857</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted earnings (loss) before income taxes<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>220</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>79</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>145</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(384</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>167</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Earnings (loss) before income
taxes</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>226</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(127</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>105</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>72</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(425</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30, 2024</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Alberta</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">253</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">259</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">120</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(98</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">570</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Canada, excluding Alberta</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">72</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">158</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>U.S.</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">92</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">70</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">171</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Western Australia</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(1)(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">259</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">221</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">408</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">63</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">120</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(98</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">973</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted earnings (loss) before income taxes<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">236</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">78</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">245</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">118</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(334</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">358</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#ffffff"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Earnings (loss) before income
taxes</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">239</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">318</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">123</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">(348</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#ffffff" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff" ALIGN="right"><FONT COLOR="#636466">370</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#ffffff"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA and adjusted earnings (loss) before income taxes are <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Earnings (loss) before income taxes for the Wind and Solar segment exclude the contribution from
Skookumchuck wind facility. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_9"></A>Optimization of the Alberta Portfolio </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Alberta electricity portfolio metrics disclosed below are supplementary financial
measures used to present the detailed performance by segment for the Alberta market. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our merchant exposure is primarily
in Alberta, where 58&nbsp;per cent of our capacity is located, 77&nbsp;per cent of which is available to participate in the merchant market. Our portfolio of assets consists of hydro, wind, battery storage and natural gas generation facilities.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The acquisition of Heartland enhanced and further diversified TransAlta&#8217;s competitive portfolio in the highly
dynamic and shifting electricity landscape in Alberta, by adding 507 MW of contracted cogeneration capacity, 387 MW of contracted and merchant peaking generation capacity, 950 MW of merchant natural <FONT STYLE="white-space:nowrap">gas-fired</FONT>
thermal generation capacity and transmission capacity. We believe that the fast-ramping nature of certain Heartland facilities is well positioned to respond to price volatility and deliver
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
peaking capacity during periods of higher demand in the Alberta market. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Generating capacity in Alberta is subject to market forces. Power from commercial generation is cleared through a wholesale electricity market. Power is dispatched in accordance with an economic merit order administered by the AESO,
based upon offers by generators to sell power in the real-time energy-only market. Our merchant Alberta fleet operates under this framework and we internally manage our offers to sell power. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Optimization of portfolio performance in the Alberta merchant market is driven by the diversity of fuel types, which enables
portfolio management. It also provides us with capacity that can be monetized as either energy production or ancillary services. A significant portion of the installed generation capacity in the portfolio has been hedged to provide greater cash flow
certainty. The Company&#8217;s hedging strategy includes maintaining a </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M35</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">significant base of Commercial and Industrial (C&amp;I) customers and is supplemented
with financial hedges. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During periods of low market prices, the Company may choose not to generate power from the
thermal fleet and monetize its hedged or contract positions. This results in a change in revenue that is not correlated with a change in production. During the year, there were periods of low market prices, and the Company opted not to generate
production from its thermal fleet, which resulted in thermal generation sold through C&amp;I contracts and financial hedges exceeding the actual merchant production generated.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Alberta hydro and gas fleets provide ancillary services. The hydro fleet also
provides grid reliability products such as black start services. These services are provided in the event of a system-wide blackout in the province, as well as drought mitigation by systematically regulating river flows. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our Alberta wind and hydro fleets provide a steady stream of environmental credits that the Company sells to third parties and
intercompany to the Gas segment. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table provides information for the Company&#8217;s Alberta electricity portfolio: </FONT></P> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="46%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Gross installed capacity
(MW)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>834</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>764</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,650</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,248</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">834</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">766</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,963</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,563</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total production<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP>
(GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>524</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>245</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,437</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,206</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">422</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">332</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,014</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,768</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.86em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Contract production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>114</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,345</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,459</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">160</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">529</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">689</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.86em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Merchant production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>524</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>131</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,092</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,747</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">422</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">172</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,485</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,079</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Hedged volumes (GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>393</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,105</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,516</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">159</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,184</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,365</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Production contracted or hedged (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>75</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>54</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>142</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;%</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>124</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">135</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">110</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Hedged volumes as a percentage of gross
installed capacity (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;%</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">51</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="25"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted revenues<SUP STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP>
($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>86</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>198</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1&#8201;&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>300</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">101</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">215</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">331</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Fuel ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>70</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>74</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">69</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Purchased power ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Carbon compliance cost<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP> ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted gross margin<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP> ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>83</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>86</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1&#8201;&#8199;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>182</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">98</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">104</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">215</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total production includes contract and merchant production. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Revenues have been adjusted to exclude the impact of unrealized <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains or losses. During the first quarter of 2025, our Adjusted revenues and adjusted gross margin composition was amended to exclude the impact of realized gain (loss) on closed exchange
positions. Therefore, the Company has applied this composition to all previously reported periods. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The intercompany sales of emission credits from the Hydro and Wind and Solar segments to the Gas
segment are eliminated on consolidation in the Corporate segment. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gross installed capacity for Wind and Solar was reduced due to tower removal at Sinott.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gross installed capacity for Alberta facilities in 2025 includes 1,687 MW from the acquisition of
Heartland and excludes capacity from the Required Divestitures. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Three months ended Sept. 30, 2025 Variance Analysis (2025 versus 2024)
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total production for the Alberta portfolio for the three months ended Sept. 30, 2025 was 3,206 GWh compared
to&nbsp;2,768 GWh in the same period of 2024. The increase of 438 GWh, or 16&nbsp;per cent was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher contract production in the Gas segment due to the&nbsp;addition of Heartland gas facilities
in the fourth quarter&nbsp;of 2024; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production from the Hydro segment due to the optimization of water supply to facilitate
generation during higher demand periods; partially offset by
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower merchant production in the Gas segment due to dispatch optimization driven by lower market
prices; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower production volumes in the Wind and Solar segment due to lower wind resource in Alberta.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Hedged volumes for the three months ended Sept. 30, 2025 increased compared to the same period in 2024
in anticipation of the weakening spot market prices. Realized gains and losses on financial hedges are included in adjusted revenues in the table above. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted gross margin for the Alberta portfolio for the three months ended Sept. 30, 2025 was $182&nbsp;million compared
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M36</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">to $215&nbsp;million in the same period of 2024. The decrease of $33&nbsp;million, or
15&nbsp;per cent, was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The impact of lower Alberta spot prices; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower merchant production in the Gas segment due to higher dispatch optimization driven by lower
market prices; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price per tonne from $80 in 2024 to $95 in 2025; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower gains realized on financial hedges; partially offset by </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Positive contribution from the addition of the Heartland facilities in the Gas segment;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production in the Hydro segment due to higher water reserves in Alberta due to higher
precipitation during the quarter; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable impact on carbon compliance cost due to an increase of production from lower
carbon-emitting cogeneration facilities. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="40%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas<SUP STYLE="font-size:75%; vertical-align:top">(5)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Gross installed capacity
(MW)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>834</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>764</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,650</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,248</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">834</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">766</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,963</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,563</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total production<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP>
(GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,302</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,242</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,324</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8,868</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,076</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,362</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6,221</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8,659</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.86em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Contract production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>595</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,863</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,458</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">671</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,729</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.86em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Merchant production (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,302</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>647</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,461</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,410</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,076</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">691</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4,492</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6,259</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Hedged volumes (GWh)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>996</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>84</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,684</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,764</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">353</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">91</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5,997</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6,441</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Production contracted or hedged (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>151</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;%</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>127</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">33</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">56</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">124</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Hedged volumes as a percentage of
gross&nbsp;installed capacity (%)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;%</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>%&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">47</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;%</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="25"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD>
<TD HEIGHT="25" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted revenues<SUP STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP>
($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>285</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>79</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>594</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4&#8199;&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>962</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">298</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">644</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">4&#8199;&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,027</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Fuel ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>231</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>245</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">211</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">224</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Purchased power ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>49</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;&#8199;&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">54</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Carbon compliance costs<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP> ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;&#8199;&#8196;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">91</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1&#8199;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">92</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.43em; font-size:7pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted gross margin<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP> ($)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>272</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>273</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4&#8199;&#8201;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>615</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">287</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">71</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">296</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3&#8199;&#8201;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">657</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total production includes contract and merchant production. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Revenues have been adjusted to exclude the impact of unrealized <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains or losses. During the first quarter of 2025, our Adjusted revenues and gross margin composition was amended to exclude the impact of realized gain (loss) on closed exchange positions.
Therefore, the Company has applied this composition to all previously reported periods. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The intercompany sales of emission credits from the Hydro and Wind and Solar segments to the Gas
segment are eliminated on consolidation in the Corporate segment. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gross installed capacity for Wind and Solar was reduced due to tower removal at Sinott.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Gross installed capacity for Alberta facilities in 2025 includes 1,687 MW from the acquisition of
Heartland and excludes capacity from the Required Divestitures. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M37</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><B>Nine months ended Sept. 30, 2025 Variance Analysis (2025 versus 2024)
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total production for the Alberta portfolio for the nine months ended Sept. 30, 2025 was 8,868 GWh compared to 8,659
GWh in the same period of 2024. The increase of 209 GWh, or two per cent was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher contract production in the Gas segment due to the addition of Heartland gas facilities in
the fourth quarter of 2024; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production from the Hydro segment due to higher water resource and the optimization of water
supply to facilitate generation during higher demand periods; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower merchant production in the Gas segment due to higher dispatch optimization driven by lower
market prices; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower production volumes in the Wind and Solar segment due to lower wind resource compared to the
same period in 2024. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Hedged volumes for the nine months ended Sept. 30, 2025 increased compared to the
same period in 2024. The Company deployed a defensive strategy to increase financial hedges for the merchant portfolio at attractive margins in anticipation of the risk of lower prices in 2025. Realized gains and losses on financial hedges are
included in adjusted revenues in the table above.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted gross margin for the Alberta portfolio for the nine months ended Sept. 30,
2025 was $615&nbsp;million compared to $657&nbsp;million in the same period of 2024. The decrease of $42&nbsp;million, or six per cent, was primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The impact of lower Alberta spot and ancillary services prices; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower merchant production in the Gas segment due to higher dispatch optimization driven by lower
market prices; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher fuel costs in the Gas segment due to higher natural gas prices;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower favourable realized hedge positions; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price from $80 per tonne in 2024 to $95 per tonne in 2025; partially
offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Positive contribution from the addition of the Heartland facilities in the Gas segment;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower carbon compliance costs in the current period due to utilization of internally generated and
externally purchased emission credits in the current period compared to the same period of prior year to settle a portion of our 2024 GHG obligation and a portion of the GHG obligation assumed in the Heartland acquisition and favourable impact from
an increase in production from lower carbon-emitting cogeneration facilities; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher environmental and tax attributes revenue due to increased sales of emission credits to third
parties and intercompany sales from the Hydro and Wind and Solar segments to the Gas segment. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M38</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table provides information for the
Company&#8217;s Alberta electricity portfolio: </FONT></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="54%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Alberta Market</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Spot power price average per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>44</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">67</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Natural gas price (AECO) per GJ</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.63</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.67</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.43</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1.24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance price per tonne</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>95</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>95</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Alberta Portfolio Results</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Realized merchant power price per MWh<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>103</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">90</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>107</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">91</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hydro energy spot power price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">95</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hydro ancillary services price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>47</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Wind energy spot power price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.67em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gas spot power price per MWh</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>79</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">73</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hedged power price average per
MWh<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">85</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>69</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">86</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Hedged volume (GWh)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2,516</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2,365</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6,764</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6,441</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fuel cost per
MWh<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance cost per MWh<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Realized merchant power price per MWh for the Alberta electricity portfolio is a supplementary
financial measure and represents the average price realized as a result of the Company&#8217;s merchant power sales and portfolio optimization activities. It is calculated as merchant revenues (excluding assets under long-term contract and ancillary
revenues) for the reporting period divided by total merchant GWh produced during the reporting period. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Hedged power price average per MWh is a supplementary financial measure and is calculated as the
average sales price for all hedges and direct customer sales during the reporting period. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Fuel cost per MWh is a supplementary financial measure and is calculated as total fuel costs for
the facilities in Alberta divided by production from carbon-emitting generation in the Gas and Energy Transition segments. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Carbon compliance per MWh is a supplementary financial measure and is calculated as total carbon
compliance costs for the Gas and Energy Transition segments in Alberta divided by production from carbon-emitting generation in the Gas and Energy Transition segments. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M39</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The average spot power price per MWh for the Alberta portfolio for the three and nine
months ended Sept. 30, 2025 decreased from $55 and $67 per MWh, respectively, in 2024, to $51 and $44 per MWh, primarily due to the addition of increased supply from renewables and combined-cycle gas facilities into the market compared to the same
periods in 2024 and the impact of a milder weather on the nine months ended Sept. 30, 2025. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The realized merchant power
price per MWh of production for the Alberta portfolio for the three and nine months ended Sept. 30, 2025 increased by $13 and $16 per MWh, respectively, compared to the same periods in 2024, primarily due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable hedge positions settling in the current period and production optimization, which
generated positive contributions over settled spot prices in Alberta compared&nbsp;to the same periods in 2024; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower average spot power prices as explained above. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fuel cost per MWh for the three months ended Sept. 30, 2025 decreased by $4 per MWh, compared to the same period in 2024, due to
lower natural gas prices. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Fuel cost per MWh for the nine months ended Sept. 30, 2025 increased by $3 per MWh, compared
to the same period in 2024, due to higher natural gas prices.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Carbon compliance cost per MWh of production for the three months ended Sept. 30,
2025 decreased by $6 per MWh, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable impact on carbon compliance cost per MWh due to an increase of production from lower
carbon-emitting cogeneration facilities; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price per tonne from $80 in 2024 to $95 in 2025.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Carbon compliance cost per MWh of production for the nine months ended Sept. 30, 2025 decreased by $7
per MWh, compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Utilization of higher quantity of internally generated and externally purchased emission credits in
the current period compared to the same period of prior year to settle a portion of our 2024 GHG obligation and a portion of the GHG obligation assumed in the Heartland acquisition; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable impact on carbon compliance cost due to an increase of production from lower
carbon-emitting cogeneration facilities; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the carbon price per tonne from $80 in 2024 to $95 in 2025.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M40</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_10"></A>Selected Quarterly Information </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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, and 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
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
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></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="60%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q4&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q1&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q2&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q3&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Revenues</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">678</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">758</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">433</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>615</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Carbon compliance costs (recovery)</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">OM&amp;A</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">234</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">173</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">173</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">146</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">150</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>135</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">(Loss) earnings before income taxes</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(51</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(95</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Net (loss) earnings attributable to common shareholders</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">46</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(112</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Net (loss) earnings per share attributable to common shareholders, basic and diluted<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(0.22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(0.38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(0.20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Cash flow from operating activities</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">215</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">157</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>251</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="61%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q4&nbsp;2023</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q1&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q2&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Q3&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Revenues</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">624</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">947</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">582</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">638</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Carbon compliance costs (recovery)</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">OM&amp;A</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">150</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">134</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">144</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Depreciation and amortization</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">132</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">124</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">133</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">(Loss ) earnings before income taxes</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">267</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">94</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Net (loss) earnings attributable to common shareholders</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(84</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">222</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">56</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Net (loss) earnings per share attributable to common shareholders, basic and diluted<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(0.27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.72</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">0.18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(0.12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Cash flow from operating activities</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">310</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">244</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">108</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">229</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f"><SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP>&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Basic and diluted (loss) earnings per share attributable to common shareholders is calculated in
each period using the basic and diluted weighted average common shares outstanding during the period, respectively. As a result, the sum of the (loss) earnings per share for the four quarters making up the calendar year may sometimes differ from the
annual (loss) earnings per share. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Operating results have been impacted by the following events: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Acquisition of Heartland on Dec. 4, 2024; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Commissioning of the Northern Goldfields solar facilities in the fourth quarter of 2023, the Mount
Keith 132kV expansion in the first quarter of 2024 and the impact from the White Rock and Horizon Hill wind facilities which achieved commercial operation in the first half of 2024. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition to the items described above, revenues have been impacted by: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher production in all three quarters of 2025 and the fourth quarter of 2024 compared to the same
periods in the prior year; </FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The effects of unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains and losses from hedging and derivative positions; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower realized pricing in the fourth quarter of 2024 primarily due to the impact of additions of
new natural gas, wind and solar supply in the Alberta market; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher realized pricing in all three quarters of 2025 compared to the same periods in the prior
year due to favourable realized hedge positions and optimization in the current period, which generated positive contributions over settled spot prices.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M41</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Carbon compliance costs (recovery) have been impacted by: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher costs of carbon per tonne, which increased from $80 in 2024 to $95 in 2025;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">In the second quarter of 2025, carbon compliance costs were reduced by using internally generated
and externally purchased emission credits to settle a portion of our 2024 GHG obligation and a portion of the GHG obligation assumed in the Heartland acquisition; and </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">In the second quarter of 2024, carbon compliance costs were reduced by using internally generated
and externally purchased emission credits to settle a portion of our 2023 GHG obligation. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">OM&amp;A has
been impacted by: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher spending to support strategic and growth initiatives in the first and second quarters of
2025 and in the third and fourth quarters of 2024, compared to same periods in the prior year; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Return to service of the Kent Hills wind facilities and the impact from the Horizon Hill and White
Rock wind facilities which achieved commercial operation in the first half of 2024; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The addition of the Heartland facilities and associated corporate costs in all three quarters of
2025 and part of the fourth quarter of 2024; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher costs stemming from the planning, design and implementation of an upgrade to our ERP system
in all three quarters of 2025 and the fourth quarter of 2024; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">In the fourth quarter of 2024, penalties assessed by the Alberta Market Surveillance Administrator
for self-reported contraventions pertaining to Hydro ancillary services provided during 2021 and 2022. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Depreciation has been impacted by: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Revisions in the useful lives of certain facilities that occurred in the third quarter 2024;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in depreciation due to the impact from the White Rock and Horizon wind facilities which
achieved commercial operation in the first half of 2024; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The acquisition of Heartland in the fourth quarter of 2024. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher asset impairment charges due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An impairment charge on the Required Divestitures classified as held for sale in the first quarter
of 2025; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Development projects that are no longer proceeding in the first and second quarters of 2025 and the
third and fourth quarters of 2024;
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increase in decommissioning provisions for retired assets due to changes in estimated cash flows in
the third quarter of 2023 and 2024; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Increase in decommissioning provisions for retired assets due to lower discount rates in the second
and third quarter of 2025; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Changes in the expected timing of when decommissioning occurs, impacting the calculation of
decommissioning provision in the third and fourth quarters of 2024; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Impairment reversal related to certain Energy Transition assets reclassified to Assets held for
sale in the first quarter of 2025; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Impairment, net of reversals, related to certain Wind and Solar facilities due to changes in
expected production volumes and lower power price assumptions in the third quarter of 2025. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(Loss)
earnings before income taxes has been impacted by the following: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The items described above; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Fair value change in contingent consideration payable during 2025 driven by updated expected sale
proceeds related to the Required Divestitures; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher interest expense due to higher interest on debt driven by the addition of Heartland term
facility, lower capitalized interest during 2025 as a result of lower capital activity during the nine months ended Sept. 30, 2025, and higher accretion of provisions in the current period compared to the same periods in 2024.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Net (loss) earnings attributable to common shareholders has been impacted by fluctuations in current
and deferred tax expense with (loss) earnings before tax across the quarters. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash flow from operating activities has
been impacted by the following: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The items described above; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Favourable changes in <FONT STYLE="white-space:nowrap">non-cash</FONT> operating working capital
balances in the third and second quarters of 2025, compared to same periods in prior year, due to timing of cash receipts, partially offset by higher payables and accrued liabilities, and lower prepaid expense due to insurance driven timing of
payments; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower provisions and other <FONT STYLE="white-space:nowrap">non-cash</FONT> items in the second and
first quarter of 2025 compared to the same periods in 2024. </FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M42</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_11"></A>Financial Position </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table highlights significant changes in the Condensed Consolidated Statements of Financial Position from Dec. 31,
2024 to Sept. 30, 2025: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="60%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept.&nbsp;30,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Increase/(decrease)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Assets</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Current assets</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Cash and cash equivalents</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>211</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">337</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(126</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Risk management assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>159</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">318</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(159</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Assets held for sale</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Other current
assets<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,043</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">1,038</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Total current assets</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,458</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">1,773</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(315</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B><FONT STYLE="white-space:nowrap">Non-current</FONT> assets</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Risk management assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">93</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(55</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Property, plant and equipment, net</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,748</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">6,020</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(272</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Long-term financial assets</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>125</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">125</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Other <FONT STYLE="white-space:nowrap">non-current</FONT> assets<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,523</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">1,613</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(90</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Total <FONT STYLE="white-space:nowrap">non-current</FONT> assets</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7,434</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">7,726</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(292</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Total assets</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8,892</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">9,499</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(607</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Liabilities</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Current liabilities</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Accounts payable, accrued liabilities and other current
liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>637</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">756</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(119</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Risk management liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>150</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">277</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(127</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decommissioning and other provisions (current)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>110</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Dividends payable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Credit facilities, long-term debt and lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>169</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">572</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(403</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Contingent consideration payable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(66</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Other current
liabilities<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>750</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">751</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Total current liabilities</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,850</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">2,569</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(719</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B><FONT STYLE="white-space:nowrap">Non-current</FONT> liabilities</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Credit facilities, long-term debt and lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,496</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">3,236</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">260</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Decommissioning and other provisions (long-term)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>871</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">850</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Risk management liabilities (long-term)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>441</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">305</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">136</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Other <FONT STYLE="white-space:nowrap">non-current</FONT> liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>622</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">696</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(74</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Total <FONT STYLE="white-space:nowrap">non-current</FONT> liabilities</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,430</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">5,087</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">343</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Total liabilities</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7,280</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">7,656</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(376</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Equity</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">Equity attributable to shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,534</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">1,746</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(212</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3"></TD>
<TD HEIGHT="3" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD>
<TD HEIGHT="3" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:7pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT>
interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">97</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Total equity</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,612</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">1,843</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(231</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:2.5pt"><FONT COLOR="#43c5e4"><B>Total liabilities and equity</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8,892</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">9,499</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt" ALIGN="right"><FONT COLOR="#636466">(607</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2.5pt"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="3" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="3" COLSPAN="4" STYLE="BORDER-TOP:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:1pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other current assets is a supplementary financial measure and consists of restricted cash of
$70&nbsp;million (Dec. 31, 2024 &#8212; $69 million), trade and other receivables of $768&nbsp;million (Dec. 31, 2024 &#8212; $767 million), prepaid expenses and other of $66&nbsp;million (Dec. 31, 2024 &#8212; $68 million) and inventory of
$139&nbsp;million (Dec. 31, 2024 &#8212; $134 million). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other <FONT STYLE="white-space:nowrap">non-current</FONT> assets is a supplementary financial
measure and consists of the long-term portion of finance lease receivables of $283&nbsp;million (Dec. 31, 2024 &#8212; $305 million), <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">right-of-use</FONT></FONT> assets of
$114&nbsp;million (Dec. 31, 2024 &#8212; $120 million), intangible assets of $254&nbsp;million (Dec. 31, 2024 &#8212; $281 million), goodwill of $517&nbsp;million (Dec. 31, 2024 &#8212; $517 million), deferred income tax assets of $47&nbsp;million
(Dec. 31, 2024 &#8212; $52 million), investments of $144&nbsp;million (Dec. 31, 2024 &#8212; $159 million) and other assets of $164&nbsp;million (Dec. 31, 2024 &#8212; $179 million). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other current liabilities is a supplementary financial measure and consists of bank overdraft of
nil (Dec. 31, 2024 &#8212; $1 million) and exchangeable securities of $750&nbsp;million (Dec. 31, 2024 &#8212; $750 million). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other <FONT STYLE="white-space:nowrap">non-current</FONT> liabilities is a supplementary
financial measure and consists of contract liabilities of $26&nbsp;million (Dec. 31, 2024 &#8212; $24 million), defined benefit obligation and other long-term liabilities of $173&nbsp;million (Dec. 31, 2024 &#8212; $202 million) and deferred income
taxes of $423&nbsp;million (Dec. 31, 2024 &#8212; $470&nbsp;million). </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M43</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Significant changes in TransAlta&#8217;s condensed consolidated statements of
financial position were as follows: </FONT></P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Working Capital </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The deficit of current assets over current liabilities, including the current portion of long-term debt and lease liabilities was
$392&nbsp;million as at Sept. 30, 2025 (Dec. 31, 2024 &#8212; $796 million). The deficit decreased primarily as a result of a decrease in the current portion of credit facilities, long-term debt and lease liabilities. On March&nbsp;25, 2025, the
Company repaid its $400&nbsp;million variable rate term loan facility in advance of the scheduled maturity date of Sept. 7, 2025, with the proceeds received from the $450&nbsp;million senior notes offering. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Current assets decreased by $315&nbsp;million to $1,458&nbsp;million as at Sept. 30, 2025, from $1,773&nbsp;million as at Dec. 31,
2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower risk management assets mainly due to decrease in market price volatility, lower trading
activity and contract settlements; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower cash and cash equivalents mainly due to lower cash flow from operating activities and higher
cash used in investing activities; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">A decrease in assets held for sale related to the Required Divestitures driven by the updated
expectations of the fair value less costs to sell and the derecognition of one of the Required Divestitures. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Current liabilities decreased by $719&nbsp;million to $1,850&nbsp;million as at Sept. 30, 2025, from $2,569&nbsp;million as at Dec. 31, 2024, mainly due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower current portion of credit facilities, long-term debt and lease liabilities mainly due to
advance repayment of the variable rate term loan facility in the first quarter of 2025; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower risk management liabilities due to lower market prices and contract settlements;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower accounts payable, accrued liabilities and other current liabilities mainly due to a
settlement of GHG obligation related to the year ended Dec. 31, 2024 during the second quarter of 2025 and lower GHG accruals for the current period due to lower volumes; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower contingent consideration payable related to changes in fair value and the derecognition of
one of the Required Divestitures; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower dividends payable due to the timing of payments; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in the current portion of decommissioning and other provisions due to revisions in
discount rates and estimated decommissioning costs.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-Current</FONT> Assets </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-current</FONT> assets as at Sept. 30, 2025 were $7,434&nbsp;million, a decrease of
$292&nbsp;million from $7,726&nbsp;million as at Dec. 31, 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower property, plant and equipment (PP&amp;E) resulting from depreciation of $407&nbsp;million for
the nine months ended Sept.&nbsp;30, 2025, transfers to Assets held for sale related to Energy transition equipment of $30&nbsp;million, and an impairment charge, net of impairment reversals related to Wind and Solar facilities of $20&nbsp;million,
partially offset by capital additions of $158&nbsp;million (refer to the Capital Expenditures section of this MD&amp;A for more information); and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Lower risk management assets due to changes in market pricing across multiple markets and changes
in price forecasts; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher long-term financial assets due a term loan and a revolving facility made to Nova, a
developer of renewable energy projects. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-Current</FONT> Liabilities
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-current</FONT> liabilities as at Sept. 30, 2025 were $5,430&nbsp;million, an
increase of $343&nbsp;million from $5,087&nbsp;million as at Dec. 31, 2024, mainly due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in credit facilities, long-term debt and lease liabilities due to the $450&nbsp;million
senior notes offering on March&nbsp;24, 2025; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher risk management liabilities due to forward price changes and volatility in market pricing
across multiple markets; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">An increase in decommissioning and other provisions due to revisions in discount rates and
estimated decommissioning costs; partially offset by </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">A decrease in long-term debt due to scheduled principal repayments related to our bonds, senior
notes and tax equity financing, as well as repayments, net of cash drawings under the syndicated credit facility. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Total Equity </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total equity at Sept. 30, 2025 decreased by $231&nbsp;million compared to Dec. 31, 2024, due to: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Net losses of $118&nbsp;million; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Net losses on derivatives designated as cash flow hedges of $32&nbsp;million;
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Dividends declared on common and preferred shares of $65&nbsp;million; and
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Share repurchases under the NCIB of $24&nbsp;million.
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M44</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_12"></A>Financial Capital </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company is focused on maintaining a strong balance sheet and financial position to ensure access to sufficient financial
capital. </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Capital Structure </B></FONT></P>
<P STYLE="margin-top:9pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Our capital structure consists of the following components as shown below: </FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="62%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept.&nbsp;30,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">$</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">%&nbsp;of&nbsp;total</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">$</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #636466;"><FONT COLOR="#636466">%&nbsp;of&nbsp;total</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #636466;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466"><I>Net senior unsecured debt</I></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Recourse debt &#8212; CAD debentures</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>697</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">251</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Recourse debt &#8212; U.S. senior notes</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>965</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">995</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Credit facilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>98</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">543</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466"><I><FONT STYLE="white-space:nowrap">Non-recourse</FONT>
debt</I></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">TAPC Holdings LP bond (Poplar Creek)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>67</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Pingston bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Melancthon Wolfe Wind LP bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>116</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">133</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">New Richmond Wind LP bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>89</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">93</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Kent Hills Wind LP bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>168</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">179</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Windrise Wind LP bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>152</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">157</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">TEC Hedland PTY Ltd bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">675</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Heartland term facility</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>204</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">224</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466"><I>Recourse debt</I></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">TransAlta OCP LP bond</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>166</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">192</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Tax equity financing</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">101</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>148</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">151</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Credit facilities, long-term debt and
lease liabilities<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,665</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,808</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT SIZE="1">&nbsp;</FONT> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Add: Exchangeable debentures</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>350</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">350</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Add: Bank overdraft</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Less: Cash and cash equivalents</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(211</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(337</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Less: TransAlta OCP LP restricted cash<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Less: Fair value of foreign exchange forward
contracts on foreign-currency denominated debt<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total consolidated net debt<SUP
STYLE="font-size:75%; vertical-align:top">(4)(5)(6)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,785</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,798</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">62</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Exchangeable preferred
shares<SUP STYLE="font-size:75%; vertical-align:top">(6)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>400</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Equity attributable to shareholders</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Common shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,169</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,179</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">53</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>942</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">942</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; font-size:8pt; font-family:arial"><FONT COLOR="#636466">Contributed surplus, deficit and accumulated other comprehensive
loss</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2,577</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(2,375</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-controlling</FONT> interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">97</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.50em; font-size:8pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total capital</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5,797</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>100</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">6,041</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Credit facilities, long-term debt and lease liabilities consist of current and <FONT
STYLE="white-space:nowrap">non-current</FONT> portions in the the Condensed Consolidated Statements of Financial Position. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Principal portion of the TransAlta OCP LP restricted cash related to the TransAlta OCP LP bonds
as this cash is restricted specifically to repay outstanding debt. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Represents the fair value of asset (liability) of the foreign exchange forward contracts used to
manage the foreign exchange exposure on foreign-currency denominated debt. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total consolidated net debt is a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure, which
is not defined and has no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. The most directly comparable IFRS measure is total credit facilities, long-term debt and lease liabilities. Refer to
the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for further discussion. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Tax equity financing for the Skookumchuck wind facility, an equity-accounted joint venture, is
not represented in these amounts. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(6)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total consolidated net debt excludes the exchangeable preferred shares as they are considered
equity with dividend payments for credit purposes. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M45</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On March&nbsp;25, 2025, the Company repaid its $400&nbsp;million variable rate term
loan facility in advance of the scheduled maturity date of Sept. 7, 2025, with the proceeds received from the $450&nbsp;million senior notes offering. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Between 2025 and 2027, the Company has a total of $544
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
million of scheduled debt and tax equity repayments remaining. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
$750&nbsp;million of exchangeable securities are exchangeable into an equity ownership interest in TransAlta&#8217;s Alberta Hydro Assets as of Dec. 31, 2024.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Credit Facilities
</B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:arial"><FONT COLOR="#636466">The Company&#8217;s credit facilities are summarized in the table below: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="57%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>As at Sept. 30, 2025</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Utilized</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>Credit facilities</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Facility<BR>size</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Outstanding<BR>letters of<BR>credit<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Cash<BR>drawings</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Available<BR>capacity</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Maturity<BR>date</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Committed</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Syndicated credit facility</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,900</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">392</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1,406</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q2 2029</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Bilateral credit facilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">240</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">152</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q2 2027</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Heartland credit facilities</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">256</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">204</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">Q4 2027</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Heartland Export Development Canada letter of
credit facility</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">Q4&nbsp;2025</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total Committed</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,426</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>566</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>306</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,554</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Non-Committed</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Demand facilities</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">400</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">212</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">188</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="center"><FONT COLOR="#636466">N/A</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.33em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Total Non-Committed</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>400</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>212</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>188</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">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. Letters of credit drawn
against the <FONT STYLE="white-space:nowrap">non-committed</FONT> facilities reduce available capacity under the committed syndicated credit facilities. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company maintains a strong financial position, with $1.6&nbsp;billion in
liquidity as of Sept. 30, 2025. Credit facilities are the primary source of short-term liquidity after internally generated cash flow. The Company is in compliance with the terms of its credit facilities and all undrawn amounts are fully available.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Letters of credit in the amount of $212&nbsp;million were issued from
<FONT STYLE="white-space:nowrap">non-committed</FONT> demand facilities which are fully backstopped, thereby reducing the available capacity on the committed credit facilities. In addition to the net $1.3&nbsp;billion of committed capacity available
under the credit facilities, the Company had $211&nbsp;million of available cash and cash equivalents as at Sept. 30, 2025. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">TransAlta&#8217;s debt has terms and conditions, including financial covenants, that are considered ordinary and customary. As at Sept. 30, 2025, the Company was in compliance with all of its debt covenants.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Credit Facility Extension </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the third quarter of 2025, the size of the Syndicated credit facility was reduced from $1.95 to $1.90&nbsp;billion, and the
maturity was extended by one year to June 30, 2029. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the third quarter of 2025, the maturity of the Bilateral
credit facilities in the aggregate amount of $240&nbsp;million were also extended by one year to June&nbsp;30, 2027. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Senior Notes
Offering </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On March&nbsp;24, 2025, the Company issued $450&nbsp;million of senior notes with a fixed annual coupon of
5.625&nbsp;per cent, maturing on March&nbsp;24, 2032. The notes are unsecured and rank equally in right of payment with all existing and future senior indebtedness and senior in right of payment to all future subordinated indebtedness. Interest
payments on the notes are made semi-annually, on March&nbsp;24 and Sept. 24, with the first payment having been made on Sept. 24, 2025.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M46</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B><FONT STYLE="white-space:nowrap">Non-Recourse</FONT> Debt and Other
</B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">All <FONT STYLE="white-space:nowrap">non-recourse</FONT> debt, TransAlta OCP LP bond,
and Heartland credit facilities 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 third quarter of 2025, with the exception of Windrise Wind LP.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Sept. 30, 2025, $6&nbsp;million (AU$6 million) of funds held by TEC Hedland Pty
Ltd. are not able to be accessed by other corporate entities, as the funds must be solely used by the project entities for the purpose of paying major maintenance costs. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Additionally, certain <FONT STYLE="white-space:nowrap">non-recourse</FONT> bonds require that reserve accounts be established and
funded through cash held on deposit and/or by providing letters of credit. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Returns to Providers of
Capital </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Interest Income and Interest Expense </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Interest income and the components of interest expense are shown below: </FONT></P>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="58%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="right"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="right"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Interest income</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #636466;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #636466;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on debt</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">49</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>156</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">148</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on exchangeable debentures</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on exchangeable preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Capitalized interest</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(16</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest on lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Credit facility fees, bank charges and other interest</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Accretion of provisions</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD HEIGHT="4" COLSPAN="4" STYLE="BORDER-TOP:1px solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Interest expense</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>266</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">232</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the nine months ended Sept. 30, 2025 interest expense was higher compared to the
same period of 2024, primarily due to lower capitalized interest resulting from lower construction activity in the current period compared to the
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
same period in 2024, higher interest on debt driven by the addition of Heartland term facility, higher accretion of provisions and higher bank charges and other interest in the current period.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M47</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Share Capital </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following tables outline the common and preferred shares issued and outstanding: </FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="56%"></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="12"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Number of shares (millions)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>As at</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Nov.&nbsp;5,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept.&nbsp;30,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Common shares issued and outstanding, end of
period</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>296.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>296.7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">297.5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series A</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series B</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">2.4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series C</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">10.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series D</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">1.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series E</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">9.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series G</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>6.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">6.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Preferred shares issued and outstanding in
equity</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>38.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>38.6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">38.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Series I &#8212; exchangeable securities<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Preferred shares issued and
outstanding</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>39.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>39.0</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">39.0</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Brookfield invested $400&nbsp;million in consideration for redeemable, retractable, first
preferred shares. For accounting purposes, these preferred shares are considered debt and disclosed as such in the consolidated financial statements. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Non-Controlling</FONT> Interests </B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Sept. 30, 2025, the Company owned 50.01&nbsp;per cent of TA Cogen (Sept. 30,
2024 &#8212; 50.01 per cent), which owns, operates or has an interest in three <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-fired</FONT></FONT> cogeneration facilities (Ottawa, Windsor and Fort Saskatchewan) and a
50&nbsp;per cent interest in a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">natural-gas-fired</FONT></FONT> facility (Sheerness). On Dec. 4, 2024, the Company acquired the remaining 50&nbsp;per cent interest in Sheerness as part
of the Heartland acquisition, increasing its effective interest from 25 to 75&nbsp;per cent of the facility. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">As at Sept.
30, 2025, the Company owned 83&nbsp;per cent of Kent Hills Wind LP (Sept. 30, 2024 &#8212; 83 per cent), which owns and operates three wind facilities.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Since the Company owns a controlling interest in TA Cogen and Kent Hills Wind LP, we
consolidated the entire earnings, assets and liabilities in relation to the subsidiaries. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The reported net earnings
attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests for the three and nine months ended Sept. 30, 2025 decreased by $6 and $30&nbsp;million, respectively, compared to the same periods in 2024, primarily as a result of
lower TA Cogen net earnings attributable to <FONT STYLE="white-space:nowrap">non-controlling</FONT> interests resulting from lower production and lower merchant pricing in the Alberta market.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M48</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_13"></A>Cash Flows </B></FONT></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table highlights significant changes in the Condensed Consolidated Statements of Cash Flows for the nine months ended
Sept. 30, 2025 and Sept. 30, 2024: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="64%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Increase/<BR>(decrease)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash and cash equivalents, beginning of period</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>337</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">348</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(11</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Provided by (used in):</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.78em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Operating activities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>415</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">581</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(166</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.78em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Investing activities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(302</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(198</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(104</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.78em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Financing activities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(241</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">(335</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">94</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.78em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Translation of foreign currency
cash</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash and cash equivalents, end of
period</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>211</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">401</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(190</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash and cash equivalents for the nine months ended Sept. 30, 2025 decreased by $190&nbsp;million
compared to the same period in 2024. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Cash Flow from Operating Activities </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash from operating activities for the nine months ended Sept. 30, 2025 decreased compared with the same period in 2024, primarily
due to the following: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended<BR>Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash flow from operating
activities for the nine months ended Sept. 30, 2024</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">581</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Lower gross margin due to lower
revenues, partially offset by lower carbon compliance and lower fuel and purchased power costs in the current period.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher OM&amp;A due to the
addition of the Heartland facilities and associated corporate costs, spending on strategic and growth initiatives, higher spending related to the planning, design and implementation of an ERP system upgrade and the impact from the White Rock and
Horizon Hill wind facilities which achieved commercial operation in the first half of 2024.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(104</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Higher interest expense
primarily due to higher interest on debt driven by the addition of Heartland term facility, lower capitalized interest resulting from lower construction activity in the nine months ended Sept.&nbsp;30, 2025, and higher accretion of provisions
compared to the same period in 2024.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Unfavourable change in non-cash
operating working capital balances due to lower accounts payable and accrued liabilities, higher accounts receivable, higher income taxes receivable, partially offset by lower collateral provided.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Other non-cash
items</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">33</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#43c5e4"><B>Cash flow from operating activities for the
nine months ended Sept. 30, 2025</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>415</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M49</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Cash Flow used in Investing Activities </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash used in investing activities for the nine months ended Sept. 30, 2025 increased compared with the same period in 2024,
primarily due to the following: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended<BR>Sept. 30</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Cash flow used in investing activities for the nine months ended Sept. 30, 2024</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(198)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Lower additions to PP&amp;E due to larger construction program in the nine months ended Sept. 30, 2024 compared to the current period.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">42&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Increase in long-term financial assets during the nine months ended Sept. 30, 2025 related to the Company&#8217;s investment in Nova.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(128)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Other<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(18)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Cash flow used in investing activities for the nine months ended Sept. 30, 2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(302)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Mainly comprised of the change in <FONT STYLE="white-space:nowrap">non-cash</FONT> investing
working capital balance, restricted cash, payments under the loan receivable and other items in the investing activities section. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>Cash Flow used in Financing Activities </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash used in financing activities for the nine months
ended Sept. 30, 2025 decreased compared with the same period in 2024, primarily due to the following: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended<BR>Sept. 30</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Cash flow used in financing activities for the nine months ended Sept. 30, 2024</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(335)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Repayment of the $400 million variable rate term facility.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(400)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Issuance of $450 million senior notes during the first quarter of 2025.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">450&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Lower repurchases of common shares under the NCIB in the current period compared to the same period in prior year.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">90&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Repayments, net of cash drawings under the syndicated credit facility.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(44)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Lower distributions paid to non-controlling interests due to lower net earnings in the current period.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">31&#8196;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Higher amount of long-term debt repayments during the nine months ended Sept. 30, 2025.</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(31)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Other</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(2)</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Cash flow used in financing activities for the nine months ended Sept. 30, 2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(241)</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M50</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_14"></A>Capital Expenditures </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Sustaining capital and growth and development capital expenditures represent
supplementary financial measures used to present our spending related to the safe and reliable operation of our existing facilities and the construction of projects, respectively. The sum of sustaining capital and growth and development capital
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
expenditures, adjusted for <FONT STYLE="white-space:nowrap">non-cash</FONT> items and transfers, is equal to the additions to property, plant and equipment and intangible assets, and development
capital expenditures during the period in the condensed consolidated statement of cash flows. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Sustaining Capital
Expenditures </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We are in a long-cycle business that requires significant capital expenditures. Our
goal is to undertake sustaining capital expenditures that ensure our facilities operate reliably and safely. Sustaining capital are capital
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
expenditures incurred for major maintenance to sustain the existing capacity or production of the existing asset to the end of its useful life.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Company&#8217;s sustaining capital expenditures by segment are summarized in the table below: </FONT></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="55%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>32</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind and Solar</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>56</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Energy Transition</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Corporate</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Sustaining capital expenditures</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>117</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total sustaining capital expenditures during the three months ended Sept. 30, 2025
were comparable to the same period in 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total sustaining capital expenditures during the nine months ended Sept. 30,
2025 were $42&nbsp;million higher compared to the same period in 2024, primarily due to: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher major maintenance for our Canadian gas facilities due to timing of spend and the addition of
maintenance for the gas facilities acquired from Heartland; </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Higher major maintenance in the Wind and Solar segment; partially offset by
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">No major maintenance occurring in the Energy Transition segment in the current period.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total sustaining capital expenditures for the nine months ended Sept. 30, 2024 were also impacted by
the receipt of a lease incentive related to the Company&#8217;s head office during the first quarter of 2024, included in the Corporate segment.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M51</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Growth and Development Capital Expenditures </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Growth and development capital expenditures are impacted by the timing and
construction of projects within the development pipeline. Growth capital represents capital expenditures incurred that will add megawatts to
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
the Company or will generate new incremental revenues and consists of engineering, design, contracting, permitting, payroll and overhead expenditures that meet capitalization criteria.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table provides our growth and development spending by segment: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="56%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center"><FONT COLOR="#171a5f"><B>3 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" NOWRAP ALIGN="center"><FONT COLOR="#171a5f"><B>9 months ended Sept. 30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Hydro</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Wind and Solar</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">54</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Gas</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>43</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Energy Transition</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Growth and development expenditures</B></FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>49</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">98</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In the three and nine months ended Sept. 30, 2025, growth and development capital
expenditures were lower compared to the same period in 2024, as many of the
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
growth projects achieved commercial operation in the first half of 2024.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_15"></A>Growth </B></FONT></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Over the course of 2024 and first half of 2025, we refined our development pipeline
to align with evolving regulatory and interconnection dynamics, while progressing opportunities at our legacy assets. The pipeline now
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
includes 840 MW of <FONT STYLE="white-space:nowrap">mid-stage</FONT> projects and 3,109 MW of early-stage projects. We remain focused on the redevelopment of existing thermal sites and pursuing
greenfield and M&amp;A opportunities in our core markets. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Early-Stage Development
</B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Project feasibility is evaluated through initial assessments including market,
technical, land and permitting evaluations. Milestones include securing key landowner control, establishment of interconnection access,
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
transmission capacity, <FONT STYLE="white-space:nowrap">on-site</FONT> resource measurement and initial stakeholder consultations. Projects are advanced to
<FONT STYLE="white-space:nowrap">mid-stage</FONT> development if a viable economic development path is identified. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:14pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table shows the pipeline of future growth projects currently under early-stage development: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="48%"></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Early-Stage Projects (MW)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Thermal</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Generation</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Storage</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Various</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,970</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">609</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">190</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">340</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3,109</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M52</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B><FONT STYLE="white-space:nowrap">Mid-Stage</FONT> Development
</B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Project scope and commercial structure are matured at
<FONT STYLE="white-space:nowrap">mid-stage</FONT> development. Key milestones include finalizing core technologies and location, securing full land control, progressing through the interconnection process, initiating offtake negotiations, advancing
environmental and
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
regulatory applications, and preparing a Class&nbsp;4 capital cost estimate. Successful <FONT STYLE="white-space:nowrap">mid-stage</FONT> completion positions projects for detailed definition to
support a final investment decision. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:20pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
table shows the pipeline of future growth projects currently under <FONT STYLE="white-space:nowrap">mid-stage</FONT> development: </FONT></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="47%"></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B><FONT STYLE="white-space:nowrap">Mid-Stage</FONT> Projects (MW)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Thermal</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Generation</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Solar</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Storage</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">Canada</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">United States</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">700</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;" ALIGN="right"><FONT COLOR="#636466">700</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Western Australia</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">Total</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">700</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">840</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Projects under Construction </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Projects under construction will be financed through existing liquidity in the near
term. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We will continue to explore permanent financing solutions on an <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">asset-by-asset</FONT></FONT> basis. We are continually monitoring the timing and costs of our projects under construction.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following
projects have been approved by the Board of Directors, have executed PPAs and are currently under construction or in the process of being commissioned: </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" ALIGN="center">


<TR>

<TD WIDTH="10%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="36%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #171a5f"><FONT COLOR="#171a5f"><B>Total project (millions)</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Project</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Type</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Region</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>MW</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>Estimated</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:arial" ALIGN="center"><FONT COLOR="#171a5f"><B>spend</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Spent&nbsp;to<BR>date</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Target<BR>completion<BR>date</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>PPA<BR>Term<BR>(years)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Status</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4" COLSPAN="3"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" COLSPAN="3" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT STYLE="font-size:9pt" COLOR="#43c5e4"><B>Western Australia</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Mount Keith West&nbsp;Network Upgrade</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">Transmission</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">WA</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">n/a</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="center"><FONT COLOR="#636466">AU$40</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">AU$42</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="center"><FONT COLOR="#636466">AU$37</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">Q4&nbsp;2025</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><DIV STYLE="margin-top:0pt;margin-bottom:0pt; display: table-row;"><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; "><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.321429em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">All major equipment delivered and installed</FONT></P></DIV></DIV>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="margin-top:0pt;margin-bottom:0pt; display: table-row;"><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; "><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></P></DIV><DIV STYLE="display: table-cell">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.321429em; font-size:7pt; font-family:arial"><FONT COLOR="#636466">On-track to be completed on schedule</FONT></P></DIV></DIV></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#43c5e4"><B>Total<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>n/a</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="center"><FONT COLOR="#636466"><B>$36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>$38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;" ALIGN="center"><FONT COLOR="#636466"><B>$32</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1.00pt solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1.00pt solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1.00pt solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Total estimated spend was converted using a Canadian dollar forward exchange rate for 2025. Spent
to date was converted using the <FONT STYLE="white-space:nowrap">period-end</FONT> closing rate. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M53</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_16"></A>Other Consolidated Analysis </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Commitments </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has not incurred any additional material contractual commitments in the nine months ended Sept. 30, 2025, either
directly or through its interests in joint operations and joint ventures. There were reductions to the expected future payments under the Company&#8217;s long-term service agreements during the nine months ended Sept. 30, 2025. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For the approximate future payments under the long-term service agreements as at Sept. 30, 2025, refer to Note 19 in the unaudited
interim condensed consolidated financial statements as at and for the nine months ended Sept. 30, 2025. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Natural Gas Transportation
Contracts </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company has natural gas transportation contracts, for a total of up to 400 terajoules (TJ) per day on
a firm basis, related to the Sundance and Keephills facilities, ending in 2036
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
to 2038. In addition, the Company has natural gas transportation agreements for approximately 150 TJ per day for Sheerness. The Company currently expects to use approximately 160 TJ per day on
average and up to approximately 450 TJ per day during peak periods, while remarketing the excess capacity. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company
may be required to recognize the natural gas transportation agreements as onerous contracts if any of the related facilities are retired in advance of the maturity of the transportation contracts. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Contingencies </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">For the current material outstanding contingencies, please refer to Note 37 of the 2024 audited annual consolidated financial statements. There were no material changes to the contingencies in the nine months ended Sept. 30, 2025.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_17"></A>Financial Instruments </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For details on Financial instruments refer to Note 14 of the notes to the audited
annual 2024 consolidated financial statements and Note 11 of our unaudited interim condensed consolidated financial statements as at and for the nine months ended Sept. 30, 2025. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We may enter into commodity transactions involving <FONT STYLE="white-space:nowrap">non-standard</FONT> features for which
market-observable data is not available. These transactions are defined under IFRS as Level III instruments. Level III instruments incorporate inputs that are not observable from the market and fair value is therefore determined using valuation
techniques. Fair values are validated by using reasonably possible alternative assumptions as inputs to valuation techniques and any material differences are disclosed in the notes to the unaudited interim condensed consolidated financial
statements. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">At Sept. 30, 2025, Level III instruments had a net liabilities carrying value of
$265&nbsp;million (Dec. 31, 2024 &#8211; net liabilities $234 million). The Level III liabilities increased during the nine months ended Sept. 30, 2025 from Dec. 31, 2024 due to unfavourable changes in market pricing across multiple markets driven
by higher volatility, partially offset by an increase in long-term financial assets as a result of the Company making available a term loan and revolving facility to a developer of renewable energy projects and a decrease in the fair value of
contingent consideration payable driven by updated expectations on the fair value less costs to sell on the Required Divestitures and derecognition of contingent consideration upon completion of one of the Required Divestitures. Our risk management
profile and practices have not changed materially from Dec. 31, 2024. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M54</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_18"></A><FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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 <FONT STYLE="white-space:nowrap">non-IFRS</FONT> basis, as described below. Unless otherwise indicated, all amounts are in Canadian dollars and have been derived from
our consolidated financial statements prepared in accordance with IFRS. We believe that these <FONT STYLE="white-space:nowrap">non-IFRS</FONT> amounts, measures and ratios, read together with our IFRS amounts, provide readers with a better
understanding of how management assesses results. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466"><FONT STYLE="white-space:nowrap">Non-IFRS</FONT> 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, as an alternative to, or more meaningful than, our IFRS results.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">We calculate adjusted measures by adjusting certain IFRS measures for certain items we believe are not reflective of our
ongoing operations in the period. Except as otherwise described, these adjusted measures are calculated on a consistent basis from period to period and are adjusted for specific items in each period, unless stated otherwise. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B><FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Financial Measures </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted EBITDA, adjusted revenues, adjusted fuel and purchased power, adjusted gross margin, adjusted OM&amp;A, adjusted net other
operating income, adjusted (loss) earnings before income taxes, adjusted net (loss) earnings after income taxes attributable to common shareholders, FFO, FCF, total consolidated net debt, adjusted net debt and net interest expense are <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures that are presented in this MD&amp;A. This section provides additional information in respect of such <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures, including a reconciliation of such <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures to the most comparable IFRS measure. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted EBITDA </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Each business segment assumes responsibility for its operating results measured by adjusted EBITDA. Adjusted EBITDA is an important
metric for management that represents our core operational results. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the first quarter of 2025, our adjusted
EBITDA composition was amended to remove the impact of realized gain (loss) on closed exchange positions, which was included in adjusted EBITDA composition until the fourth quarter of 2024. The adjustment was intended to explain a timing difference
between our internally and externally reported results and was useful at a time when markets were more volatile. The impact of realized gain (loss) on closed exchange positions was removed to simplify our reporting. Accordingly, the Company has
applied this composition to all previously reported periods.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the first quarter of 2025, our adjusted EBITDA composition was amended to
remove the impact of Australian interest income, which was included in adjusted EBITDA composition until the fourth quarter of 2024. Initially, on the commissioning of the South Hedland facility in July 2017, we prepaid approximately
$74&nbsp;million of electricity transmission and distribution costs. Interest income, which was recorded on the prepaid funds, was reclassified as a reduction in the transmission and distribution costs expensed each period to reflect the net cost to
the business. The impact of Australian interest income was removed to simplify our reporting since the amounts were not material. Accordingly, the Company has applied this composition to all previously reported periods. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Interest, taxes, depreciation and amortization are not included, as differences in accounting treatment 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&#8217;
analysis of trends. The most directly comparable IFRS measure is earnings before income taxes. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following are
descriptions of the adjustments made to arrive at the <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures: </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted Revenue
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted Revenues is Revenues (the most directly comparable IFRS measure) adjusted to exclude: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The impact of unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> gains or losses and unrealized foreign exchange gains or losses on commodity transactions. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Certain assets that we own in Canada and Western Australia are fully contracted and recorded as
finance leases under IFRS. We believe that 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></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Revenues from the Required Divestitures as they do not reflect ongoing business performance.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted Fuel and Purchased Power </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted Fuel and Purchased Power is Fuel and Purchased Power (the most directly comparable IFRS measure) adjusted to exclude fuel
and purchased power from the Required Divestitures as it does not reflect ongoing business performance. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M55</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted OM&amp;A </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted OM&amp;A is OM&amp;A (the most directly comparable IFRS measure) adjusted to exclude: </FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Acquisition-related transaction and restructuring costs, mainly comprised of severance, legal and
consultant fees as these do not reflect ongoing business performance. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">ERP integration costs representing planning, design and implementation costs of upgrades to the
existing ERP system as they represent project costs that do not occur on a regular basis, and therefore do not reflect ongoing performance. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">OM&amp;A from the Required Divestitures as it does not reflect ongoing business performance.
</FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted Net Other Operating Income </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted Net Other Operating Income is Net Other Operating Income (the most directly comparable IFRS measure) adjusted to exclude
insurance recoveries related to the Kent Hills replacement costs of the tower collapse as these relate to investing activities and are not reflective of ongoing business performance. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjustments to Earnings (Loss) in Addition to Interest, Taxes, Depreciation and Amortization </B></FONT></P>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Fair value change in contingent consideration payable is not included as it is not reflective of
ongoing business performance. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Asset impairment charges and reversals are not included as these are accounting adjustments that
impact depreciation and amortization and do not reflect ongoing business performance. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Any gains or losses on asset sales or foreign exchange gains or losses are not included as these
are not part of operating income. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjustments for Equity-Accounted Investments </B></FONT></P>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">During the fourth quarter of 2020, we acquired a 49&nbsp;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 adjusted EBITDA for the Skookumchuck wind facility in our total adjusted EBITDA. In addition, in the Wind and Solar 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 adjusted EBITDA of other equity-accounted investments in our total adjusted EBITDA as it does not represent our regular power-generating operations.
</FONT></P></TD></TR></TABLE></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted (Loss) Earnings before income taxes </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted (loss) earnings before income taxes represents segmented (loss) earnings adjusted for certain items that we believe do not
reflect ongoing business performance and is an important metric for evaluating performance trends in each segment. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">For
details of the adjustments made to (loss) earnings before income taxes (the most directly comparable IFRS measure) to calculate adjusted (loss) earnings before income taxes, refer to the Reconciliation of
<FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures on a Consolidated Basis by Segment section of this MD&amp;A. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted Net
(Loss) Earnings attributable to common shareholders </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted net (loss) earnings attributable to common shareholders
represents net (loss) earnings attributable to common shareholders adjusted for specific reclassifications and adjustments and their tax impact, and is an important metric for evaluating performance. For details of the reclassifications and
adjustments made to net (loss) earnings attributable to common shareholders (the most directly comparable IFRS measure), please refer to the reconciliation of net (loss) earnings to adjusted net (loss) earnings attributable to common shareholders in
the Reconciliation of <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures on a Consolidated Basis by Segment section of this MD&amp;A. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT
 COLOR="#171a5f"><B>Adjusted Net (Loss) Earnings per common share attributable to common shareholders </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted net
(loss) earnings per common share attributable to common shareholders is calculated as adjusted net (loss) earnings attributable to common shareholders divided by a weighted average number of common shares outstanding during the period. The measure
is useful in showing the earnings per common share for our core operational results as it excludes the impact of items that do not reflect an ongoing business performance. Adjusted net (loss) earnings attributable per common share is a <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> ratio and the most directly comparable IFRS measure is net (loss) income per common share attributable to common shareholders. Refer to the reconciliation of (loss) earnings before income taxes to adjusted
net (loss) earnings attributable to common shareholders in the Reconciliation of <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures on a Consolidated Basis by Segment section of this MD&amp;A. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Funds From Operations (FFO) </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">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 <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure. For a description of the adjustments made to Cash Flow from Operating Activities (the most directly comparable IFRS measure) to calculate FFO, refer to the Reconciliation of
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M56</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Cash Flow from Operations to FFO and FCF section of this MD&amp;A. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjustments to Cash Flow from Operations </B></FONT></P> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">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></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Payments received on finance lease receivables are reclassified to reflect cash from operations.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">We adjust for costs associated with acquisition-related transaction and restructuring costs that
are not reflective of ongoing operations. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">We adjust for the items included in the cash flow from operating activities related to the decision
in 2020 to accelerate being <FONT STYLE="white-space:nowrap">off-coal</FONT> and the shutdown of the Highvale mine in 2021 (Clean energy transition provisions and adjustments). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Penalties totalling $33&nbsp;million were issued by the Alberta Market Surveillance Administrator
for self-reported contraventions pertaining to ancillary services provided during 2021 and 2022 at our Brazeau hydro facility. The penalties were recognized in OM&amp;A during the fourth quarter of 2024 and paid during the first quarter of 2025, and
have been excluded from FFO composition as they are not reflective of ongoing business performance. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other adjustments include payments/receipts for production tax credits, which are reductions to tax
equity debt and include distributions from equity-accounted joint ventures. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Free Cash Flow (FCF) </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">FCF is an important metric as it represents the amount of cash that is available to invest in growth initiatives, make scheduled
principal debt repayments, repay maturing debt, pay common share dividends or repurchase common shares and provides the ability to evaluate cash flow trends in comparison with the results from prior periods. Changes in working capital are excluded
so that 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 <FONT STYLE="white-space:nowrap">non-IFRS</FONT>
measure. For a description of the adjustments made to Cash Flow from Operating Activities (the most directly comparable IFRS measure) to calculate FCF, refer to the Reconciliation of Cash Flow from Operations to FFO and FCF section of this MD&amp;A.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted Net Debt </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted net debt is calculated as a sum of current and <FONT STYLE="white-space:nowrap">non-current</FONT> portions of credit
facilities, long-term debt and lease liabilities, exchangeable debentures, 50&nbsp;per cent of issued preferred shares and exchangeable preferred shares, less cash and cash equivalents, less principal portion of TransAlta OCP restricted cash and
fair value of hedging instruments on debt. Presenting this item from period to period provides management and investors with the ability to evaluate leverage trends more readily in comparison with prior periods&#8217; results. The most directly
comparable IFRS measure is total credit facilities, long- term debt and lease liabilities. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Total Consolidated Net Debt
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Total consolidated debt is calculated as a sum of current and <FONT STYLE="white-space:nowrap">non-current</FONT>
portions of credit facilities, long-term debt and lease liabilities, exchangeable debentures, less principal portion of TransAlta OCP restricted cash. Total consolidated net debt excludes the exchangeable preferred shares as they are considered
equity with dividend payments for credit purposes. Presenting this item from period to period provides management and investors with the ability to evaluate leverage trends more readily in comparison with prior periods&#8217; results. The most
directly comparable IFRS measure is total credit facilities, long-term debt and lease liabilities, for reconciliation refer to Financial Capital section of this MD&amp;A. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Net Interest Expense </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Net interest expense is calculated as total interest expense less total interest income and <FONT STYLE="white-space:nowrap">non-cash</FONT> items. For detailed calculation refer to the table in the Reconciliation of Adjusted EBITDA
to FFO and FCF section of this MD&amp;A. Net Interest expense is a proxy for the actual cash interest paid that approximates the cash outflow in the FFO and FCF calculation. The most directly comparable IFRS measure is total interest expense.
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted Gross Margin </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Adjusted gross margin is calculated as adjusted revenues less adjusted fuel and purchased power and carbon compliance costs, where
adjustments to revenue or fuel and purchased power were applied as stated above. The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment. The most directly comparable IFRS measure is gross margin in
the consolidated statement of earnings. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M57</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B><FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Ratios </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">FFO per share, FCF per share and adjusted net debt to adjusted EBITDA are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> ratios
that are presented in this MD&amp;A. Refer to the Reconciliation of Cash Flow from Operations to FFO and FCF and Key <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Financial Ratios sections of this MD&amp;A for additional information. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>FFO per Share and FCF per Share </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">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 are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> ratios.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Supplementary Financial Measures </B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Available liquidity </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Cash flow from operating activities per share </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Sustaining capital expenditures </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Growth and development expenditures </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Alberta Hydro Assets ancillary services revenues (total and revenues per MWh)
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Alberta Hydro Assets revenues (total and revenues per MWh) </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other Hydro Assets revenues </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other Hydro revenues </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Highvale mine reclamation spend </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Centralia mine reclamation spend </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Realized foreign exchange gain (loss) </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Unrealized foreign exchange gain (loss) </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">The Alberta electricity portfolio metrics </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Realized merchant power price per MWh </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Hedged power price average per MWh </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Fuel cost per MWh </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Carbon compliance per MWh </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other current assets </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other <FONT STYLE="white-space:nowrap">non-current</FONT> assets </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other current liabilities </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6" VALIGN="top" ALIGN="left"><FONT COLOR="#636466"><FONT STYLE="font-family:Times New Roman; " COLOR="#636466">&#149;</FONT></FONT></TD>
<TD WIDTH="1" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:9pt"><FONT COLOR="#636466">Other <FONT STYLE="white-space:nowrap">non-current</FONT> liabilities
</FONT></P></TD></TR></TABLE></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M58</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Reconciliation of <FONT STYLE="white-space:nowrap">Non-IFRS</FONT>
Measures on a Consolidated Basis by Segment </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; margin-right:2%; font-size:9pt; font-family:arial"><FONT COLOR="#636466">The following table reflects adjusted EBITDA and adjusted earnings
before income taxes by segment and provides reconciliation to (loss) earnings before income taxes for the three months ended Sept. 30, 2025: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">


<TR>

<TD WIDTH="43%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>IFRS<BR>financials</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>95</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>326</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>158</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>619</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>615</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized mark-to-market (gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Revenues from Required Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange (gain) loss on
commodity</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted revenue</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>83</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>321</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>148</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>674</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>615</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>119</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>98</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>227</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>227</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power related to Required
Divestitures</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted fuel and purchased power</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>120</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>98</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>228</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>227</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance costs</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted gross margin</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>87</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>78</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>166</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>30</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>411</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(54</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>353</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>41</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>180</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A related to Required Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">ERP integration costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and
restructuring costs</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted OM&amp;A</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>34</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>171</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>179</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>73</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>110</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>238</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(52</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(59</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(137</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(135</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Equity loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(87</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(87</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Realized foreign exchange loss<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted earnings (loss) before income
taxes<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>51</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(125</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments above</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(80</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(63</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Fair value change in contingent consideration payable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and&nbsp;other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange gain<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Earnings (loss) before income
taxes</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>67</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(106</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>63</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(124</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA, adjusted earnings (loss) before income taxes are <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Realized and unrealized foreign exchange (loss) gain are supplementary financial measures.
Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more details. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M59</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:2%; font-size:9pt; font-family:arial"><FONT COLOR="#636466">The following table reflects adjusted EBITDA and adjusted
earnings before income taxes by segment and provides reconciliation to (loss) earnings before income taxes for the three months ended Sept. 30, 2024: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">


<TR>

<TD WIDTH="34%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marfieting</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>IFRS</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:6.5pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>financials</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">105</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">314</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">165</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">55</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">641</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">638</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized <FONT STYLE="white-space:nowrap">mark-to-market</FONT> (gain)
loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">74</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">59</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(59</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange gain on
commodity</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted revenue</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">106</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">77</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">317</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">157</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">709</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(68</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">638</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">100</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">104</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">213</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">213</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance costs</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">40</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">41</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted gross margin</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">102</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">72</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">177</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">52</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">455</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(68</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">384</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">144</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and
restructuring costs</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">43</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">143</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">10</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">89</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">44</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">141</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">34</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">315</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(53</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(52</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(17</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(135</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(133</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Equity income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">6</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(86</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(86</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(83</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Realized foreign exchange gain<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted earnings (loss) before income taxes<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">81</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">89</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">42</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(118</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">102</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments above</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(69</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Skookumchuk earnings reclass to Equity income<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(18</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(20</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(20</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange loss<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Earnings (loss) before income
taxes</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(82</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">45</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(130</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA, adjusted earnings (loss) before income taxes are <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Realized and unrealized foreign exchange (loss) gain are supplementary financial measures.
Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more details. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M60</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-right:2%; font-size:9pt; font-family:arial"><FONT COLOR="#636466">The following table reflects adjusted EBITDA and adjusted
earnings before income taxes by segment and provides reconciliation to (loss) earnings before income taxes for the nine months ended Sept. 30, 2025: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">


<TR>

<TD WIDTH="38%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>IFRS<BR>financials</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>310</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>169</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>920</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>385</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>102</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,820</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,806</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized mark-to-market (gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>182</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>198</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(198</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Revenues from Required Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange gain on
commodity</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted revenue</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>304</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>357</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>969</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>389</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2,045</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(225</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>1,806</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>388</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>247</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>677</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>677</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power related to Required
Divestitures</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted fuel and purchased power</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>24</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>386</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>247</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>675</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>677</B></FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance costs
(recovery)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(68</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted gross margin</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>288</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>331</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>507</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>142</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>92</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,360</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(227</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>1,119</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>82</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>188</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>135</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>528</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>525</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A related to Required Divestitures</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">ERP integration costs</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and
restructuring costs</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted OM&amp;A</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>82</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>183</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>28</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>113</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>501</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>525</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>36</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Insurance recovery</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466"><B>Adjusted net other operating
income</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>246</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>236</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>342</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>84</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>64</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(115</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>857</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(157</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(197</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(39</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(436</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(431</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Equity income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>21</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(270</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(270</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(266</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Realized foreign exchange loss<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted earnings (loss) before income
taxes<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>220</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>79</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>145</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>45</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(384</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>167</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments above</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(186</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(56</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(22</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(252</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Skookumchuk earnings reclass to Equity income<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Fair value change in contingent consideration payable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Asset impairment (charges) reversals</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and&nbsp;other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange loss<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Earnings (loss) before income
taxes</B></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>226</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(127</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>105</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>50</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>72</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(425</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466"><B>(99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA, adjusted earnings (loss) before income taxes are <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Realized and unrealized foreign exchange (loss) gain are supplementary financial measures.
Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more details. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M61</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2%; font-size:9pt; font-family:arial"><FONT COLOR="#636466">The following table reflects adjusted EBITDA and adjusted
(loss) earnings before income taxes by segment and provides reconciliation to (loss) earnings before income taxes for the nine months ended Sept. 30, 2024: </FONT></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">


<TR>

<TD WIDTH="39%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Hydro</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Wind&nbsp;&amp;<BR>Solar<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Gas</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Transition</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Energy<BR>Marketing</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Corporate</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Total</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Equity-<BR>accounted<BR>investments<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Reclass<BR>adjustments</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>IFRS<BR>financials</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Revenues</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">316</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">253</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1,031</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">461</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">154</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2,181</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2,167</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> (gain) loss</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(86</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(28</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(61</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">61</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(15</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange gain on
commodity</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted revenue</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">313</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">319</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">963</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">433</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">149</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2,143</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2,167</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">22</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">339</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">316</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">690</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">690</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Carbon compliance costs
(recovery)</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">106</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">73</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">73</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted gross margin</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">300</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">297</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">518</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">116</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">149</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,380</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">38</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,404</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">70</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">105</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">424</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">421</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments:</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.54em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and
restructuring costs</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">39</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">70</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">50</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">29</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">97</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">416</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">421</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Taxes, other than income taxes</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">27</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Net other operating income</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(30</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(37</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(37</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(2)(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">259</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">221</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">408</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">63</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">120</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(98</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">973</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Depreciation and amortization</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(23</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(143</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(163</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(48</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(393</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(388</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Equity income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">21</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(2</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">19</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(235</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(235</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(232</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Realized foreign exchange loss<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Adjusted earnings (loss) before income taxes<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">236</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">78</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">245</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">118</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(334</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">358</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Reclassifications and adjustments above</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(66</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">28</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Skookumchuk earnings reclass to Equity income<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(14</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(26</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and other</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange loss<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #171a5f;"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(5</FONT></TD>
<TD NOWRAP VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.62em; font-size:6.5pt; font-family:arial"><FONT COLOR="#636466">Earnings (loss) before income
taxes</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">239</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">318</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">123</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(348</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">370</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">370</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar
segment. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA, adjusted earnings (loss) before income taxes are <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the
impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:6.5pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Realized and unrealized foreign exchange (loss) gain are supplementary financial measures.
Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more details. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M62</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Reconciliation of (Loss) Earnings Before Income Taxes to Adjusted Net
(Loss) Earnings attributable to common shareholders </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The following table reflects reconciliation of (loss) earnings
before income taxes to adjusted net (loss) earnings attributable to common shareholders for the three and nine months ended Sept. 30, 2025 and Sept. 30, 2024: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="right" STYLE="padding-bottom:4pt ;"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="right" STYLE="padding-bottom:4pt ;"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8196;&#8202;(in millions of Canadian dollars except where noted)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>(Loss) earnings before income taxes</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(99</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">370</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Income tax expense</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">31</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">88</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net (loss) earnings</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(54</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(118</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">282</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net (loss) earnings attributable to
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Preferred share dividends</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>13</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net (loss) earnings attributable to common
shareholders</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(36</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(128</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">242</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjustments and reclassifications (pre-tax):</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjustments and reclassifications to Revenues</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">68</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>225</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(38</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjustments and reclassifications to Fuel and purchased power</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjustments and reclassifications to OM&amp;A</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjustments and reclassifications to Net other operating income</FONT></P></TD>

<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Fair value change in contingent consideration payable (gain)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Finance lease income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(6</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(17</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Asset impairment charges</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>27</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">20</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>55</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Gain on sale of assets and other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Unrealized foreign exchange (gain) loss<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>15</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Calculated tax (expense) recovery on
adjustments and reclassifications<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(16</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(22</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(62</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted net (loss) earnings attributable to
common shareholders<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>76</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">233</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Weighted average number of common shares
outstanding in the period</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>297</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">296</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>297</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">303</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net (loss) income per common share attributable to common
shareholders</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(0.20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(0.12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(0.43</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">0.80</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjustments and reclassifications (net of
tax)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.69</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(0.03</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted net (loss) earnings per common
share attributable to common shareholders<SUP STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(0.02</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.12</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.26</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.77</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Unrealized foreign exchange (gain) loss is a supplementary financial measure. Refer to the <FONT
STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more details. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Represents a theoretical tax calculated by applying the Company&#8217;s consolidated effective
tax rate of 23.3&nbsp;per cent for the three and nine months ended Sept. 30, 2025 (three and nine ended Sept. 30, 2024 &#8212; 23.3 per cent). The amount does not take into account the impact of different tax jurisdictions the Company&#8217;s
operations are domiciled and does not include the impact of deferred taxes. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted net (loss) earnings attributable to common shareholders and Adjusted net (loss) earnings
per common share attributable to common shareholders are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers.
The most directly comparable IFRS measures are net (loss) earnings attributable to common shareholders and net (loss) earnings per share attributable to common shareholders, basic and diluted. Refer to the
<FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more details. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M63</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Reconciliation of Cash Flow from Operations to FFO and FCF
</B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The table below reconciles our cash flow from operating activities to our FFO and FCF: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="right" STYLE="padding-bottom:4pt ;"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="right" STYLE="padding-bottom:4pt ;"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&#8196;&#8202;(in millions of Canadian dollars except where noted)</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Cash flow from operating activities<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>251</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">229</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>415</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">581</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Change in
<FONT STYLE="white-space:nowrap">non-cash</FONT> operating working capital balances</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(104</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(48</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>94</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">59</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow from operations before changes in working
capital</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>147</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">181</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>509</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">640</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjustments</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Share of adjusted FFO from joint venture<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Decrease in finance lease receivable</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">5</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>23</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">15</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Brazeau penalties payment</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>33</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">&#8212;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Acquisition-related transaction and restructuring costs</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>8</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other<SUP
STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>10</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FFO<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>156</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">191</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>587</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">681</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deduct:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Sustaining capital
expenditures<SUP STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(117</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dividends paid on preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Distributions paid to subsidiaries&#8217;
<FONT STYLE="white-space:nowrap">non-controlling</FONT> interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Principal payments on lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>105</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>421</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">529</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Weighted average number of common shares
outstanding in the period</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>297</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">296</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>297</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">303</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Cash flow from operating activities per
share</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.77</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1.92</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FFO per share<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.53</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.65</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.98</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">2.25</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF per share<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>0.35</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">0.44</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1.42</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1.75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes our share of amounts for the Skookumchuck wind facility, an equity-accounted joint
venture. Supplementary financial measure. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A for more details. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Other consists of production tax credits, which is a reduction to tax equity debt, less
distributions from an equity-accounted joint venture. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These items are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures, which are not defined
and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on
closed exchange positions and Australian interest income. Consequently the change had an impact on FFO and FCF. Therefore, the Company has applied this composition to all previously reported periods. Refer to the
<FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M64</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Reconciliation of Adjusted EBITDA to FFO and FCF </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The table below provides a reconciliation of our adjusted EBITDA to our FFO and FCF: </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="right" STYLE="padding-bottom:4pt ;"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="right" STYLE="padding-bottom:4pt ;"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Adjusted
EBITDA<SUP STYLE="font-size:75%; vertical-align:top">(1)(5)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>238</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">315</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>857</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">973</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Provisions</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(4</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">8</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Net interest
expense<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(62</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(204</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(167</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Current income tax recovery (expense)</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(63</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(57</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(123</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Realized foreign exchange (loss) gain<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(2</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Decommissioning and restoration costs settled</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(11</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(31</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(29</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other non-cash items</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>20</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD>
<TD HEIGHT="4" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FFO<SUP
STYLE="font-size:75%; vertical-align:top">(4)(5)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>156</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">191</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>587</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">681</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Deduct:</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:2pt">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Sustaining capital
expenditures<SUP STYLE="font-size:75%; vertical-align:top">(3)(5)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(37</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(35</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(117</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(75</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Dividends paid on preferred shares</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(14</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(13</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(40</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(39</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Distributions paid to subsidiaries&#8217; non-controlling
interests</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(3</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(34</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Principal payments on lease liabilities</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.11em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(5</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>FCF<SUP
STYLE="font-size:75%; vertical-align:top">(4)(5)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>105</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">131</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>421</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">529</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Adjusted EBITDA is defined in the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A and reconciled to (loss) earnings before income taxes above. During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on
closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Net interest expense is a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure, is not
defined and has no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the table below for detailed calculation. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Supplementary financial measure. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT>
and Supplementary Financial Measures section of this MD&amp;A for more details. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">These items are <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures, are not defined and
have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. FFO and FCF are defined in the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section of this
MD&amp;A and reconciled to cash flow from operating activities above. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes our share of amounts for the Skookumchuck wind facility, an equity-accounted joint
venture. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:14pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Net interest expense in the reconciliation of our adjusted EBITDA to our FFO and FCF is
calculated as follows: </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="84%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="right" STYLE="padding-bottom:4pt ;"><FONT COLOR="#171a5f"><B>3&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="right" STYLE="padding-bottom:4pt ;"><FONT COLOR="#171a5f"><B>9&nbsp;months&nbsp;ended&nbsp;Sept.&nbsp;30</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Interest expense</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>85</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">83</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>266</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">232</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Less: Interest Income</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(7</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(18</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(19</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Less: non-cash items<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(12</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(17</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(44</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(46</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Net Interest Expense</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>66</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">62</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>204</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">167</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f"><FONT STYLE="white-space:nowrap">Non-cash</FONT> items include accretion of provisions, financing
cost amortization, interest paid in kind and other <FONT STYLE="white-space:nowrap">non-cash</FONT> items. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M65</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Key <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Financial Ratios
</B></FONT></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. </FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;
</P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Adjusted Net Debt to Adjusted EBITDA </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">(in millions of Canadian dollars except where noted) </FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="92%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="bottom" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>&#8196;&#8202;As at</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Sept.&nbsp;30,&nbsp;2025</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="padding-bottom:3pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#171a5f"><B>Dec.&nbsp;31,&nbsp;2024</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Credit facilities, long-term debt and lease liabilities<SUP
STYLE="font-size:75%; vertical-align:top">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3,665</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">3,808</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Exchangeable debentures</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>350</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">350</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Less: Cash and cash equivalents</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(211</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">(337</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Add: Bank overdraft</FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>&#8212;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Add: 50&nbsp;per cent of issued preferred shares and exchangeable preferred
shares<SUP STYLE="font-size:75%; vertical-align:top">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>671</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;" ALIGN="right"><FONT COLOR="#636466">671</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#636466">Other<SUP
STYLE="font-size:75%; vertical-align:top">(3)</SUP></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>(19</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>)&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">(24</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted net debt<SUP
STYLE="font-size:75%; vertical-align:top">(4)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>4,456</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">4,469</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted EBITDA<SUP
STYLE="font-size:75%; vertical-align:top">(5)</SUP></B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>1,139</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">1,255</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4" BGCOLOR="#f0f0f0"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:9pt">
<TD VALIGN="top" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.44em; font-size:9pt; font-family:arial"><FONT COLOR="#43c5e4"><B>Adjusted net debt to adjusted EBITDA
(times)</B></FONT></P></TD>
<TD VALIGN="bottom" BGCOLOR="#f0f0f0" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0" ALIGN="right"><FONT COLOR="#636466"><B>3.9</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" BGCOLOR="#f0f0f0"><FONT COLOR="#636466"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #171a5f;">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;" ALIGN="right"><FONT COLOR="#636466">3.6</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="padding-bottom:2pt ;BORDER-BOTTOM:1px solid #171a5f;"><FONT COLOR="#636466">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Consists of current and <FONT STYLE="white-space:nowrap">non-current</FONT> portions of long-term
debt, which includes lease liabilities and tax equity financing. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">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 consolidated financial statements. For purposes of this ratio, we consider 50&nbsp;per cent of issued preferred shares, including exchangeable preferred
shares, as debt. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(3)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Includes principal portion of TransAlta OCP restricted cash ($17&nbsp;million as at Sept. 30,
2025 and $17&nbsp;million as at Dec. 31, 2024) and fair value of hedging instruments on debt (included in risk management assets and/or liabilities on the Condensed Consolidated Statements of Financial Position). </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(4)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">The tax equity financing for the Skookumchuck wind facility, an equity-accounted joint venture,
is not represented in this amount. Adjusted net debt is a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure, is not defined and has no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers.
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. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section of this MD&amp;A. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:7pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT COLOR="#171a5f">(5)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:7pt; font-family:arial; " ALIGN="justify"><FONT COLOR="#171a5f">Last four quarters. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s capital is managed using a net debt position. We use the adjusted
net debt to adjusted EBITDA ratio as a measurement of financial leverage and to assess our ability to service debt. Our target for adjusted net debt to adjusted
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
EBITDA is 3.0 to 4.0 times. Our adjusted net debt to adjusted EBITDA ratio for Sept. 30, 2025 was higher compared to Dec.&nbsp;31, 2024, due to lower trailing twelve months adjusted EBITDA as at
Sept. 30, 2025 as compared to Dec. 31, 2024. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M66</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_19"></A>Material Accounting Policies and Critical
Accounting Estimates </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the nine months ended Sept. 30, 2025, revisions to the fair values of Assets held for sale and Contingent consideration
payable were made based on new information obtained during the period. For details refer to Note 5 of the Company&#8217;s unaudited interim condensed consolidated financial statements as at and for the nine months ended Sept. 30, 2025. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Valuation of PP&amp;E and Goodwill </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">An assessment is made at each reporting date as to whether there is any indication that an impairment loss may exist or that a
previously recognized impairment loss may no longer exist or may have decreased. An impairment exists when the carrying amount of an asset exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in
use. An impairment loss recognized in a prior period is reversed if there has been a change in the estimates used to determine the asset&#8217;s recoverable amount. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the three and nine months ended Sept. 30, 2025, internal valuations indicated the carrying values of four wind facilities
exceeded their fair value less costs of disposal primarily due to updated production profiles and lower power price assumptions, which unfavourably impacted estimated future cash flows and resulted in an impairment charge of $37&nbsp;million. The
recoverable amount of $363&nbsp;million for these four facilities was estimated based on fair value less costs of disposal using a discounted cash flow model and was categorized as a Level III fair value measurement. The
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
discount rates used in the fair value measurements were in the range of 5.53 to 7.24&nbsp;per cent. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the three and nine months ended Sept. 30, 2025, the Company recognized impairment reversals for one wind facility and one
solar facility, which had been previously impaired. The impairment reversals of $17&nbsp;million were primarily due to changes in power price assumptions which favourably impacted estimated future cash flows. The recoverable amount of
$233&nbsp;million for these two facilities was estimated based on fair value less costs of disposal using a discounted cash flow model and was categorized as a Level III fair value measurement. The discount rates used in the fair value measurements
were in the range of 6.10 to 7.24&nbsp;per cent. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the three months ended Sept. 30, 2025, for the purposes of the
2025 goodwill impairment review, the Company determined the recoverable amounts of Hydro, Wind and Solar, Gas and Energy Marketing segments by calculating the fair value less costs of disposal using discounted cash flow projections. The recoverable
amounts are based on the Company&#8217;s long-range forecasts for the periods extending to the last planned asset retirement in 2086. The resulting fair value measurements are categorized within Level III of the fair value hierarchy. No impairment
of goodwill arose for any segment. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During three and nine months ended Sept. 30, 2025, there were no significant changes
in estimates, however, significant estimation uncertainty and judgment is applied in determining the recoverable amount of the Hydro, Wind and Solar, Gas and Energy Marketing segments, due to the sensitivity of the significant assumptions to the
future cash flows and the effect that changes in these assumptions would have on the recoverable amount. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Refer to Note
2(Q)(II) of the Company&#8217;s 2024 audited annual consolidated financial statements for further details on the significant accounting judgments and key sources of estimation uncertainty.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M67</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_20"></A>Accounting Changes </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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, 2024. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Future Accounting Changes </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Amendments to IFRS 7 and IFRS 9 &#8212; Nature-Dependent Electricity Contracts </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Dec. 18, 2024, the IASB issued amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosure to improve
reporting of the financial effects of nature-dependent electricity (e.g., wind and solar) contracts, which are often structured as power purchase agreements. Under these contracts, the amount of electricity generated can vary based on uncontrollable
factors such as weather conditions. The amendments clarify the application of <FONT STYLE="white-space:nowrap">own-use</FONT> requirements, permit hedge accounting if these contracts are used as hedging instruments and add new disclosure
requirements about the effect of these contracts on a company&#8217;s financial performance and cash flows. The amendments are effective for annual reporting periods beginning on or after Jan. 1, 2026. The Company is currently evaluating the impacts
to the financial statements and such impacts cannot be reasonably estimated at this time.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Amendments to IFRS 7 and IFRS 9 &#8212; Classification and Measurement of Financial Instruments
</B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;29, 2024, the IASB issued Amendments to the Classification and Measurement of Financial Instruments
effective Jan. 1, 2026 impacting IFRS 7 and 9. The IASB amended the requirements related to settling financial liabilities using an electronic payment system and assessing contractual cash flow characteristics of financial assets, including those
with <FONT STYLE="white-space:nowrap">ESG-linked</FONT> features. The Company is currently evaluating the impacts to the financial statements and such impacts cannot be reasonably estimated at this time. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>IFRS 18 &#8212; Presentation and Disclosure in Financial Statements </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Apr. 9, 2024, the IASB issued a new standard, IFRS 18 Presentation and Disclosure in Financial Statements, which introduced new
requirements for improved comparability in the statement of profit or loss, enhanced transparency of management-defined performance measures and more useful grouping of information in the financial statements. The standard is effective for annual
reporting periods beginning on or after Jan. 1, 2027. The Company is currently evaluating the impacts to the financial statements and such impacts cannot be reasonably estimated at this time.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>
 <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_21"></A>Governance and Risk Management </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
the political environments and structures with which we interact. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Please refer to the Governance and Risk Management section of our 2024 Annual MD&amp;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.&nbsp;31, 2024.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M68</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_22"></A>Regulatory Updates </B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Refer to the Policy and Legal Risks discussion in our 2024 Annual MD&amp;A for
further details that supplement the recent developments as discussed below: </FONT></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Canada </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Federal </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The
Government of Canada has set objectives for carbon emissions reductions, including a 45 to 50&nbsp;per cent national emissions reduction over 2005 levels by 2035, a <FONT STYLE="white-space:nowrap">net-zero</FONT> electricity grid by 2035 and a <FONT
STYLE="white-space:nowrap">net-zero</FONT> national economy by 2050. The government has utilized several policy tools to achieve its emissions objectives, including but not limited to, carbon pricing, emissions performance regulations, funding for
industrial energy transition, and incentives for consumers. The federal requirement for a consumer carbon price was removed on April&nbsp;1, 2025; however, the requirement for industrial carbon pricing remains in place. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Canada&#8217;s provinces have jurisdiction over their respective electricity sectors and play an important role in setting
industrial carbon pricing policy and emissions performance standards, subject to equivalency requirements with the federal government&#8217;s carbon pricing regime, pursuant to its authority to set national carbon pricing standards. Jurisdictional
responsibilities between the federal and provincial governments enable both levels of government to implement policies that impact our sector. Leadership changes at either level of government can influence policy direction. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A federal election occurred on April&nbsp;28, 2025, resulting in a minority government for the Liberal Party of Canada. TransAlta
continues to monitor policy developments related to our business, including but not limited to the Clean Electricity Regulations, Investment Tax Credits, industrial carbon pricing, as well as funding for
<FONT STYLE="white-space:nowrap">net-zero</FONT> technologies. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Alberta </B></FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the first quarter of 2025, the Government of Alberta commenced consultation on the Technology Innovation and Emissions
Reduction Regulation (TIER) in advance of the scheduled program review in 2026. The TIER program has been in place since 2007 and is expected to be maintained going forward. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In the second quarter of 2025, the provincial government announced its intention to indefinitely freeze the industrial carbon price
at $95 per tonne, rather than proceed with annual increases as set out in a previous Ministerial Order. This change is scheduled to be implemented in 2026, in alignment with the federal carbon pricing regime. TransAlta continues to monitor this
development. </FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In the third quarter of 2025, the Government of Alberta introduced proposed
amendments to the Technology Innovation and Emissions Reduction (TIER) regulation. Key elements of the proposal include the recognition of <FONT STYLE="white-space:nowrap">on-site</FONT> emissions reduction investments as an additional compliance
pathway under the TIER system, and the option for smaller facilities currently participating in the program to opt out for the 2025 compliance year, with the stated intent of reducing administrative burden and costs. The Government of Alberta has
indicated that formal amendments to the regulation will be drafted and incorporated in 2025. Further details are expected to be released upon finalization of the regulatory changes. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During 2025, the Government has carried out legislative changes to implement the Restructured Energy Market (REM), which has
included amendments to the Electric Utilities Act and Transmission Regulation. During the third quarter of 2025, the AESO finalized the REM design and issued a draft of the detailed market rules to implement the REM. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On July&nbsp;10, 2025, the Minister of Affordability and Utilities (Minister) issued a letter to the AESO that directed the AESO to
implement locational marginal pricing in Alberta and allocate financial transmission rights to <FONT STYLE="white-space:nowrap">in-service</FONT> generating units and those that have made a financial investment decision on or before July&nbsp;9,
2025 (Incumbent Generators). Financial transmission rights will provide mitigation to Incumbent Generators that could be exposed to lower pricing due to the adoption of locational marginal pricing, allowing those generators to be paid at the
system-wide price. The financial transmission rights will be allocated to Incumbent Generators for fixed volume and for a period of eight years unless the asset retires before the eight year period expires. The Minister has directed the AESO to
collect stakeholder feedback and provide advice to the Minister regarding these items. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Aug. 27, 2025, the AESO
published the Restructured Energy Market (REM) Final Design, outlining key market reforms including an increase in the price cap, phased changes to the energy offer cap and floor, introduction of a new
<FONT STYLE="white-space:nowrap">30-minute</FONT> real-time ramping product, adoption of locational marginal pricing, a revised secondary offer cap, a new local market power mechanism, a reliability unit commitment process for long lead time assets,
and changes to the procurement of <FONT STYLE="white-space:nowrap">day-ahead</FONT> operating reserves market. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The AESO
is engaging with industry stakeholders on the REM market rules over the remainder of 2025 and it is expected that Ministerial approval of those rules will be required by the first quarter of 2026. TransAlta continues to be actively involved in all
AESO consultation processes regarding the REM and associated initiatives. At this time, the AESO plans to carry
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M69</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">out information technology system development work over 2026 and 2027 with the intent
to implement REM in 2027 or 2028. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On June&nbsp;4, 2025, the AESO advised that 1,200 MW of large load hosting capacity
will be made available for Phase I data centre development with <FONT STYLE="white-space:nowrap">in-service</FONT> dates in 2027 and 2028. The AESO will complete the finalization of the allocation process during the fourth quarter of 2025. In
tandem, the Government of Alberta and AESO are proceeding with the design requirements for Phase II of data centre developments; this will apply to data centre projects that have <FONT STYLE="white-space:nowrap">in-service</FONT> dates in 2028 and
beyond. Finalization of the Phase II design is expected to occur in 2025. TransAlta is actively engaged with the AESO and stakeholders on large load connection and data centre development in the province. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:arial"><FONT COLOR="#171a5f"><B>Ontario </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On
Aug. 14, 2025, the Ontario Ministry of the Environment, Conservation and Parks finalized amendments to the Emissions Performance Standard regulation under the Environmental Protection Act, R.S.O. 1990. The amendments, introduced in response to
federal changes, provide increased flexibility for voluntary participants to exit the Emissions Performance Standard program. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>United
States </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">During the nine months ended Sept. 30, 2025, President Trump signed a number of executive orders seeking to
enable or continue the development and operation of thermal generation in the country, as well as limiting the development of renewable electricity generation. Related to existing thermal generation, the U.S. Department of Energy has issued
emergency orders requiring a number of thermal generating facilities to stay online, citing reliability concerns. In terms of renewable energy development, federal agency actions have continued. In the first quarter of 2025, the Department of the
Interior took action related to delaying wind permits for both offshore and land-based developments. Starting in the third quarter of 2025, actions have expanded to include both solar and wind energy permits and approvals, involving orders or
directives from multiple federal agencies, including the U.S.&nbsp;Departments of Interior, Transportation and Treasury and U.S. Army Corps of Engineers.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On July&nbsp;4, 2025, President Trump signed into law a budget reconciliation bill,
the &#8220;One Big Beautiful Bill&#8221; Act (Bill), which significantly reduced the availability of federal tax credits for renewable technologies established under the Inflation Reduction Act (IRA) of 2022. IRA tax credits for wind and solar were
substantially rolled back as part of the Bill. The Bill retained the 100&nbsp;per cent value tax credits for wind and solar through 2027, provided that the projects are placed in service by Dec. 31, 2027. An exception applies for wind and solar
projects that start construction by July&nbsp;3, 2026 and complete construction by 2030. On Aug. 15, 2025, the Internal Revenue Service (IRS) revised its guidance for &#8220;begin of construction&#8221; rules for wind and solar tax credits. The
guidance removed the five per cent safe harbor method and left intact the physical work test to begin construction. The four-year construction continuity safe harbor remains in place; it allows projects to qualify for tax credits if placed in
service up to four full calendar years after construction begins. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Bill also introduces supply chain limitations on
project components from foreign entities of concern which may receive additional guidance from the IRS. The Bill retains the IRA&#8217;s favourable transferability provisions, preserving the ability to sell or transfer credits for the full duration
of the credit. Additionally, the Bill provides favourable treatment for energy storage with full tax credits available for projects starting construction before 2033. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In addition to federal actions, state and regional renewable and climate policies continue to have a significant impact on the pace
of energy transition in the country. The Company continues to assess actions at all levels of government as they emerge. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Australia
</B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On March&nbsp;8, 2025, a state election occurred in Western Australia. The Labor government, led by Premier Roger
Cook won a third consecutive four-year term. The <FONT STYLE="white-space:nowrap">re-election</FONT> of the Labor government is expected to provide continued stability in the state. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Australian federal election was held on May&nbsp;3, 2025. The Labor Party secured a majority government and a second term. The
results are not expected to have a significant impact on TransAlta. </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M70</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_23"></A>Disclosure Controls and Procedures
</B></FONT></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Management is responsible for establishing and maintaining adequate internal control
over financial reporting (ICFR) and disclosure controls and procedures (DC&amp;P). During the three and nine months ended Sept. 30, 2025, the majority of our workforce supporting and executing our ICFR and DC&amp;P continue to work on a hybrid
basis. The Company has implemented appropriate controls and oversight for both <FONT STYLE="white-space:nowrap">in-office</FONT> and remote work. There has been minimal impact to the design and performance of our internal controls. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">ICFR is a framework designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
the consolidated financial statements for external purposes in accordance with IFRS. Management has used the Internal Control &#8211; Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013
framework) to assess the effectiveness of the Company&#8217;s ICFR. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">DC&amp;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&amp;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></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Together, the ICFR and DC&amp;P frameworks provide internal control over financial reporting and disclosure. In designing and
evaluating our ICFR and DC&amp;P, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">
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></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">In accordance with the provisions of National Instrument (NI) <FONT STYLE="white-space:nowrap">52-109</FONT> and consistent with
U.S. Securities and Exchange Commission guidance, the scope of the evaluation did not include internal controls over financial reporting of Heartland, which the Company acquired on Dec. 4, 2024. Heartland was excluded from management&#8217;s
evaluation of the effectiveness of the Company&#8217;s internal control over financial reporting as at Dec. 31, 2024, due to the proximity of the acquisition to <FONT STYLE="white-space:nowrap">year-end.</FONT> Further details related to the
acquisition are disclosed in Note 4 to the Company&#8217;s Consolidated Financial Statements for the year ended Dec. 31, 2024. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Consistent with the evaluation at Dec. 31, 2024, the scope of the evaluation as at Sept. 30, 2025 does not include controls over financial reporting of the assets acquired through the Heartland acquisition on Dec. 4, 2024.
Heartland&#8217;s total and net assets represented approximately seven and 20&nbsp;per cent of the Company&#8217;s total and net assets, respectively, as at Sept.&nbsp;30, 2025 and 14 and 35&nbsp;per cent of the Company&#8217;s revenues and net
loss, respectively, for the nine months ended Sept. 30, 2025. </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Management has evaluated, with the participation of our
Chief Executive Officer and Chief Financial Officer, the effectiveness of our ICFR and DC&amp;P as of the end of the period covered by this MD&amp;A. Based on the foregoing evaluation, our Chief Executive Officer and Chief Financial Officer have
concluded that, as at Sept. 30, 2025, the end of the period covered by this MD&amp;A, our ICFR and DC&amp;P were effective.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M71</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:arial"><FONT COLOR="#43c5e4"><B><A NAME="sdm938159_24"></A>Glossary of Key Terms </B></FONT></P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Alberta Electric System Operator (AESO) </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The independent system operator and regulatory authority for the Alberta Interconnected Electric System. authority for the Alberta
Interconnected Electric System. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Alberta Hydro Assets </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The Company&#8217;s hydroelectric assets, owned through a wholly owned subsidiary, TransAlta Renewables Inc. These assets are
located in Alberta and consist of the Barrier, Bearspaw, Cascade, Ghost, Horseshoe, Interlakes, Kananaskis, Pocaterra, Rundle, Spray, Three Sisters, Bighorn and Brazeau hydro facilities. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Ancillary Services </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">As defined by the Electric Utilities Act (Alberta), 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></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Availability </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Capacity </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">The rated continuous load-carrying ability, expressed in megawatts, of generation equipment. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Cogeneration </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Derate </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">To lower the rated electrical capability of a power generating facility or unit.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Disclosure Controls and Procedures (DC&amp;P) </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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&amp;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></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Dispatch optimization </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Power is not produced during periods of low market price, but if required, is purchased in the market to fulfil contract
obligations. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Exchangeable Debentures </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On May&nbsp;1, 2019, Brookfield Renewable Partners or its affiliates (collectively, Brookfield) invested $350&nbsp;million in
exchange for seven per cent unsecured subordinated debentures due May&nbsp;1, 2039. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Exchangeable Preferred Shares </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">On Oct. 30, 2020, Brookfield invested $400&nbsp;million in the Company in exchange for redeemable, retractable first preferred
shares (Series I). The Series I Preferred Shares are accounted for as current debt and the exchangeable preferred share dividends are reported as interest expense. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Exchangeable Securities </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Exchangeable Debentures and the Exchangeable Preferred Shares which are exchangeable into an equity ownership interest in TransAlta&#8217;s Alberta hydro assets in the future at a value based on a multiple of the Alberta Hydro
Assets&#8217; future-adjusted EBITDA (Option to Exchange). </FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M72</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="right"><FONT COLOR="#171a5f"><B>Management&#8217;s Discussion and Analysis&#8195; </B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Free Cash Flow (FCF) </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Represents the amount of cash that is available to invest in growth initiatives, make scheduled debt principal repayments on debt,
repay maturing debt, pay common share dividends or repurchase common shares and provides the ability to evaluate cash flow trends in comparison with the results from prior periods. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and
Supplementary Financial Measures section for additional information. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Funds from Operations (FFO) </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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. Refer to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> and Supplementary Financial Measures section for additional information. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Gigajoule (GJ) </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">A metric unit of energy commonly used in the energy industry. One GJ equals 947,817 British Thermal Units (Btu). One GJ is also equal to 277.8 kilowatt hours (kWh). </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Gigawatt (GW) </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">A measure of electric power equal to 1,000 megawatts. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Gigawatt hour (GWh) </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A measure of electricity consumption equivalent to the use of 1,000 megawatts of power over a period of one hour. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Greenhouse Gas (GHG) </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">A gas that has the potential to retain heat in the atmosphere, including water vapour, carbon dioxide, methane, nitrous oxide, hydrofluorocarbons and perfluorocarbons. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Heartland Credit Facilities </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">As part of the Heartland acquisition on Dec. 4, 2024, the Company assumed a $232&nbsp;million drawn term facility and a $25&nbsp;million revolving facility with a syndicate of banks, (collectively, the Heartland Credit Facilities).
</FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>ICFR </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">Internal control over financial reporting. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>IFRS </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">International Financial Reporting Standards.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Megawatt (MW) </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A measure of electric power equal to 1,000,000 watts. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Megawatt Hour (MWh) </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">A measure of electricity consumption equivalent to the use of 1,000,000 watts of power over a period of one hour. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Merchant </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A
term used to describe assets that are not contracted and are exposed to market pricing. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>NCIB </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Normal Course Issuer Bid. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>OM&amp;A </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Operations, maintenance and administration costs. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Other Hydro Assets </B></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company&#8217;s hydroelectric assets located in British Columbia, Ontario which include the Taylor, Belly River, Waterton, St. Mary, Upper Mamquam, Pingston, Bone Creek, Akolkolex, Ragged Chute, Misema, Galetta, and Moose Rapids
facilities. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Planned outage </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Power Purchase Agreement (PPA) </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A long-term commercial agreement for the sale of electric energy to PPA buyers. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>PP&amp;E </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">Property, plant and equipment. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT
 COLOR="#40ac48"><B>Renewable Energy Credits (REC) </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">All right, title, interest and benefit in and to any credit,
reduction right, offset, allocated pollution right, emission reduction allowance, renewable attribute or other proprietary or contractual right, whether or not tradable, resulting from the actual or assumed displacement or reduction of emissions, or
other environmental characteristic, from the production of one MWh of electrical energy from a facility utilizing certified renewable energy technology.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="96%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-size:6.5pt" COLOR="#171a5f"><B>TransAlta Corporation&#8195;&#8195;&#8195;&#8195;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><FONT COLOR="#171a5f"><B>M73</B></FONT></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="98%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:arial"><FONT COLOR="#171a5f"><B>&#8195;Management&#8217;s Discussion and Analysis</B></FONT></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P><DIV STYLE="position:relative;float:left; width:48%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Required Divestitures </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">To meet the requirements of the federal Competition Bureau related to the Heartland Generation acquisition, the Company entered into
a consent agreement with the Commissioner of Competition, pursuant to which TransAlta agreed to divest Heartland&#8217;s Poplar Hill and Rainbow Lake facilities (the Required Divestitures) following closing of the acquisition of Heartland
Generation. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>TA Cogen </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The Company owns 50.01&nbsp;per cent in TransAlta Cogeneration, L.P. (TA Cogen), which owns, operates or has an interest in a portfolio of cogeneration facilities, including three <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">natural-gas-fired</FONT></FONT> cogeneration facilities (Ottawa, Windsor and Fort Saskatchewan) and a <FONT STYLE="white-space:nowrap">natural-gas-fired</FONT> facility (Sheerness). </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Term Facility </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The former $400&nbsp;million term facility with our banking syndicate and original maturity on Sept. 7, 2025, bearing floating interest rates that varied depending on the option selected (e.g., Canadian prime and bankers&#8217;
acceptances). On March 25, 2025, the Company repaid the term facility in advance of the scheduled maturity date with the proceeds received from the $450&nbsp;million senior notes offering.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:49%;padding-right:0%;padding-bottom:8pt;overflow:visible;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Turbine </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">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></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Unplanned outage </B></FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT
 COLOR="#636466">The shutdown of a generating unit due to an unanticipated breakdown. </FONT></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:13pt; font-family:arial"><FONT COLOR="#40ac48"><B>Value at Risk (VaR) </B></FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:arial" ALIGN="justify"><FONT COLOR="#636466">A measure used to manage exposure to market risk from commodity risk management activities.
</FONT></P></div><div style="clear:both; height:0pt; font-size:0pt">&nbsp;</div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="99%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:7pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:6.5pt" ALIGN="center">

<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="19%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:6.5pt">
<TD VALIGN="top"><FONT STYLE="font-size:7pt" COLOR="#171a5f"><B>M74</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#171a5f"><B>&#8195;&#8195;&#8195;&#8195;TransAlta&nbsp;Corporation</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SHORT FORM BASE SHELF PROSPECTUS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><U><I>New Issue and/or Secondary Offering</I></U></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">December&nbsp;9, 2025</TD></TR>
</TABLE> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g938159g04a04.jpg" ALT="LOGO" STYLE="width:2.87in;height:0.513333in;">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>TRANSALTA CORPORATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Common Shares </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>First
Preferred Shares </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Warrants </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Subscription Receipts </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Debt Securities </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Units
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We may from time to time, during the <FONT STYLE="white-space:nowrap">37-month</FONT> period that this short form base shelf prospectus, including any
amendments hereto (the &#8220;<B>Prospectus</B>&#8221;) remains valid, offer and issue: (i)&nbsp;common shares (&#8220;<B>Common</B><B> </B><B>Shares</B>&#8221;); (ii) first preferred shares (&#8220;<B>First Preferred Shares</B>&#8221;); (iii)
warrants to purchase Common Shares, First Preferred Shares or other securities (&#8220;<B>Warrants</B>&#8221;); (iv) subscription receipts that entitle the holder thereof to receive, upon satisfaction of certain release conditions, and for no
additional consideration, securities (&#8220;<B>Subscription Receipts</B>&#8221;); (v) debt securities, which may consist of debentures, notes or other types of debt and may be issuable in one or more series (&#8220;<B>debt</B><B>
</B><B>securities</B>&#8221;); (vi) units (&#8220;<B>units</B>&#8221;) comprised of one or more of such securities (the Common Shares, First Preferred Shares, Warrants, Subscription Receipts, debt securities and units are collectively referred to
herein as the &#8220;<B>Securities</B>&#8221;); or (vii)&nbsp;any combination of Securities. Eagle Hydro II LP (&#8220;<B>Eagle Hydro II</B>&#8221;) or certain other affiliates of Brookfield Asset Management Inc. (&#8220;<B>Brookfield</B>&#8221; and
collectively, the &#8220;<B>Selling Shareholde</B>r&#8221;) may also offer and sell Common Shares from time to time pursuant to this Prospectus. See &#8220;<I>Selling Shareholder</I>&#8221;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions and other factors. The
specific terms of any offering of Securities will be set forth in one or more prospectus supplements (each, a &#8220;<B>Prospectus Supplement</B>&#8221;). We reserve the right to include in a Prospectus Supplement specific terms pertaining to the
Securities being offered that are not within the options and parameters set forth in this Prospectus, provided that such Securities will not be specified derivatives or asset-backed securities. You should read this Prospectus and any applicable
Prospectus Supplement carefully before you invest in any Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All information permitted under applicable laws to be omitted from this Prospectus
will be contained in one or more Prospectus Supplements that, together with this Prospectus, will be delivered to purchasers of the applicable Securities, except where an exemption from such delivery requirements is available. Each Prospectus
Supplement will be incorporated by reference into this Prospectus for the purposes of securities legislation as of the date of the applicable Prospectus Supplement and only for the purposes of the distribution of the Securities to which the
applicable Prospectus Supplement pertains. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our outstanding Common Shares are listed on the Toronto Stock Exchange (&#8220;<B>TSX</B>&#8221;) under the
symbol &#8220;TA&#8221; and on the New York Stock Exchange (&#8220;<B>NYSE</B>&#8221;) under the symbol &#8220;TAC&#8221;. On December&nbsp;8, 2025, the last completed trading day prior to the date of this Prospectus, the closing price of the Common
Shares on the TSX and the NYSE was $19.56 and US$14.12, respectively. Our outstanding First Preferred Shares, other than our redeemable first preferred shares, Series&nbsp;I, are listed on the TSX. Our cumulative redeemable rate reset first
preferred shares, Series A (&#8220;<B>Series A Shares</B>&#8221;), our cumulative redeemable floating rate first preferred shares, Series B (&#8220;<B>Series B Shares</B>&#8221;), our cumulative redeemable rate reset first preferred shares, Series C
(&#8220;<B>Series C</B> </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
<B>Shares</B>&#8221;), our cumulative redeemable floating rate first preferred shares, Series D (&#8220;<B>Series D Shares</B>&#8221;), our cumulative redeemable rate reset first preferred
shares, Series E (&#8220;<B>Series</B><B> </B><B>E</B><B> </B><B>Shares</B>&#8221;) and our cumulative redeemable rate reset first preferred shares, Series G (&#8220;<B>Series G Shares</B>&#8221;) are listed and traded on the TSX under the symbols
&#8220;TA.PR.D&#8221;, &#8220;TA.PR.E&#8221;, &#8220;TA.PR.F&#8221;, &#8220;TA.PR.G&#8221;, &#8220;TA.PR.H&#8221; and &#8220;TA.PR.J&#8221;, respectively. On December&nbsp;8, 2025, the last completed trading day prior to the date of this Prospectus,
the closing prices of the Series A Shares, the Series B Shares, the Series C Shares, the Series D Shares, the Series E Shares and the Series G Shares on the TSX were $19.81, $19.93, $24.74, $24.24, $25.56 and $25.84, respectively. <B>Unless
otherwise specified in the applicable Prospectus Supplement, the First Preferred Shares, Warrants, Subscription Receipts, debt securities and units will not be listed on any securities or stock exchange. There is currently no market through which
additional series of First Preferred Shares, Warrants, Subscription Receipts, debt securities or units may be sold and purchasers may not be able to resell such Securities purchased under this Prospectus. This may affect the pricing of such
Securities in the secondary market, the transparency and availability of trading prices, the liquidity of the Securities, and the extent of issuer regulation. See &#8220;</B><B><I>Plan of Distribution</I></B><B>&#8221; and &#8220;</B><B><I>Risk
Factors</I></B><B>&#8221;.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We may offer and sell the Securities and the Selling Shareholder may offer and sell Common Shares to or through
underwriters or dealers purchasing as principals, directly to one or more purchasers or through agents. See &#8220;<I>Plan of Distribution</I>&#8221;. This Prospectus may qualify an
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#8220;at-the-market</FONT></FONT> distribution&#8221; as defined in National Instrument <FONT STYLE="white-space:nowrap">44-102</FONT> &#8211; <I>Shelf Distributions
</I>(&#8220;<B>NI <FONT STYLE="white-space:nowrap">44-102</FONT></B>&#8221;). The Prospectus Supplement relating to a particular offering of Securities will identify each underwriter, dealer or agent engaged by TransAlta in connection with the
offering and sale of the Securities, or by the Selling Shareholder in connection with the offering and sale of Common Shares, as applicable, and will set forth the terms of the offering of such Securities, including the method of distribution, the
proceeds to us and/or the Selling Shareholder and any fees, discounts or any other compensation payable to the underwriters, dealers or agents and any other material terms of the plan of distribution. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No underwriter, dealer or agent has been involved in the preparation of this Prospectus or performed any review of the contents of this Prospectus.
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Securities may be sold from time to time in one or more transactions at a fixed price or fixed prices, or at
<FONT STYLE="white-space:nowrap">non-fixed</FONT> prices. If offered on a <FONT STYLE="white-space:nowrap">non-fixed</FONT> price basis, Securities may be offered at market prices prevailing at the time of sale or at prices to be negotiated with
purchasers at the time of sale, including sales in transactions that are <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#8220;at-the-market</FONT></FONT> distributions&#8221;, including sales made directly on the TSX, the NYSE or
other existing trading markets for the Securities, and as set out in the applicable Prospectus Supplement. The prices at which Securities may be offered may vary between purchasers and during the period of distribution. If Securities are offered on
a <FONT STYLE="white-space:nowrap">non-fixed</FONT> price basis, the underwriters&#8217;, dealers&#8217; or agents&#8217; compensation will be increased or decreased by the amount by which the aggregate price paid for Securities by purchasers
exceeds or is less than the gross proceeds paid by the underwriters, dealers or agents to us and/or the Selling Shareholder, as applicable. <B>See </B><B>&#8220;</B><B><I>Plan of Distribution</I></B><B>&#8221;</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with any offering of Securities, other than an
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#8220;at-the-market</FONT></FONT> distribution&#8221;, the underwriters, dealers or agents may over-allot or effect transactions which stabilize or maintain the market price of the
Securities at a level above that which might otherwise prevail in the open market. Such transactions may be commenced, interrupted or discontinued at any time. See &#8220;<I>Plan of Distribution</I>&#8221;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investing in the Securities involves risks. Prospective investors should carefully consider these risks before purchasing Securities. See &#8220;<I>Risk
Factors</I>&#8221;. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>We are permitted, under a multijurisdictional disclosure system adopted by the United States (&#8220;U.S.&#8221;), to prepare this
prospectus in accordance with Canadian disclosure requirements. Prospective investors should be aware that such requirements are different from those of the U.S. In addition, we prepare our financial statements in accordance with International
Financial Reporting Standards as issued by the International Accounting Standards Board. As a result, our financial statements may not be comparable to&nbsp;financial statements of U.S. companies. </B></P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Prospective investors should be aware that the purchase of Securities may have tax consequences both in
Canada and in the U.S. This Prospectus and any applicable Prospectus Supplement may not describe these tax consequences fully. Prospective investors should carefully review the tax disclosure, if any, in the applicable Prospectus Supplement and in
any event consult with a tax adviser. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Your ability to enforce civil liabilities under U.S. federal securities laws may be affected adversely by
the fact that we are incorporated under the laws of Canada, that some or all of our officers and directors may be residents of Canada, that some or all of the experts named in this Prospectus may be residents of Canada and that all or a substantial
portion of our assets and the assets of such persons are located outside the U.S. See &#8220;</B><B><I>Enforceability of Civil Liabilities</I></B><B>&#8221;. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE&nbsp;&#8220;SEC&#8221;) OR ANY STATE SECURITIES
COMMISSION NOR HAS THE SEC OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of December 8, 2025, TransAlta has qualifying public equity (as defined in NI <FONT STYLE="white-space:nowrap">44-102)</FONT> of $5,923,709,715 and
therefore qualifies as a &#8220;well-known seasoned issuer&#8221; under NI <FONT STYLE="white-space:nowrap">44-102.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Alan J. Fohrer, Laura W. Folse
and Thomas M. O&#8217;Flynn are directors of the Corporation who reside outside of Canada and each of these directors has appointed TransAlta as agent for service of process at Suite 1400, 1100 &#8211; 1st Street SE, Calgary, Alberta T2G 1B1.
Purchasers are advised that it may not be possible for investors to enforce judgments obtained in Canada against any person who resides outside of Canada, even if the party has appointed an agent for service of process. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The head and registered office of TransAlta is located at Suite 1400, 1100 &#8211; 1st Street SE, Calgary, Alberta T2G&nbsp;1B1. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_1">ABOUT THIS PROSPECTUS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_2">DOCUMENTS INCORPORATED BY REFERENCE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_3">WHERE TO FIND MORE INFORMATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_4">MARKETING MATERIALS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_5">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_6">TRANSALTA CORPORATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_7">RECENT DEVELOPMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_8">CONSOLIDATED CAPITALIZATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_9">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_10">EARNINGS COVERAGE RATIOS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_11">DESCRIPTION OF SHARE CAPITAL</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_12">DESCRIPTION OF WARRANTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_13">DESCRIPTION OF SUBSCRIPTION RECEIPTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_14">DESCRIPTION OF DEBT SECURITIES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_15">DESCRIPTION OF UNITS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_16">CERTAIN INCOME TAX CONSIDERATIONS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_17">SELLING SHAREHOLDER</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_18">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_19">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_20">ENFORCEABILITY OF CIVIL LIABILITIES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_21">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_22">INTEREST OF EXPERTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_23">AUDITORS, TRANSFER AGENT AND REGISTRAR</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#parti_tx938159_24">DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- i - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_1"></A>ABOUT THIS PROSPECTUS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In this Prospectus, in any Prospectus Supplement and in documents incorporated by reference in this Prospectus, unless otherwise specified or the context
otherwise requires, all dollar amounts are expressed in Canadian dollars. &#8220;<B>U.S. dollars</B>&#8221; or &#8220;<B>US$</B>&#8221; means lawful currency of the U.S. Except as set forth under &#8220;<I>Description of Debt Securities</I>&#8221;
or unless the context otherwise requires, all references in this Prospectus and any Prospectus Supplement to &#8220;<B>TransAlta</B>&#8221;, the &#8220;<B>Corporation</B>&#8221;, &#8220;<B>we</B>&#8221;, &#8220;<B>us</B>&#8221; and
&#8220;<B>our</B>&#8221; mean TransAlta Corporation and its consolidated subsidiaries, including any consolidated partnerships of which the Corporation or any of its subsidiaries are partners. References herein to this &#8220;Prospectus&#8221;
include documents incorporated by reference herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Prospectus is part of a registration statement on Form
<FONT STYLE="white-space:nowrap">F-10</FONT> relating to the Securities that has been filed with the SEC. Under the registration statement, we may, from time to time, sell any combination of the Securities described in this Prospectus, and the
Selling Shareholder may, from time to time, sell Common Shares, in each case, in one or more offerings. This Prospectus provides a general description of the Securities that we and, in the case of the Common Shares, that we and the Selling
Shareholder may offer. Each time we offer and sell Securities or the Selling Shareholder sells Common Shares under this Prospectus, we will provide you with a Prospectus Supplement that will contain specific information about the terms of that
offering. The Prospectus Supplement may also add, update or change information contained in this Prospectus. To the extent that any terms or provisions or other information pertaining to the Securities described in a Prospectus Supplement differ
from any of the terms or provisions or other information described in this Prospectus, the description set forth in this Prospectus shall be deemed to have been superseded by the description set forth in the Prospectus Supplement with respect to
those Securities. Before investing in any Securities, you should read both this Prospectus and any applicable Prospectus Supplement. This Prospectus does not contain all of the information contained in the registration statement. Prospective
purchasers should refer to the registration statement and the exhibits to the registration statement for further information with respect to TransAlta and the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless otherwise specified, all financial information included and incorporated by reference in this Prospectus has been prepared in accordance with
International Financial Reporting Standards as issued by the International Accounting Standards Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>You should rely only on the information
contained in or incorporated by reference in this Prospectus or any applicable Prospectus Supplement and on the other information included in the registration statement of which this Prospectus forms&nbsp;a part. We have not authorized anyone to
provide you with different or additional information. You should not assume that the information in this Prospectus, any applicable Prospectus Supplement or any documents incorporated by reference in this Prospectus is accurate as of any date other
than the date of those documents. Our business, operating results, financial condition and prospects may have changed since those&nbsp;dates. The Corporation is not making an offer to sell these Securities and the Selling Shareholder is not making
an offer to sell Common Shares in any jurisdiction where the offer or sale is not permitted by law. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 1 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_2"></A>DOCUMENTS INCORPORATED BY REFERENCE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following documents of TransAlta, filed with the securities commission or similar authority in each of the provinces of Canada and with the SEC, are
specifically incorporated by reference in, and form an integral part of, this Prospectus: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">our audited consolidated financial statements as at December&nbsp;31, 2024 and 2023 and for each of the years
in the three-year period ended December&nbsp;31, 2024, together with the notes thereto and the auditors&#8217; report thereon; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">our management&#8217;s discussion and analysis of financial condition and results of operations as of and for
the year ended December&nbsp;31, 2024 (the &#8220;<B>Annual MD&amp;A</B>&#8221;); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">our annual information form dated February&nbsp;19, 2025 for the year ended December&nbsp;31, 2024 (the
&#8220;<B>Annual Information Form</B>&#8221;); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">our management proxy circular dated March&nbsp;7, 2025, prepared in connection with the Corporation&#8217;s
annual and special meeting of shareholders held on April&nbsp;24, 2025; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">our unaudited interim condensed consolidated financial statements as at and for the three and nine months ended
September&nbsp;30, 2025 and 2024 and the notes thereto; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">our management&#8217;s discussion and analysis of financial condition and results of operations as at and for
the three and nine months ended September&nbsp;30, 2025 and 2024. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any documents of the type required to be incorporated by reference in
a short form prospectus pursuant to National Instrument <FONT STYLE="white-space:nowrap">44-101</FONT> &#8211; <I>Short Form Prospectus Distributions</I>, including any documents of the type referred to above, material change reports (excluding
confidential material change reports) and business acquisition reports that we file with the applicable regulatory authorities after the date of this Prospectus and prior to the termination of the distribution period of this Prospectus shall be
deemed to be incorporated by reference into this Prospectus. These documents will be available electronically on the System for Electronic Data Analysis and Retrieval + (&#8220;<B>SEDAR+</B>&#8221;), which can be accessed at <U>www.sedarplus.ca</U>.
In addition, any similar documents we file with or furnish to the SEC, as applicable, in our current reports on Form <FONT STYLE="white-space:nowrap">6-K</FONT> or annual reports on Form <FONT STYLE="white-space:nowrap">40-F</FONT> and any other
documents filed with or furnished to the SEC pursuant to Section&nbsp;13(a), 13(c) or 15(d) of the United States <I>Securities</I><I> </I><I>Exchange</I><I> </I><I>Act</I><I> </I><I>of</I><I> </I><I>1934</I>, as amended (the &#8220;<B>U.S.</B><B>
</B><B>Exchange</B><B> </B><B>Act</B>&#8221;), in each case after the date of this Prospectus and prior to the date on which this Prospectus ceases to be effective, shall be deemed to be incorporated by reference into the registration statement of
which this Prospectus forms a part, if and to the extent expressly provided in such reports. To the extent that any document incorporated by reference into this Prospectus is included in a report that is filed with or furnished to the SEC by us on
Form <FONT STYLE="white-space:nowrap">40-F,</FONT> <FONT STYLE="white-space:nowrap">20-F,</FONT> <FONT STYLE="white-space:nowrap">10-K,</FONT> <FONT STYLE="white-space:nowrap">10-Q,</FONT> <FONT STYLE="white-space:nowrap">8-K</FONT> or <FONT
STYLE="white-space:nowrap">6-K</FONT> (or any respective successor form), such document shall also be deemed to be incorporated by reference as an exhibit to the registration statement of which this Prospectus forms a part. Our periodic reports on
Form <FONT STYLE="white-space:nowrap">6-K</FONT> and our annual reports on Form <FONT STYLE="white-space:nowrap">40-F</FONT> are available on the SEC&#8217;s Electronic Data Gathering, Analysis, and Retrieval (&#8220;<B>EDGAR</B>&#8221;) system web
site at www.sec.gov.<B> </B> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Any statement contained in this Prospectus or in a document incorporated or deemed to be incorporated by
reference herein shall be deemed to be modified or superseded for the purposes of this Prospectus to the extent that a statement contained herein or in any other subsequently filed document that also is or is deemed to be incorporated by reference
herein modifies or supersedes such prior statement. The modifying or superseding statement need not state that it has modified or superseded a prior statement or include any other information set forth in the document that it modifies or supersedes.
The making of a modifying or superseding statement is not to be deemed an admission for any purposes that the modified or superseded statement, when made, constituted a misrepresentation, an untrue statement of a material fact or an omission to
state a material fact that is required to be stated or that is necessary to make a statement not misleading in light of the circumstances in which it was made. Any statement so modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this Prospectus. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon a new annual information form being filed by the Corporation with the applicable securities
regulatory authorities during the term of this Prospectus, the following documents shall be deemed no longer to be incorporated by reference into this Prospectus for purposes of future offers and sales of Securities hereunder: (i)&nbsp;the previous
annual information form; (ii)&nbsp;any material change reports filed by the Corporation prior to the end of the financial year in respect of which the new annual information form is filed; (iii)&nbsp;any business acquisition reports filed by the
Corporation for acquisitions completed prior to the beginning of the financial year in respect of which the new annual information form is filed (unless (a)&nbsp;such report is incorporated by reference into the new annual information form or
(b)&nbsp;less than nine months of the acquired business&#8217; or related businesses&#8217; operations are incorporated into the current annual financial statements of the Corporation); and (iv)&nbsp;any management information circular of the
Corporation filed prior to the beginning of the financial year in respect of which the new annual information form is filed (unless otherwise required by applicable securities law to be incorporated by reference into this Prospectus). Upon new
annual financial statements and related management&#8217;s discussion and analysis being filed by the Corporation with the applicable securities regulatory authorities during the term of this Prospectus, the previously filed annual financial
statements and related management&#8217;s discussion and analysis and all previously filed interim financial statements and related management&#8217;s discussion and analysis shall be deemed no longer to be incorporated by reference into this
Prospectus for purposes of future offers and sales of Securities hereunder. Upon new interim financial statements and related management&#8217;s discussion and analysis being filed by the Corporation with the applicable securities regulatory
authorities during the term of this Prospectus, all previously filed interim financial statements and related management&#8217;s discussion and analysis shall be deemed no longer to be incorporated by reference into this Prospectus for purposes of
future offers and sales of Securities hereunder. Upon a new management information circular prepared in connection with an annual general meeting of shareholders of the Corporation being filed by the Corporation with the applicable securities
regulatory authorities during the term of this Prospectus, the previous management information circular prepared in connection with an annual general meeting of shareholders of the Corporation shall be deemed no longer to be incorporated by
reference into this Prospectus for purposes of future offers and sales of Securities hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A Prospectus Supplement containing the specific terms of
an offering of Securities thereunder will be delivered to purchasers of such Securities together with this Prospectus (except where an exemption from such delivery requirements is available) and will be deemed to be incorporated by reference into
this Prospectus as of the date of such Prospectus Supplement solely for the purposes of the distribution of the Securities covered by such Prospectus Supplement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Copies of the documents incorporated herein by reference may be obtained on request without charge from the Corporate Secretary of TransAlta, Suite 1400, 1100
&#8211; 1st Street SE, Calgary, Alberta T2G 1B1 (telephone: (403) <FONT STYLE="white-space:nowrap">267-7110).</FONT> These documents are also available electronically on SEDAR+ under our profile, which can be accessed at <U>www.sedarplus.ca</U>.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 3 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_3"></A>WHERE TO FIND MORE INFORMATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have filed with the SEC, under the United States <I>Securities Act of 1933</I>, as amended (the &#8220;<B>U.S. Securities Act</B>&#8221;), a registration
statement on <FONT STYLE="white-space:nowrap">Form&nbsp;F-10</FONT> relating to the Securities. This Prospectus, which constitutes a part of the registration statement, does not contain all of the information contained in the registration statement,
certain items of which are contained in the exhibits to the registration statement as permitted by the rules and regulations of the SEC. Statements included or incorporated by reference in this Prospectus about the contents of any contract,
agreement or other documents referred to are not necessarily complete, and in each instance, you should refer to the exhibits for a complete description of the matter involved. Items of information omitted from this Prospectus but contained in the
registration statement will be available on the SEC&#8217;s website at www.sec.gov. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We file certain reports with and furnish other information to the SEC
and securities regulatory authorities in each of the provinces of Canada. Under the multijurisdictional disclosure system adopted by the U.S., documents and other information that we file with the SEC may be prepared in accordance with the
disclosure requirements of Canada, which are different from those of the U.S. You may read and download the documents that we have filed with the SEC on EDGAR at&nbsp;www.sec.gov. You may read and download any public document that the Corporation
has filed with the securities commission or other similar authority in each of the provinces of Canada on SEDAR+ at www.sedarplus.ca. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_4"></A>MARKETING MATERIALS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any &#8220;template version&#8221; of any &#8220;marketing materials&#8221; (as such terms are defined under applicable
Canadian securities laws) pertaining to a distribution of Securities will be filed on SEDAR+. In the event that such &#8220;marketing materials&#8221; are filed subsequent to the date of the filing of the applicable Prospectus Supplement pertaining
to the distribution of the Securities that such &#8220;marketing materials&#8221; relate to and prior to the termination of such distribution, such filed versions of the &#8220;marketing materials&#8221; will be deemed to be incorporated by
reference into this Prospectus for the purposes of the distribution of the Securities to which the applicable Prospectus Supplement pertains. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 4 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_5"></A>SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Prospectus and the documents incorporated by reference herein contain forward-looking statements and forward-looking information within the meaning of
applicable securities legislation (collectively, &#8220;<B>forward-looking statements</B>&#8221;). All forward-looking statements are based on the Corporation&#8217;s beliefs as well as assumptions based on information available at the time the
assumption was made and on management&#8217;s experience and perception of historical trends, current conditions, results and expected future developments, as well as other factors deemed reasonable and appropriate in the circumstances.
Forward-looking statements are not facts, but only predictions and generally can be identified by the use of statements that include phrases such as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;can&#8221;, &#8220;believe&#8221;,
&#8220;expect&#8221;, &#8220;anticipate&#8221;, &#8220;contemplate&#8221;, &#8220;estimate&#8221;, &#8220;propose&#8221;, &#8220;might&#8221;, &#8220;shall&#8221;, &#8220;project&#8221;, &#8220;should&#8221;, &#8220;could&#8221;,
&#8220;would&#8221;, &#8220;predict&#8221;, &#8220;forecast&#8221;, &#8220;pursue&#8221;, &#8220;capable&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;foresee&#8221;, &#8220;potential&#8221;, &#8220;enable&#8221;, &#8220;continue&#8221;
or other words or phrases of similar import. These statements are not guarantees of our future performance, events or results and are subject to known and unknown risks, uncertainties and other important factors, many of which are beyond the
Corporation&#8217;s control, that could cause our&nbsp;actual performance, events or results to differ materially from those expressed or implied in the forward-looking statements. In addition to the forward-looking statements contained in certain
documents incorporated by reference herein, this Prospectus contains, without limitation, forward-looking statements pertaining to certain terms of the Securities and any offering made under this Prospectus<B>; and the transactions with Far North
and PSE (each as defined herein), including expectations with respect to the timing thereof, approvals required in connection therewith and the attributes of the assets acquired thereunder</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The forward-looking statements contained in this Prospectus are based on many assumptions including, but not limited to, the following material assumptions:
no significant changes to applicable laws and regulations; no unexpected delays in obtaining required regulatory approvals; no material adverse impacts to investment and credit markets; no significant changes to power price and hedging assumptions;
no significant changes to gas commodity price assumptions and transport costs; no significant changes to interest rates or foreign exchange rates; no significant changes to the demand and growth of renewables and thermal generation; no significant
changes to the integrity and reliability of our assets; no significant changes to the Corporation&#8217;s debt and credit ratings; no unforeseen changes to economic and market conditions; no significant event occurring outside the ordinary course of
business; and realization of and expected impact from ongoing and future transactions. Additional assumptions on which we have based our 2025 guidance are disclosed with such guidance in the Annual MD&amp;A. Although the Corporation believes that
these assumptions are reasonable based on currently available information, there can be no assurance that such assumptions will prove to be correct. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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 cause the Corporation&#8217;s actual performance, events or results to differ materially from those expressed or implied by forward-looking statements contained or incorporated by
reference in this Prospectus include risks relating to: fluctuations in power prices; changes in supply and demand for electricity; our ability to contract our electricity generation for prices that will provide expected returns; our ability to
replace contracts as they expire; risks associated with development projects and acquisitions; failure to complete acquisitions or divestitures on the terms and conditions specified or at all; any difficulty raising needed capital in the future on
reasonable terms or at all; our ability to achieve our targets relating to environmental, social and governance performance; long-term commitments on gas transportation capacity that may not be fully utilized over time; changes to the legislative,
regulatory and political environments; environmental requirements and changes in, or liabilities under, these requirements; operational risks involving our facilities, including unplanned outages and equipment failure; disruptions in the
transmission and distribution of electricity; reductions in production including lower wind resource; impairments and/or writedowns of assets; adverse impacts on our information technology systems and our internal control systems, including
increased cybersecurity threats; commodity risk management and energy trading risks; reduced labour availability and ability to continue to staff our operations and facilities; disruptions to our supply chains; climate-change related risks;
reductions to our generating units&#8217; relative efficiency or capacity factors; general economic risks, including deterioration of equity markets, increasing interest rates or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 5 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
rising inflation; general domestic and international economic and political developments, including potential trade tariffs; industry risk and competition; counterparty credit risks; inadequacy
or unavailability of insurance coverage; increases in the Corporation&#8217;s income taxes and any risk of reassessments; legal, regulatory and contractual disputes and proceedings involving the Corporation; reliance on key personnel; and labour
relations matters. The foregoing risk factors, among others, are described in further detail under the heading &#8220;<I>Risk Factors</I>&#8221; in this Prospectus and in the documents incorporated by reference in this Prospectus, including the
Annual MD&amp;A. The Corporation cautions that the foregoing list of factors that may affect future plans, actions or results is not exhaustive. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Potential investors are urged to consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on
these forward-looking statements and to not use future-oriented financial information or financial outlooks for anything other than their intended purpose. The forward-looking statements included in this Prospectus and the documents incorporated by
reference herein are made only as of the date of the document in which they are contained and the Corporation does not undertake to publicly update these forward-looking statements to reflect new information, future events or otherwise, except as
required by applicable laws. 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. The Corporation cannot
assure you that projected results or events will be achieved. All forward-looking statements contained and incorporated by reference in this Prospectus are expressly qualified by this cautionary statement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 6 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_6"></A>TRANSALTA CORPORATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TransAlta is a corporation amalgamated under the <I>Canada Business Corporations Act</I>. The registered office and principal place of business of TransAlta
is located at Suite 1400, 1100 &#8211; 1st Street SE, Calgary, Alberta T2G 1B1. For further information on the intercorporate relationships among TransAlta and its principal subsidiaries, please refer to the Annual Information Form. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TransAlta and its predecessors have been engaged in the development, production and sale of electric energy since 1911. We are one of Canada&#8217;s largest
independent power generators and are among Canada&#8217;s largest <FONT STYLE="white-space:nowrap">non-regulated</FONT> electricity generation and energy marketing companies with 9,014 megawatts of gross installed capacity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We own, operate, and manage a highly contracted and geographically diversified portfolio of assets using a broad range of technologies and fuels, including
water, wind, solar, natural gas, energy storage, and coal. We are focused on generating and marketing electricity in Canada, the U.S., and Western Australia through our diversified portfolio of facilities. Our mission is to provide safe, <FONT
STYLE="white-space:nowrap">low-cost,</FONT> and reliable clean electricity. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_7"></A>RECENT DEVELOPMENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On November&nbsp;17, 2025 the Corporation announced that it has entered into a definitive share purchase agreement with an affiliate of Hut 8 Corp. and
Macquarie Equipment Finance Ltd., the equity owners of Far North Power Corporation (&#8220;<B>Far North</B>&#8221;), pursuant to which the Corporation will acquire Far North and its entire business operations in Ontario. Far North owns and operates
generation assets consisting of four natural <FONT STYLE="white-space:nowrap">gas-fired</FONT> generation facilities totaling 310 MW. The purchase price for the acquisition is $95&nbsp;million, subject to working capital and other adjustments.
Completion of the transaction is subject to customary closing conditions, including receipt of regulatory approvals. The transaction is expected to close by early first quarter of 2026. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>On December 9, 2025 the Corporation announced that it has signed a long-term tolling agreement with Puget Sound Energy, Inc. (&#8220;PSE&#8221;) to convert
its Centralia Unit 2 facility from coal to natural <FONT STYLE="white-space:nowrap">gas-fired</FONT> generation. The agreement with PSE provides a fixed-price capacity payment that provides PSE the exclusive right to the capacity, energy and
ancillary service attributes, as well as the dispatch rights to, the 700 MW facility. Approximately US$600&nbsp;million of capital expenditures will be required to extend the useful life of the facility and convert it from coal to natural <FONT
STYLE="white-space:nowrap">gas-fired</FONT> generation. The target commercial operation date is late-2028 and the facility will operate until the end of 2044 under the terms of the agreement with PSE. TransAlta anticipates declaring a final
investment decision after receipt of all required approvals in early 2027. Completion of the transaction is subject to customary regulatory approvals, including PSE receiving satisfactory approval from the Washington Utilities and Transportation
Commission. </B></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_8"></A>CONSOLIDATED CAPITALIZATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There have been no material changes in our share and loan capital, on a consolidated basis, since September&nbsp;30, 2025. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 7 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_9"></A>USE OF PROCEEDS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless otherwise specified in a Prospectus Supplement, the net proceeds from the sale of the Securities will be used for general corporate purposes, which may
include the repayment of indebtedness, the financing of our long-term investment plan and growth projects. The amount of net proceeds expected to be received from the sale of Securities, and each of the principal purposes for which we will use those
net proceeds, will be set forth in the applicable Prospectus Supplement. We may, from time to time, issue securities other than pursuant to this Prospectus. The Corporation will not receive any proceeds from the sale of Common Shares sold by the
Selling Shareholder under this Prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 8 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_10"></A>EARNINGS COVERAGE RATIOS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information regarding earnings coverage ratios will be provided in the applicable Prospectus Supplement relating to an offering of Securities, if and to the
extent required by applicable securities laws. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_11"></A>DESCRIPTION OF SHARE CAPITAL </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>General </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of the date of this Prospectus, the
Corporation&#8217;s authorized share capital consists of an unlimited number of Common Shares and an unlimited number of First Preferred Shares, issuable in series. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Common Shares </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following is a summary of the material
attributes and characteristics of the Common Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Common Share entitles the holder thereof to one vote for each Common Share held at all meetings
of shareholders of the Corporation, except meetings at which only holders of another specified class or series of shares are entitled to vote, to receive dividends if, as and when declared by the board of directors of the Corporation (the
&#8220;<B>Board</B>&#8221;), subject to prior satisfaction of preferential dividends applicable to any First Preferred Shares, and to participate rateably in any distribution of the assets of the Corporation upon a liquidation, dissolution or
winding up, subject to prior rights and privileges attaching to the First Preferred Shares. The Common Shares are not convertible and are not entitled to any <FONT STYLE="white-space:nowrap">pre-emptive</FONT> rights. The Common Shares are not
entitled to cumulative voting. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>First Preferred Shares </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following is a summary of the material attributes and characteristics of the First Preferred Shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TransAlta is authorized to issue an unlimited number of First Preferred Shares, issuable in series and, with respect to each series, the Board is authorized
to fix the number of shares comprising the series and determine the designation, rights, privileges, restrictions and conditions attaching to such shares, subject to certain limitations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The First Preferred Shares of all series rank senior to all other shares of TransAlta with respect to priority in payment of dividends and with respect to
distribution of assets in the event of liquidation, dissolution or winding up of the Corporation, or a reduction of stated capital. Holders of First Preferred Shares are entitled to receive cumulative quarterly dividends on the subscription price
thereof as and when declared by the Board at the rate established by the Board at the time of issue of shares of a series. No dividends may be declared or paid on any other shares of TransAlta unless all cumulative dividends accrued upon all
outstanding First Preferred Shares have been paid or declared and set apart. In the event of the liquidation, dissolution or winding up of the Corporation, or a reduction of stated capital, no sum shall be paid or assets distributed to holders of
other shares of the Corporation until the holders of First Preferred Shares shall have been paid the subscription price of their shares, plus a sum equal to the premium payable on a redemption, plus a sum equal to the arrears of dividends
accumulated on the First Preferred Shares to the date of such liquidation, dissolution, winding up, or reduction of stated capital, as applicable. After payment of such amount, the holders of First Preferred Shares shall not be entitled to share
further in the distribution of the assets of the Corporation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board may include in the share conditions attaching to a particular series of First
Preferred Shares certain voting rights effective upon the Corporation failing to make payment of six quarterly dividend payments, whether or not consecutive. These voting rights continue for so long as any dividends remain in arrears. These voting
rights are the right to one vote for each $25 of subscription price on all matters in respect of which </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 9 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
shareholders vote, and additionally, the right of all series of First Preferred Shares, voting as a combined class, to elect two directors of the Corporation if the Board then consists of less
than 16 directors, or three directors if the Board consists of 16 or more directors. Otherwise, except as required by law, the holders of First Preferred Shares shall not be entitled to vote or to receive notice of or to attend at any meeting of the
shareholders of TransAlta. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject to the share conditions attaching to any particular series providing to the contrary, TransAlta may redeem First
Preferred Shares of a series, in whole or from time to time in part, at the redemption price applicable to each series and has the right to acquire any of the First Preferred Shares of one or more series by purchase for cancellation in the open
market or by invitation for tenders at a price not to exceed the redemption price applicable to the series. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Prospectus Supplement will set forth the
following terms relating to the First Preferred Shares being offered: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the maximum number of First Preferred Shares; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the designation of the series; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the offering price; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the annual dividend rate and whether the dividend rate is fixed or variable, the date from which dividends will
accrue, and the dividend payment dates; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the price and the terms and conditions for redemption, if any, including redemption at TransAlta&#8217;s option
or at the option of the holder, including the time period for redemption, and payment of any accumulated dividends; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the terms and conditions, if any, for conversion or exchange for shares of any other class of TransAlta or any
other series of First Preferred Shares, or any other securities or assets, including the price or the rate of conversion or exchange and the method, if any, of adjustment; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">whether such First Preferred Shares will be listed on any securities exchange; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the voting rights, if any; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any other rights, privileges, restrictions, or conditions. </P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Related Party Articles Provisions </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following is a
summary of the material attributes and characteristics of the related party provisions of the articles of the Corporation. Prospective investors are encouraged to review the full text of the articles of the Corporation, a copy of which can be found
on SEDAR+ under our profile at <U>www.sedarplus.ca</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The articles of the Corporation contain provisions restricting the ability of the Corporation to
enter into a &#8220;Specified Transaction&#8221; with a &#8220;Major Shareholder&#8221;. A Specified Transaction requires the approval of a majority of the votes cast by holders of voting shares of the Corporation, as well as the approval of a
majority of the votes cast by holders of such voting shares, excluding any Major Shareholder. A Major Shareholder generally means the beneficial owner of more than 20% of the outstanding voting shares of the Corporation. The articles contain a broad
definition of beneficial ownership, and in particular, a person is considered to beneficially own shares owned by its associates and affiliates, as those terms are defined in the articles. Transactions which are considered to be Specified
Transactions include the following: a merger or amalgamation of the Corporation with a Major Shareholder; the furnishing of financial assistance by the Corporation to a Major Shareholder; certain sales of assets or provision of services by the
Corporation to a Major Shareholder or vice versa; certain issuances of securities by the Corporation which increase the proportionate voting interest of a Major Shareholder; a reorganization or recapitalization of the Corporation which increases the
proportionate voting interest of a Major Shareholder; and the creation of a class or series of <FONT STYLE="white-space:nowrap">non-voting</FONT> shares of the Corporation which has a residual right to participate in earnings of the Corporation and
assets of the Corporation upon dissolution or winding up. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 10 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Shareholder Rights Plan </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Corporation is party to an Amended and Restated Shareholder Rights Plan Agreement (the &#8220;<B>Rights Plan</B>&#8221;) dated as of April 28, 2022,
between the Corporation and Odyssey Trust Company, as rights agent, which amended and restated the shareholder rights plan agreement dated as of October&nbsp;13, 1992. The Rights Plan was last confirmed at our annual and special meeting of
shareholders on April&nbsp;24, 2025 and will expire at the close of business on the date of our 2028 annual meeting of shareholders, unless ratified and extended by a further vote of the shareholders. For further particulars, reference should be
made to the Rights Plan. A copy of the Rights Plan may be obtained by contacting the Corporate Secretary of TransAlta, Suite 1400, 1100 &#8211; 1st Street SE, Calgary, Alberta T2G 1B1 (telephone: (403)
<FONT STYLE="white-space:nowrap">267-7110).</FONT> A copy of the Rights Plan is also available electronically on SEDAR+ under our profile, which can be accessed at <U>www.sedarplus.ca</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 11 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_12"></A>DESCRIPTION OF WARRANTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Corporation may issue Warrants independently or together with other Securities, and Warrants sold with other Securities may be attached to or separate
from the other Securities. Warrants will be issued under and governed by the terms of one or more warrant agreements or indentures that the Corporation will enter into with one or more banks or trust companies acting as warrant agent or trustee that
will be named in the applicable Prospectus Supplement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A description of the material terms of any Warrants that we offer, and the extent to which the
general terms and provisions described in this section apply to those Warrants, will be set out in the applicable Prospectus Supplement. The Prospectus Supplement will describe some or all of the following terms relating to the Warrants being
offered: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the designation of the Warrants; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the aggregate number of Warrants offered and the offering price, if any; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the designation, number and terms of the Common Shares, First Preferred Shares or other Securities purchasable
upon exercise of the Warrants, and procedures that will result in the adjustment of those numbers; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the exercise price of the Warrants; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the dates or periods on, after or during which the Warrants are exercisable; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the designation and terms of any Securities with which the Warrants are issued and the number of Warrants that
will be issued with each such Security; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">if the Warrants are issued as a unit with another Security, the date on and after which the Warrants and the
other Security will be separately transferable; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the currency or currency unit in which the offering price, if any, and exercise price are denominated;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any minimum or maximum amount of Warrants that may be exercised at any one time; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">whether such Warrants will be listed on any securities exchange; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">provisions as to modification, amendment or variation of the warrant agreement or indenture or any rights or
terms attaching to the Warrants; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any terms, procedures and limitations relating to the transferability, exchange or exercise of the Warrants;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">whether the Warrants will be subject to redemption or call and, if so, the terms of such redemption or call
provisions; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any other terms of the Warrants. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 12 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_13"></A>DESCRIPTION OF SUBSCRIPTION RECEIPTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Corporation may issue Subscription Receipts, independently or together with other Securities, and Subscription Receipts sold with other Securities may be
attached to or separate from the other Securities. Subscription Receipts will be issued under one or more subscription receipt agreements that we will enter into with one or more escrow agents. If underwriters or agents are involved in the sale of
Subscription Receipts, one or more of such underwriters or agents may also be parties to the subscription receipt agreement governing those Subscription Receipts. The relevant subscription receipt agreement will establish the terms of the
Subscription Receipts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A Subscription Receipt is a security of the Corporation that will entitle the holder to receive, upon satisfaction of one or more
release conditions, and for no additional consideration, a specified number of Securities. A description of the material terms of any Subscription Receipts that we offer, and the extent to which the general terms and provisions described in this
section apply to those Subscription Receipts, will be set out in the applicable Prospectus Supplement. The Prospectus Supplement will describe some or all of the following terms relating to the Subscription Receipts being offered: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the designation of the Subscription Receipts; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the aggregate number of Subscription Receipts offered and the offering price; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the currency or currency unit in which the Subscription Receipts will be offered; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the terms, conditions and procedures for which the holders of Subscription Receipts will become entitled to
receive the underlying Securities; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the number of Securities that may be obtained upon the conversion of each Subscription Receipt, any anti-dilution
provisions that will result in the adjustment of that number and the period or periods during which any conversion must occur; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the designation and terms of any other Securities with which the Subscription Receipts will be offered and the
number of Subscription Receipts that will be offered with each Security; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the treatment of the gross proceeds from the sale of such Subscription Receipts, including (if applicable) the
terms applicable to the escrow agent holding in escrow all or a portion of the gross proceeds from the sale of such Subscription Receipts, plus any interest earned thereon, pending satisfaction of the release conditions; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">whether such Subscription Receipts will be listed on any securities exchange; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">procedures for the refund by the escrow agent to holders of Subscription Receipts of all or a portion of the
subscription price for their Subscription Receipts, plus any pro rata entitlement to interest earned or income generated on such amount, if the release conditions are not satisfied; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any entitlement of ours to purchase the Subscription Receipts in the open market, by private agreement or
otherwise; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">whether we will issue the Subscription Receipts as global securities and, if so, the identity of the depository;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">provisions as to modification, amendment or variation of the subscription receipt agreement or any rights or
terms attaching to the Subscription Receipts; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any terms, procedures and limitations relating to the transferability, exchange or conversion of the Subscription
Receipts; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any other material terms and conditions of the Subscription Receipts. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 13 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_14"></A>DESCRIPTION OF DEBT SECURITIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In this section, the terms &#8220;Corporation&#8221; and &#8220;TransAlta&#8221; refer only to TransAlta Corporation without the subsidiaries through which it
operates. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Corporation may issue debt securities, independently or together with other Securities, and debt securities sold with other Securities may
be attached to or separate from the other Securities. Debt securities will be issued under one or more indentures (each, a &#8220;<B>Debt Indenture</B>&#8221;), in each case between the Corporation and an appropriately qualified financial
institution authorized to carry on business as a trustee (each, a &#8220;<B>Trustee</B>&#8221;). The relevant Debt Indenture will establish the terms of the debt securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Debt securities may be issued from time to time in one or more series. The Corporation may specify a maximum aggregate principal amount for the debt
securities of any series and, unless otherwise provided in the applicable Prospectus Supplement, a series of debt securities may be reopened for issuance of additional debt securities of that series. The Corporation may also, from time to time,
issue debt securities and incur additional indebtedness other than pursuant to debt securities issued under this Prospectus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A description of the
material terms of any debt securities that we offer, and the extent to which the general terms and provisions described in this section apply to those debt securities, will be set out in the applicable Prospectus Supplement. The Prospectus
Supplement will describe some or all of the following terms relating to the debt securities being offered: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the specific designation and any limit on the aggregate principal amount of the debt securities;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the currency or currency units for which the debt securities may be purchased and in which the principal and any
premium or interest is payable (in either case, if other than Canadian dollars); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the offering price (at par, at a discount or at a premium) of the debt securities; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the date(s) on which the debt securities will be issued and delivered; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the date(s) on which the debt securities will mature, including any provision for the extension of a maturity
date, or the method of determining such date(s); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the rate(s) per annum (either fixed or floating) at which the debt securities will bear interest (if any) and, if
floating, the method of determining such rate(s); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the date(s) from which any interest obligation will accrue and on which interest will be payable, and the record
date(s) for the payment of interest or the method of determining such date(s); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">if applicable, the provisions for subordination of the debt securities to other indebtedness of the Corporation;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the identity of the Trustee under the applicable Debt Indenture pursuant to which the debt securities are to be
issued; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any redemption terms, or terms under which the debt securities may be defeased prior to maturity;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any repayment or sinking fund provisions; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any events of default applicable to the debt securities; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">whether the debt securities are to be issued in registered form or in the form of temporary or permanent global
securities, and the basis of exchange, transfer and ownership thereof; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">whether the debt securities may be converted or exchanged for other Securities of the Corporation or any other
entity; </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 14 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">if applicable, the ability of the Corporation to satisfy all or a portion of any redemption of the debt
securities, payment of any premium or interest thereon, or repayment of the principal owing upon the maturity through the issuance of Securities of the Corporation or of any other entity, and any restrictions on the persons to whom such Securities
may be issued; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">provisions applicable to amendment of the Debt Indenture; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any other material terms, conditions or other provisions (including covenants) applicable to the debt securities.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 15 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_15"></A>DESCRIPTION OF UNITS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We may issue units comprised of one or more of the other Securities described in this Prospectus in any combination. Each unit will be issued so that the
holder of the unit is also the holder of each Security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each Security included therein. The unit agreement under which a unit is issued may provide
that the Securities included in the unit may not be held or transferred separately, at any time or at any time before a specified date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A description of
the material terms of any units that we offer, and the extent to which the general terms and provisions described in this section apply to those units, will be set out in the applicable Prospectus Supplement. The Prospectus Supplement will describe
some or all of the following terms relating to the units being offered: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the designation and terms of the units and of the Securities comprising the units, including whether and under
what circumstances those Securities may be held or transferred separately; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the Securities
comprising the units; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">whether the units will be issued as global securities and, if so, the identity of the depositary.
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 16 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_16"></A>CERTAIN INCOME TAX CONSIDERATIONS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The applicable Prospectus Supplement may describe certain Canadian federal income tax consequences to an investor who is a resident of Canada with respect to
the acquisition, ownership and disposition of any Securities offered thereunder. In addition, the applicable Prospectus Supplement may describe certain Canadian federal income tax consequences to an investor who is a
<FONT STYLE="white-space:nowrap">non-resident</FONT> of Canada and who acquires any Securities offered thereunder, including whether the payments of principal, interest or distributions, if any, on the Securities will be subject to Canadian <FONT
STYLE="white-space:nowrap">non-resident</FONT> withholding tax. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The applicable Prospectus Supplement may also describe certain U.S. federal income tax
considerations of the acquisition, ownership and disposition of any Securities offered thereunder by an initial investor who is a U.S. person (within the meaning of the U.S. <I>Internal Revenue Code of 1986</I>). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 17 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_17"></A>SELLING SHAREHOLDER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The terms under which Common Shares will be offered by the Selling Shareholder will be described in the applicable Prospectus Supplement. The Prospectus
Supplement relating to any offering of Common Shares by the Selling Shareholder will include, without limitation, where applicable: (i)&nbsp;the name of the Selling Shareholder; (ii)&nbsp;the number of Common Shares owned, controlled or directed by
the Selling Shareholder; (iii)&nbsp;the number of Common Shares being distributed for the account of the Selling Shareholder; (iv)&nbsp;the number of Common Shares to be owned, controlled or directed by the Selling Shareholder after the distribution
and the percentage that number represents out of the total number of outstanding Common Shares; (v)&nbsp;whether the Common Shares are owned by the Selling Shareholder, both of record and beneficially, of record only or beneficially only;
(vi)&nbsp;if the Selling Shareholder purchased any of the Common Shares held by it in the 24 months preceding the date of the Prospectus Supplement, the date or dates on which the Selling Shareholder acquired the Common Shares; and (vii)&nbsp;if the
Selling Shareholder acquired the Common Shares held by it in the 12 months preceding the date of the Prospectus Supplement, the cost thereof to the Selling Shareholder in the aggregate and on an average per security basis. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Registration Rights Agreement </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following is a summary
of certain material provisions of the registration rights agreement entered into between Eagle Hydro II (an affiliate of Brookfield) and the Corporation on May&nbsp;1, 2019 (the &#8220;<B>Registration Rights Agreement</B>&#8221;) and is to be read
together with, and is qualified in its entirety by reference to, the full text of the Registration Rights Agreement, a copy of which can be found on SEDAR+ under our profile at <U>www.sedarplus.ca</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Registration Rights Agreement provides that Eagle Hydro II and any affiliate of Brookfield that becomes party to the Registration Rights Agreement (each a
&#8220;<B>Holder</B>&#8221;) may, at any time and from time to time, make a written request (a &#8220;<B>Demand Registration</B>&#8221;) to the Corporation to file a Prospectus Supplement with the securities commissions or similar authorities in
each of the provinces of Canada in respect of the distribution of all or part of the Common Shares then held by the Holder (&#8220;<B>Registrable Securities</B>&#8221;), subject to certain restrictions set forth in the Registration Rights Agreement.
Upon receipt by the Corporation of a Demand Registration, the Corporation will promptly file a Prospectus Supplement in order to permit the offer and sale or other disposition or distribution in Canada of all or any portion of the Registrable
Securities held, directly or indirectly, by the Holder (a &#8220;<B>Demand Offering</B>&#8221;). The Corporation will not be obligated to effect: (i)&nbsp;more than three Demand Offerings in total during the term of the Registration Rights
Agreement; or (ii)&nbsp;a Demand Offering if the Registrable Securities have an aggregate market price of less than $50&nbsp;million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If at any time the
Corporation proposes to file a Prospectus Supplement with respect to the distribution of any Common Shares to the public, then the Corporation will give notice of the proposed distribution to each Holder not less than five business days in advance
of the anticipated filing date of the Prospectus Supplement (or, in the case of a &#8220;bought deal&#8221; or another public offering which is not expected to include a road show, such notice as is practicable under the circumstances), which notice
will offer each Holder the opportunity to qualify for distribution such number of Registrable Securities as such Holder may request. The Corporation will use commercially reasonable efforts to include in such Prospectus Supplement such Registrable
Securities (a &#8220;<B>Piggy Back Offering</B>&#8221;), unless the Corporation&#8217;s managing underwriter or underwriters determine, in good faith, that including such Registrable Securities in the distribution would, in their opinion, adversely
affect the Corporation&#8217;s distribution or sales price of the Securities being offered by the Corporation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Demand Offerings and Piggy Back
Offerings are subject to various conditions and limitations. The Corporation is entitled to defer any Demand Offering in certain circumstances, including during a regular annual and quarterly blackout period in respect of the release of its
financial results. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 18 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Registration Rights Agreement includes provisions providing for each of the Corporation and the Holders
to indemnify each other for losses or claims caused by the applicable party&#8217;s inclusion of a misrepresentation in disclosure included in any prospectus and for breaches of applicable securities laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the case of a Prospectus Supplement filed in connection with a Demand Offering or Piggy Back Offering, the Corporation will pay all applicable fees and
expenses incidental to the Corporation&#8217;s performance of, or compliance with, the terms of such offering, provided that in the event any Registrable Securities are freely tradeable at the time that the Corporation receives the offering request,
the Corporation and the Holders will be jointly and severally responsible for the proportionate share of registration fees and expenses of any Holders based on the total offering price of the freely tradeable securities sold by the Holders to the
total offering price of all the Securities sold by the Corporation in such offering. The Corporation and the Holders will be jointly and severally responsible for paying all selling expenses (including fees or commissions payable to an underwriter,
investment banker, manager or agent and any transfer taxes attributable to the sale of Registrable Securities) with respect to Registrable Securities sold by the Holders and the Corporation will pay all selling expenses with respect to any
Securities sold for the account of the Corporation. The Corporation and the Holders will be solely responsible on a joint and several basis for all <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-</FONT></FONT> pocket
expenses incurred by any Holders in connection with a Demand Offering or Piggy Back Offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If a Holder ceases to be an affiliate of Brookfield, the
Holder will cease to have any rights or obligations under the Registration Rights Agreement. The Registration Rights Agreement will terminate when Brookfield, together with its affiliates, beneficially owns in the aggregate less than 3% of the
issued and outstanding Common Shares. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 19 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_18"></A>PLAN OF DISTRIBUTION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We may offer and sell the Securities and the Selling Shareholder may, in accordance with the terms of the Registration Rights Agreement, offer and sell Common
Shares: (i)&nbsp;to or through underwriters or dealers purchasing as principals; (ii)&nbsp;directly to purchasers; (iii)&nbsp;through agents; or (iv)&nbsp;through a combination of any of these methods of sale. These Securities may be offered and
sold in Canada and/or the U.S. and elsewhere where permitted by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The distribution of the Securities of any series may be effected from time to time
in one or more transactions at a fixed price or prices or at <FONT STYLE="white-space:nowrap">non-fixed</FONT> prices. If offered on a <FONT STYLE="white-space:nowrap">non-fixed</FONT> price basis, Securities may be offered at market prices
prevailing at the time of sale or at prices to be negotiated with purchasers at the time of sale, including sales in transactions that are <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#8220;at-the-market</FONT></FONT>
distributions&#8221;, including sales made directly on the TSX, the NYSE or other existing trading markets for the Securities, and as set out in the applicable Prospectus Supplement. The prices at which Securities may be offered may vary between
purchasers and during the period of distribution. If Securities are offered on a <FONT STYLE="white-space:nowrap">non-fixed</FONT> price basis, the underwriters&#8217;, dealers&#8217; or agents&#8217; compensation will be increased or decreased by
the amount by which the aggregate price paid for Securities by purchasers exceeds or is less than the gross proceeds paid by the underwriters, dealers or agents to us and/or the Selling Shareholder, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the sale of Securities, underwriters, dealers or agents may receive compensation from the Corporation, the Selling Shareholder or from
other parties, including in the form of underwriters&#8217;, dealers or agents&#8217; fees, commissions or concessions. Underwriters, dealers and agents that participate in the distribution of Securities may be deemed to be underwriters for the
purposes of applicable Canadian securities legislation and any such compensation received by them from the Corporation and/or the Selling Shareholder and any profit on the resale of the Securities by them may be deemed to be underwriting commissions
under the U.S. Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Prospectus Supplement relating to each distribution of Securities will also set forth the terms of the offering of the
Securities, including to the extent applicable, the initial offering price, the net proceeds to the Corporation and/or the Selling Shareholder from the offering, the underwriters&#8217;, dealers&#8217; or agents&#8217; compensation, any other
discount or selling concession to be allowed or <FONT STYLE="white-space:nowrap">re-allowed</FONT> to underwriters or dealers and any other material terms of the plan of distribution. Any underwriters, dealers or agents with respect to a particular
offering of Securities will be named in the Prospectus Supplement relating to such offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with any offering of Securities, other than an
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#8220;at-the-market</FONT></FONT> distribution&#8221;, the underwriters, dealers or agents may over-allot or effect transactions which stabilize or maintain the market price of the
Securities at a level above that which might otherwise prevail in the open market. Such transactions may be commenced, interrupted or discontinued at any time. No underwriter of, or dealer or agent involved in, an <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">&#8220;at-the-</FONT></FONT> market distribution&#8221; under this Prospectus, and no person or company acting jointly or in concert with any such underwriter, dealer or agent, may, in connection with the distribution,
enter into any transaction that is intended to stabilize or maintain the market price of the Securities or securities of the same class as the Securities distributed under the Prospectus Supplement applicable to the <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">&#8220;at-the-market</FONT></FONT> distribution&#8221;, including selling an aggregate number or principal amount of Securities that would result in the underwriter, dealer or agent, as applicable, creating an
over-allocation position in the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under agreements which may be entered into by the Corporation and/or the Selling Shareholder, underwriters,
dealers and agents who participate in the distribution of Securities may be entitled to indemnification by the Corporation and/or the Selling Shareholder against certain liabilities, including liabilities under the securities legislation of each of
the provinces of Canada and under the U.S. Securities Act, or to contribution with respect to payments which such underwriters, dealers or agents may be required to make in respect thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If so indicated in the applicable Prospectus Supplement, we may authorize dealers or other persons acting as our agents to solicit offers by certain
institutions to purchase the Securities directly from us pursuant to contracts </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 20 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
providing for payment and delivery on a future date. These contracts will be subject only to the conditions set forth in the applicable Prospectus Supplement, which will also set forth the
commission payable for solicitation of these contracts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each distribution of First Preferred Shares (other than Series A Shares, Series B Shares, Series
C Shares, Series D Shares, Series E Shares or Series G Shares), Warrants, Subscription Receipts, debt securities or units will, unless otherwise provided in the applicable prospectus supplement, be a new issue of securities with no established
trading market. Unless otherwise specified in the applicable Prospectus Supplement, such First Preferred Shares, Warrants, Subscription Receipts, debt securities or units will not be listed on any securities or stock exchange or on any automated
dealer quotation system. This may affect the pricing of such First Preferred Shares, Warrants, Subscription Receipts, debt securities or units in the secondary market, the transparency and availability of trading prices, the liquidity of such
Securities and the extent of issuer regulation. Certain broker-dealers may make a market in such Securities, but will not be obligated to do so and may discontinue any market making at any time without notice. No assurance can be given that any
broker dealer will make a market in any such Securities or as to the liquidity of the trading market, if any, for any such Securities. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 21 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_19"></A>RISK FACTORS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Before deciding to invest in any Securities, prospective purchasers of the Securities should consider carefully the risk factors and other information
contained and incorporated by reference in this Prospectus and the applicable Prospectus Supplement. An investment in the Securities is subject to various risks including those risks inherent to the industries in which TransAlta operates. If any of
the events contemplated by these risk factors occurs, TransAlta&#8217;s business, prospects, financial condition, results of operations or cash flows could be materially harmed, which could adversely affect the value of the Securities. In addition
to the risk factors set forth below, information regarding the risks affecting the Corporation and its business is provided in the documents incorporated by reference in this Prospectus, including in the Annual MD&amp;A under the heading
&#8220;<I>Governance and Risk Management</I>&#8221;. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Changes in interest rates may cause the value of the debt securities or the First Preferred
Shares to decline </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Prevailing interest rates will affect the market price or value of the debt securities and the First Preferred Shares. The market
price or value of the debt securities or the First Preferred Shares may decline as prevailing interest rates for comparable debt instruments rise, and increase as prevailing interest rates for comparable debt instruments decline. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Credit ratings may not reflect all risks of an investment in the debt securities or the First Preferred Shares and may change </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Credit ratings may not reflect all risks associated with an investment in the debt securities or the First Preferred Shares. Any credit ratings assigned to the
debt securities or the First Preferred Shares are an assessment of the Corporation&#8217;s ability to pay its obligations thereunder. Consequently, real or anticipated changes in the credit ratings in respect of the debt securities, First Preferred
Shares or other debt of TransAlta could have an adverse impact on our liquidity, our cost of funds and any of our agreements that refer to our credit ratings and will generally affect the market value of the debt securities and the First Preferred
Shares. The credit ratings, however, may not reflect the potential impact of risks related to structure, market or other factors discussed herein on the value of the debt securities or the First Preferred Shares. There is no assurance that any
credit rating assigned to the debt securities or the First Preferred Shares will remain in effect for any given period of time or that any rating will not be lowered or withdrawn entirely by the relevant rating agency. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The Common Shares or other listed Securities may be subject to price and volume fluctuations, and the market price for the Common Shares or other listed
Securities, as applicable, following an offering may drop below the offering price </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In recent years, securities markets have experienced considerable
price and volume volatility, and the volatility in the trading price of the Common Shares and the First Preferred Shares was at times unrelated to the financial or operating performance of TransAlta and not necessarily determined solely by reference
to the underlying value of TransAlta&#8217;s assets. The market price of publicly traded securities is affected by many variables, including the strength of the economy generally, interest rates, credit ratings, commodity prices, the availability
and attractiveness of alternative investments and the breadth of the public market for the securities. The effect of these and other factors on the market prices of the Common Shares and First Preferred Shares on the stock exchanges on which such
Securities trade suggests that the future trading prices of the Common Shares and other listed Securities may be volatile. The market price for such Securities may be affected by numerous factors beyond the control of TransAlta. These fluctuations
may affect the price of the Common Shares or other listed Securities following an offering, and the market price of the Common Shares or other listed Securities, as applicable, may drop below the offering price. As a result of this volatility,
holders may not be able to sell their Common Shares or other listed Securities at or above the offering price. TransAlta cannot predict at what price the Common Shares or other listed Securities issued by TransAlta will trade in the future. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 22 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The decision to pay dividends and the amount of such dividends is subject to the discretion of the Board
based on numerous factors and may vary from time to time </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The declaration and payment of cash dividends to holders of Common Shares or First Preferred
Shares are not guaranteed. Although TransAlta currently intends to pay quarterly cash dividends to its shareholders, these cash dividends may be reduced or suspended. The amount of cash available to TransAlta to pay dividends, if any, can vary
significantly from period to period for a number of reasons, including, among other things: TransAlta&#8217;s financial and operational performance; fluctuations in operating costs; the amount of cash required or retained for debt service or
repayment; amounts required to fund capital expenditures and working capital requirements; access to equity markets; foreign exchange rates and interest rates; and the risk factors set forth herein and in the documents incorporated by reference
herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The decision whether or not to pay dividends and the amount of any such dividends are subject to the discretion of the Board, which regularly
evaluates TransAlta&#8217;s proposed dividend payments and the solvency test requirements of the <I>Canada Business Corporations Act</I>. In addition, the level of dividends per Common Share will be affected by the number of outstanding Common
Shares and other securities that may be entitled to receive cash dividends or other payments, such as First Preferred Shares. Dividends may be increased, reduced or suspended depending on TransAlta&#8217;s operational and financial performance, as
well as the other factors discussed above. The market value of certain Securities may deteriorate if TransAlta is unable to meet dividend expectations in the future, and such deterioration may be material. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>TransAlta may issue additional Securities in the future which may dilute the holdings of existing securityholders, including holders of Securities
purchased hereunder, or which may have priority over existing securityholders </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TransAlta may issue additional Securities, including upon the exercise
of the Corporation&#8217;s outstanding options and other convertible securities, which may dilute existing securityholders, including purchasers of Securities offered hereunder. TransAlta may also issue debt securities that have priority over
holders of other Securities with respect to payment in the event of an insolvency or <FONT STYLE="white-space:nowrap">winding-up</FONT> of TransAlta. Securityholders will have no <FONT STYLE="white-space:nowrap">pre-emptive</FONT> rights in
connection with any such further issuances. The Board has the discretion to determine the designation, rights, privileges, restrictions and conditions attached to any series of First Preferred Shares, the price and terms of any debt securities and
the price and terms for any issuances of Common Shares, First Preferred Shares, Warrants, Subscription Receipts, debt securities and units. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition,
any resale by the Selling Shareholder of its Common Shares, or the perception that such resales may occur, whether pursuant to this Prospectus or otherwise, could adversely affect the prevailing market price of the Common Shares. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>There can be no assurance as to the liquidity of the trading market for the First Preferred Shares, Warrants, Subscription Receipts, debt securities or
units or that a trading market for such Securities will develop </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There is currently no market through which First Preferred Shares (other than Series A
Shares, Series B Shares, Series C Shares, Series D Shares, Series E Shares or Series G Shares), Warrants, Subscription Receipts, debt securities or units may be sold and the purchasers of such Securities may not be able to resell such Securities
purchased under this Prospectus and any Prospectus Supplement. There can be no assurance that a secondary market will develop for any of such First Preferred Shares, Warrants, Subscription Receipts, debt securities or units that may be issued under
this Prospectus and the relevant Prospectus Supplement(s) or that any secondary market which does develop will continue. This may affect the pricing of such Securities in the secondary market, if any, the transparency and availability of trading
prices, the liquidity of the Securities and the extent of regulation of such Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The public offering prices of the Securities may be determined
by negotiation between TransAlta and the underwriters, dealers, agents or purchasers, as applicable, based on several factors and may bear no relationship </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 23 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
to the prices at which such Securities will trade in the public market subsequent to such offering. See &#8220;<I>Plan of Distribution</I>&#8221;. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The debt securities will be effectively subordinated to certain indebtedness and other liabilities of our subsidiaries which do not guarantee the debt
securities </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We carry on a substantial portion of our business through subsidiaries and a substantial portion of our assets is held in our subsidiaries.
Our results of operations and ability to service indebtedness, including the debt securities, are substantially dependent upon the results of operations of these subsidiaries and the payment of funds by these subsidiaries to us in the form of loans,
dividends or otherwise. However, unless otherwise provided in the applicable Prospectus Supplement with respect to a specific issue of debt securities, the debt securities will not be guaranteed by any of our subsidiaries. The creditors of our
subsidiaries will have the right to be paid before any cash is distributed by those subsidiaries to TransAlta, which may impair TransAlta&#8217;s ability to make payment on the debt securities. In the event of the liquidation of any subsidiary, the
assets of the subsidiary would be used first to repay the subsidiary&#8217;s indebtedness, including trade payables or obligations under any guarantees, prior to being used by us to pay our indebtedness, including any debt securities. Consequently,
the debt securities will be effectively subordinated to the liabilities, including trade payables, of our subsidiaries. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The debt securities will be
unsecured and effectively subordinated to any of our secured indebtedness </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless otherwise provided in the applicable Prospectus Supplement with
respect to a specific issue of debt securities, the debt securities will be direct unsecured debt of TransAlta, and will be effectively subordinated to all existing and future secured debt of TransAlta, to the extent of the assets securing such
debt. If TransAlta is involved in any bankruptcy, dissolution, liquidation or reorganization, the holders of secured debt would be paid before the holders of debt securities receive any amounts due under the debt securities to the extent of the
value of the assets securing the secured debt. In that event, a holder of debt securities may not be able to recover any principal or interest due to it under the debt securities. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 24 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_20"></A>ENFORCEABILITY OF CIVIL LIABILITIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TransAlta is a corporation organized under and governed by the <I>Canada Business Corporations Act</I>. Some of the directors and officers of the Corporation,
and some of the experts named in this Prospectus, are residents of Canada or otherwise reside outside the U.S., and all or a substantial portion of their assets, and a substantial portion of the Corporation&#8217;s assets, are located outside the
U.S. The Corporation has appointed an agent for service of process in the U.S., but it may be difficult for holders of Securities who reside in the U.S. to effect service within the U.S. upon those directors, officers and experts who are not
residents of the U.S. It may also be difficult for holders of Securities who reside in the U.S. to realize in the U.S. upon judgments of courts of the U.S. predicated upon the Corporation&#8217;s civil liability and the civil liability of the
directors and officers of the Corporation and experts under U.S. federal securities&nbsp;laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Corporation has been advised by its Canadian counsel,
Blake, Cassels&nbsp;&amp; Graydon LLP, that a judgment of a U.S. court predicated solely upon civil liability under U.S. federal securities laws would probably be enforceable in Canada if the U.S. court in which the judgment was obtained has a basis
for jurisdiction in the matter that would be recognized by a Canadian court for the same purposes. The Corporation has also been advised by Blake, Cassels&nbsp;&amp; Graydon LLP, however, that there is real doubt whether an action could be brought
in Canada in the first instance on the basis of liability predicated solely upon U.S. federal securities&nbsp;laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Corporation filed with the SEC,
concurrently with its registration statement on <FONT STYLE="white-space:nowrap">Form&nbsp;F-10,</FONT> an appointment of agent for service of process on <FONT STYLE="white-space:nowrap">Form&nbsp;F-X.</FONT> Under the
<FONT STYLE="white-space:nowrap">Form&nbsp;F-X,</FONT> the Corporation appointed TransAlta Centralia Generation LLC as its agent for service of process in the U.S. in connection with any investigation or administrative proceeding conducted by the
SEC, and any civil suit or action brought against or involving the Corporation in a U.S. court arising out of or related to or concerning an offering of Securities under this Prospectus. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_21"></A>LEGAL MATTERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless otherwise specified in the applicable Prospectus Supplement, certain legal matters in connection with the offering of Securities will be passed upon on
behalf of TransAlta by Blake, Cassels and Graydon LLP, as to matters of Canadian law, and Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP, as to matters of U.S.&nbsp;law. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_22"></A>INTEREST OF EXPERTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As at the date of this Prospectus, the partners and associates of Blake, Cassels&nbsp;&amp; Graydon LLP, as a group, beneficially own, directly or indirectly,
less than 1% of any class of securities of TransAlta. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ernst&nbsp;&amp; Young LLP is the Corporation&#8217;s independent registered public accounting firm
and is independent in the context of the Rules of Professional Conduct of the Chartered Professional Accountants of Alberta and the rules and regulations adopted by the United States Securities and Exchange Commission and the Public Company
Accounting Oversight Board (United States). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_23"></A>AUDITORS, TRANSFER AGENT AND REGISTRAR </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TransAlta&#8217;s auditors are Ernst&nbsp;&amp; Young LLP, Chartered Professional Accountants, Calgary, Alberta. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The transfer agent and registrar for the Common Shares and Series A, B, C, D, E and G First Preferred Shares is Odyssey Trust Company. Common Shares are
transferable in Vancouver, Calgary and Toronto. Series A, B, C, D, E and G First Preferred Shares are transferable in Calgary and Toronto. The transfer agent and registrar for the Common Shares in the U.S. is Odyssey Transfer and Trust Company at
its principal office in Woodbury, Minnesota. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 25 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="parti_tx938159_24"></A>DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following documents have been filed with the SEC as part of the registration statement of which this Prospectus forms&nbsp;a part: the documents
referred to under &#8220;<I>Documents Incorporated by Reference</I>&#8221;; consent of Ernst&nbsp;&amp; Young LLP; powers of attorney from directors and officers of TransAlta, as applicable; the indenture between TransAlta and The Bank of New York
Mellon, as trustee, dated as of June&nbsp;25, 2002; and the Statement of Eligibility of The Bank of New York Mellon on <FONT STYLE="white-space:nowrap">Form&nbsp;T-1.</FONT> A copy of the form of warrant indenture or subscription receipt agreement,
as applicable, will be filed by post-effective amendment or by incorporation by reference to documents filed with or furnished to the SEC under the U.S. Exchange Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 26 - </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g938159g61z80.jpg" ALT="LOGO" STYLE="width:3.04in;height:0.533333in;">
 </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>US$400,000,000 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>5.875% Senior Notes due 2034 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TransAlta Corporation </B></P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:39%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROSPECTUS SUPPLEMENT </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:39%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Joint Book-Running Managers </I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="24%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="24%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-size:10pt"><B>RBC Capital Markets</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-size:10pt"><B>CIBC Capital Markets</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-size:10pt"><B>BofA Securities</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Morgan Stanley</B></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Co-Managers </I></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Scotiabank</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>BMO Capital Markets</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>TD Securities</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>National Bank of Canada<BR>Capital Markets</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>ATB Capital Markets</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Desjardins Capital Markets</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>MUFG</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>J.P. Morgan</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Mizuho</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Loop Capital Markets</B></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>December&nbsp;11, 2025 </B></P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g938159g04a04.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g938159g04a04.jpg
M_]C_X  02D9)1@ ! 0 #YP/G  #_[1-^4&AO=&]S:&]P(#,N,  X0DE-! 0
M    $V$
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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M*"@H*"@H*"@H*"@H*/_  !$( )H#70,!(@ "$0$#$0'_Q  <  $  @,! 0$
M            !@<!! 4# @C_Q !!$  " 0(#!0,(" 4$ P$!     0(#! 4&
M$1(A,35!47%R$R(R87.!D;$4%C,T4E22P2-"4Z'1%22"L@<EX6)#_\0 &@$
M @,! 0                0" P4!!O_$ "X1  (" 0(% P,#!0$        !
M @,$$3$%$B$R,T%1<1,4(D)A@14C-)&A4O_:  P# 0 "$0,1 #\ _5(  ##>
MFNK/GRL/QQ^)#,[8C7IW<;>E4E""BI/9>FK9%OI-;^M4_6QJO%<X\VIEW\3C
M5-P4=="W/*P_''XA5(MZ*<7[RH_I-;^M4_6S*NJ\7JJU77QLG]G^Y3_5U_Y_
MZ6\N .'E&]JWN&.5>3E.$W'5]3N+@*2CRMIFM58K(*:]0 ")8
M
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ML6XI)\&G[S*X$"RAB5>.)1H5*DYTZBTTE+71D]7 NKFIK49JL5D=4  6%H
M                               5YG?FS\,?W(Z2+._-GX8_N1TUZ?&C
MR>9YY?(,F#)8+$]R#RRO[7]B3K@1C(/+*_M?V).N!DW^1GJ\+P1^  "H:
M
M                                            ''S9R2OWQ^9V#CYL
MY)7[X_,C+M97;V/X*V0" D89AG2RYSFT]HCFLZ67.<VGM$$=T65=Z+07 !<
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M2<FW)MM\6QJ&.WUD961Q-1_&KK^Y+;O.4WJK6ALKMFSEU,S8E-O2OLKU11Q
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M,'-0CLR2XK>0OR%773R<O@S:QY)UI'G^(0DKY/3<\@?4H.+TDFGZSY+Q$
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MTR,Z^>+1?C7NBQ3+@0.7@F,4<2MTX/9JK=*#>\ZBX&4XN+T9ZJ$XSCS1?0
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M39WL0GW,=&.HZ,=2LX63E+D5O[_F=E'&RER*W]_S.RC=I[%\&I7V(  L)@
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MFIM,2L34FF.C'4!<2DB63E+D5O[_ )G91Q\IIK K?7U_-G81NT]B^#4K[4
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M).P!U8-2(W8Y4M*+3KRE6EZUHCOV]"E0IJ-&G"$>R*T/4 ,0JA#M0  %@
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/HJ,(K1)'H 7[%H   ?_9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g938159g08g08.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g938159g08g08.jpg
M_]C_X  02D9)1@ ! 0 #YP/G  #_[1.L4&AO=&]S:&]P(#,N,  X0DE-! 0
M    $X\
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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M*"@H*"@H*"@H*"@H_\  $0@ E0,U P$B  (1 0,1 ?_$ !P   $% 0$!
M           ! @4&!P0#"/_$ $40  $# @0#! 4(" 4% 0$   $  @,$$04&
M(3$205$387&Q(C(U@9$4,S12<G.2P14C)4)38J'P!Q8D5()#8Y/1X43Q_\0
M&@$  @,! 0                4" P0!!O_$ "X1  (! P,"!@(" P #
M   ! @,$$04A,1)!$R(R,U&!%'$C-!5"8212L?_:  P# 0 "$0,1 #\ ^J'.
MX4T2 FUBED%P$UH]*Z %[0<]!WH[1O4?%5+-N*S4\C8H20>9LJR<5K'?_H?;
MN)"TT[:4UD6U]2ITIN&.#4S*T&UQ\4UT[1__ %9:<4K+_2)/QE>S<9K&.#C.
M]S0.=U/\.14M6I_!IT<@DO863UP8)/\ *,/@EUN]E_ZKO61K#P-HR4DI+N"$
M(7#H(0A  A"$ "$(0 (0A  A"$ "$(0 (0A  A"$ "$(0 (0A  A"$ "$(0
M(0A  A"$ "$(0 (0A  A"$ "$(0 (0A  A"$ "$(0 (0A  A"$ "$(0 (0A
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M-N^Z[J;,M7$?2X'C^J@[I.>G1<<4$:]2/#+]A&9F5DS(7L/:.-@ %U8[C,=
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M;_93O>L^8F=CZ3SFK^[] =DK=DAV2M/);8\BI@=3W\E8<$RXZJ+9*H.#+Z@
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M)H/19IA=#/+54_ZIW"'@D^]:=&SLFCN%E%F_38R2;,LQGVC-]I<5PK!CV$U
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MUOJM \ E0A!T$6'1"$ (6@BQ LFF*,[QL/N0A 8&FF@.\,1_X!)\EI_X$7X
MA"[EG.E? X4\(VBC'_$)X8T;-:/ (0N9#"0J$(0="PZ(LA" !"$( $6'1"$
M(6@[@?!)V;/J-^"$(# =FSZC?@E#6C9H^"$(# MAT":Z-CO68UWB+H0@!O80
M_P */\(1\GA_A1_A"$(.80K8HV^K&P> 3T(0=$+&G=H/N2=FSZC?@A" P'9L
M^HWX)0QHV:![D(0&!4(0@ 19"$ %@DX&_5'P0A "=FSZC?@CLV?4;\$(0& [
M-GU&_!.  V "$( $(0@ 19"$ )PM^J/@D,;#NQI]R$( 3L8OX;/PA*&-&S6_
K!"$!@=8= BR$( 3A;T'P1P-^J/@A"  -:-FCX);#HA" !"$( $(0@#__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g938159g39e99.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g938159g39e99.jpg
M_]C_X  02D9)1@ ! 0 #YP/G  #_X7 D:'1T<#HO+VYS+F%D;V)E+F-O;2]X
M87 O,2XP+P \/WAP86-K970@8F5G:6X](N^[OR(@:60](E<U33!-<$-E:&E(
M>G)E4WI.5&-Z:V,Y9"(_/@H\>#IX;7!M971A('AM;&YS.G@](F%D;V)E.FYS
M.FUE=&$O(B!X.GAM<'1K/2)!9&]B92!835 @0V]R92 V+C M8S P,B W.2XQ
M-C0U,3DL(#(P,C O,#@O,C4M,3<Z-30Z,# @(" @(" @("(^"B @(#QR9&8Z
M4D1&('AM;&YS.G)D9CTB:'1T<#HO+W=W=RYW,RYO<F<O,3DY.2\P,B\R,BUR
M9&8M<WEN=&%X+6YS(R(^"B @(" @(#QR9&8Z1&5S8W)I<'1I;VX@<F1F.F%B
M;W5T/2(B"B @(" @(" @(" @('AM;&YS.GAM<#TB:'1T<#HO+VYS+F%D;V)E
M+F-O;2]X87 O,2XP+R(*(" @(" @(" @(" @>&UL;G,Z>&UP1TEM9STB:'1T
M<#HO+VYS+F%D;V)E+F-O;2]X87 O,2XP+V<O:6UG+R(*(" @(" @(" @(" @
M>&UL;G,Z<&1F/2)H='1P.B\O;G,N861O8F4N8V]M+W!D9B\Q+C,O(@H@(" @
M(" @(" @("!X;6QN<SID8STB:'1T<#HO+W!U<FPN;W)G+V1C+V5L96UE;G1S
M+S$N,2\B"B @(" @(" @(" @('AM;&YS.GAM<%109STB:'1T<#HO+VYS+F%D
M;V)E+F-O;2]X87 O,2XP+W0O<&<O(@H@(" @(" @(" @("!X;6QN<SIS=$1I
M;3TB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87 O,2XP+W-4>7!E+T1I;65N<VEO
M;G,C(@H@(" @(" @(" @("!X;6QN<SIS=$9N=#TB:'1T<#HO+VYS+F%D;V)E
M+F-O;2]X87 O,2XP+W-4>7!E+T9O;G0C(@H@(" @(" @(" @("!X;6QN<SIX
M;7!'/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C O9R\B"B @(" @(" @
M(" @('AM;&YS.FEL;'5S=')A=&]R/2)H='1P.B\O;G,N861O8F4N8V]M+VEL
M;'5S=')A=&]R+S$N,"\B"B @(" @(" @(" @('AM;&YS.GAM<$U-/2)H='1P
M.B\O;G,N861O8F4N8V]M+WAA<"\Q+C O;6TO(@H@(" @(" @(" @("!X;6QN
M<SIS=%)E9CTB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87 O,2XP+W-4>7!E+U)E
M<V]U<F-E4F5F(R(*(" @(" @(" @(" @>&UL;G,Z<W1%=G0](FAT=' Z+R]N
M<RYA9&]B92YC;VTO>&%P+S$N,"]S5'EP92]297-O=7)C945V96YT(R(^"B @
M(" @(" @(#QX;7 Z0W)E871E1&%T93XR,#(U+3$R+3$P5#$W.C$W.C0U*S U
M.C,P/"]X;7 Z0W)E871E1&%T93X*(" @(" @(" @/'AM<#I#<F5A=&]R5&]O
M;#Y!9&]B92!);&QU<W1R871O<B R-2XP("A7:6YD;W=S*3PO>&UP.D-R96%T
M;W)4;V]L/@H@(" @(" @(" \>&UP.DUO9&EF>41A=&4^,C R-2TQ,BTQ,%0Q
M-SHQ-SHT-2LP-3HS,#PO>&UP.DUO9&EF>41A=&4^"B @(" @(" @(#QX;7 Z
M365T861A=&%$871E/C(P,C4M,3(M,3!4,3<Z,3<Z-#4K,#4Z,S \+WAM<#I-
M971A9&%T841A=&4^"B @(" @(" @(#QX;7 Z5&AU;6)N86EL<SX*(" @(" @
M(" @(" @/')D9CI!;'0^"B @(" @(" @(" @(" @(#QR9&8Z;&D@<F1F.G!A
M<G-E5'EP93TB4F5S;W5R8V4B/@H@(" @(" @(" @(" @(" @(" \>&UP1TEM
M9SIW:61T:#XR-38\+WAM<$=);6<Z=VED=&@^"B @(" @(" @(" @(" @(" @
M(#QX;7!'26UG.FAE:6=H=#XQ,C@\+WAM<$=);6<Z:&5I9VAT/@H@(" @(" @
M(" @(" @(" @(" \>&UP1TEM9SIF;W)M870^2E!%1SPO>&UP1TEM9SIF;W)M
M870^"B @(" @(" @(" @(" @(" @(#QX;7!'26UG.FEM86=E/B\Y:B\T04%1
M4VM:2E)G04)!9T5!4T%"24%!1"\W44%S54=H=F1'.7IA1SEW241-=4U!0311
M:VQ.02LP04%!04%!0D%!4T%!04%!14$F(WA!.T%10DE!04%!05%!0B\K-$%$
M:T9K8C)*;$%'5$%!04%!068O8D%)44%"9U%%0D%514)G549"9VM'0E%92D-W
M9T="9V=,1$%O2T-W;TLF(WA!.T1"04U$07=-1$%W441!-%!%03A/1$)-5$9"
M451%>'=B1WAS8TAX.&9(>#AF2'@X9DAW14A"=V-.1$$P645"05E':%521E)O
M9DAX.&8F(WA!.TAX.&9(>#AF2'@X9DAX.&9(>#AF2'@X9DAX.&9(>#AF2'@X
M9DAX.&9(>#AF2'@X9DAX.&9(>#AF2'@X9B\X04%%46=!9T%%04%W15(F(WA!
M.T%!25)!44U2068O14%A24%!04%(05%%0D%114%!04%!04%!04%!449!=TE'
M05%!2$-!:TM#=T5!06=)1$%114)!445!04%!04%!04$F(WA!.T%104-!=U%&
M0F=C24-1;TQ%04%#05%-1$%G44-"9V-$0D%)1T%N34)!9TU20D%!1DE227A1
M5D5'13)%:6-9155-<$=H0GA7>%%I4$(F(WA!.U5T2&A->%II.$-2>6=V16Q1
M>E)4:W%+>5DS4$-.55%N:S9/>DYH9%5:2%1$,'5)24IO34I#:&=::$I21E)Q
M4S!6=$Y62T)R>30O4$4F(WA!.S%/5#!:6%=&;&%7,7AD6&PY5UHR:'!A;71S
M8E<U=EDS4C%D;F0T95AP-V9(,2MF,T]%:%EA2&E);4MI-'E.:F\K0VLU4U9L
M<&59;5HF(WA!.W%B;DHR96XU2VIP2U=M<#9I<'%Q=7-R839V;U)!04E#05%)
M1$)1545"45E%0T%-1&)114%!:$5$0D-%4TU514954DYH26=:>&=:17DF(WA!
M.V]B2'=&34A2-%-.0T962FEC=D5Z2D121&=H85-5>5=I63=,0T(S4%-.94I%
M9WAD56MW9TI#:&=:2FI:1D=I9&MD1E4S.'%/>G=Y9W F(WA!.S K4'IH2E-K
M=$U453504FQD65=6<&)81C%E6#%2;%IM9&]A5W!R8D<Q=6(R4C%D;F0T95AP
M-V9(,2MF,T]%:%EA2&E);4MI-'E.:F\F(WA!.RM$;$I75VPU:5IM<'5C;EHV
M9FMQ3VMP86%N<4MM<7$V>71R<2MV+V%!07=$05%!0T5135)!1#A!.54T<3=&
M6%EQ-T9867$W1EA9<3<F(WA!.T9867$W1EA9<3=&541R,3E,<"MH-FIF=V=.
M3&%7<S X870P3%)X;'=$-U9'1TES,'(T9# S5F9)3W-V.64X.5A/=%1A>$YC
M=DIE,V0F(WA!.VM96D1,0WE-4B]F:S!C4V-12T-N1W9T;31):TYO,518<VYT
M:&]0-4TS<#4R3G0U<79B4G!F445Q43)N<65P24DK16-F0FU74U%%3C@F(WA!
M.TE7<#5J*U@T;T=746,K1F%#1G,O2EAL5C)G*W5A5C5L:&AE-6EH37DR>7!Y
M:2]E975F:E)W6E8O9'-Q<G1X<EAX=VY*3'9I;6=V=60F(WA!.TDO2F943&UE
M3%994$Y.<W,P56,R;&U63$Y894M326IN2D51;$M42V5*1&M-=3%.=5)23$EE
M6$-I9WEN.&MT8S!'=R]/6%1.2SAK6&TF(WA!.W!N>3-Q='9-;6\R*W%E:4AE
M94M#855%3$0X1D9-86-7*S%U=S9D83E216Y'5$MR0U)Z9E=/87AM-T9867$W
M1EA9<3=&6%EQ-T9867$F(WA!.S=&6%EQ-T9867$W1EA9<7 S1C%B5S!F<5A%
M>5%X,7!Z:UE)2VYT53!W9TMH=C U;VXO5G=T=CA!:V1(+T%&>#14,TMS4&U(
M44))27HF(WA!.W%D;TI'1E94,30K4DAY-5EE13EY<FPQ-U$R1E8Q1S%)<5)5
M5%)N8T=H+V%X-%0S2S0V-V]G1E1Q1G14+T%)>E(O=T)C944Y>75'=F$F(WA!
M.T=W1$QQ3G%19'=23DA1:C<X944Y>70O<'I24"MR:&)F.&IO+S8T3T4Y>71F
M<"]1=5A$.4DR=DML95!R4C%P-# U665%.7ET+W!Z4E F(WA!.RMR:&)F.&IO
M+W=#=41H4&-R5&$O;U-+5V)58E962%5M84U$+T%);&@T5#-+,RMN3D4O-G5&
M="]Y3VHO<F<T5#-+<'HV<C5E=4E*24HF(WA!.S<R,6MH;59O-5DR;&I)6E=&
M1T(S-VI#26Q8>F9R4#A!>FDO;V-U<'IT;W9N1WIH<T,S2T\R=65,>7A":E5)
M6%=18W%$;V%$32M/<DXF(WA!.V)X66-#='!F+T]0+T%*:#!L55A3+W=!>&)7
M>$5C:&U1,C=.15))=T-L9U9L0G)244U4<5%E8U4X3&1H*U5V;FEA4R]T;"]-
M=&]9<EDF(WA!.VUY3%-35&E/84HT,6U925=L;WEC<&U"2&IV-%E$;6HO0416
M;SDV5W8O=T$T=74Y3V9N8E1M-&EG<71A1'<O=DUL*V(O04M*4G=--2\F(WA!
M.TM8.&Q02R]K:GI!=79A:C5K=&13,5-*2D9S66\R:FEJ:41R=V549#):,C1V
M>#=!5C<U5&TQ17!I9TYK:4Y06G8P-6]N+U9W='8K4C F(WA!.V8Y8WA/13EZ
M2F\V.6]1254V:F%G;F]05VIQ868W3$1W;G56=CE/84HO=T)80S(O-4A2+S%W
M8THW;&0K;DY%+S9U1G0O>4]J+T%+-#@F(WA!.THW;&%'=F%'4U%.4G134G-F
M,S!E>#8K3TAH4&-R9C9C,%0O<317,R]!0T]J+W)G-%0S2S$K;G1#-6-F,&IA
M.&E+.&97:G)4+T%)3$0F(WA!.W=N=59V.4]A2B\Q8TQB+VMD2"]80G=N=59P
M=&4P3E9,3G%.<7%Q2VMM84U!068W3$1W;G56=S$S4D-+:E5,86XO1V%0*W50
M0V4U5R\F(WA!.S U;VXO5G=T=BM2,&8Y8TA#93554F)89')C;UI,85I*,$(T
M;#0R1&=(<E-Q:RM/2D9+<31&9&ER>C@O;6).8S,P.&1L1&)1,FM12E<F(WA!
M.V4W;%I#-$)P54)15%5J9FE!8U958G9Z4#5H9E=R835J=61-.4\P4C!K=&AC
M24DU1$]&269N2GA91U!J43A4,W=G-U5Q=F8X035H87@F(WA!.W O-WEE,G-B
M:4%496IY=')J;5AO;UEL2U8R;V5P2%A!<DM03'0O0G%-9#-F458Y3S1L:F1A
M.5%$8E%N:69K8314,%9)8FIZ:V1.=&0F(WA!.TXP,C!J:&4W*W!25%-V8U-E
M;$="-EEO9U!D,GAL>DMO2%9F3EAM0S=S2G))>3986B]7:VMH*W1#-5=8,#9Q
M,5-55754<W1.:#-'350F(WA!.U)617<K9#EC9FMT3DQ$2T(Y=3=#;'1Y<'!5
M9U8K2"]/=4)5*SAS95I6,6AB:4=216IV3%%P-C9X3TI9:4I"549(2%AO468Q
M-'%J.5 F(WA!.S-V3E1*-B]715=V96=T-&E".3=(2DAK1EDQ<E!N,E=$5W!T
M2W-)64,Y=40V<S$Q3#93331P5D4W5D9E-3,O6$95<C%$>E@U:'9B3TLF(WA!
M.U):9$]T:W0U27)U4TY,;4YN:U-&:$HV4E9U4BM)<4LX9FDR<&A"<%5C+VY4
M>D%$3'=I,'E667953$UL,$154FUJ14%K3E1W<4XX0W,F(WA!.VDX<V5964YE
M,'1B-D]->$U(36,P4DYE3'%!84$P1E)29V-6470S<G1V;VUG6$]O5$M:0TQQ
M-5=/34=H9'IC>4)26#5$-VAH:W)&3%0F(WA!.S@Q3E5U8F=1:3!T665166@U
M6DA69FA5=%%T-&UL0C<T1E9T3SAX82]B,S)O,T)L,'AV,&A+:S8R-S-C64-&
M24DT4T9+;FMA*VU+.&HF(WA!.S$Y<TI.,'%L6B]M,V-F5S!3.7-O>&)&<5-0
M17A,069Z0W1185E&6C0W2RMS5V)+87$Q<F-&4T\T3'=996ES4CAY9FUA,FYA
M<$Y95U8F(WA!.V]S=W1Y56QL:UEI<FIQ1D$X3VU"54AC*V)T93%+1S!L:&5W
M=&92;&AU=68Q;$999T4X;VU%;GA$:W168FIV42M",TE.2W8Q5#AY9%DF(WA!
M.S V6DEP3&5X;DQO2D$Y=DU:5D9E>$MN<4U#<W8X<V5964YE,'1B-DM->$U'
M36,P4DYE3'%!4T%E-&]W3TMO;E0O=T1E=E4O*UEL9BLF(WA!.V]A2$-E:7-*
M,7(X,4AT9%)M=')#,%-71T)J1UIP1U!X37!O4T%V8G=W2W-U9DYM=EAK=&AD
M>%1A9$9&87E,3S9F5U5!8U-11F5,:50F(WA!.S1X=SEB-'5/.5%2:$)68F9F
M;69Q=&QC*VDY<F%49V(K<$)+>F]10U)S=RM70E=C841R3G9R3VQ1-FA!<%):
M45$P6DY3<DMA371F;FDF(WA!.W$W4CER17(P4T]A-&I19&Q33V0P4E(W2W%G
M1$I3-7%T8GI(-656:7)A<&%+=S))33A122\T8DEQ.'=S=CAB2G)Z47HO04IL
M,E5J3&(F(WA!.U%Y4WE$5')667!"-C!N=V5T>3E-36\R-&<X<4Y7;5I";$-V
M<"LQ1# Y9DUF;#4R0W!Q;&]Z2%E+2C1I4V8K0WI(4VU'2W9'22]+:TXF(WA!
M.V\P.$=S46%G3&Q*07-*<S1"2D<P639V>4Y+.'4Q1'1I<71B,C!C9'!,64-(
M56QS-5-/4BMP;WHO04=T.7IU3V=06'A(9D952$HU9'0F(WA!.UAH:U<Q=#E4
M938U15%).7125T)O1G%15%1U5&ER,#-Y5EE4-F9P:W1N8U5%.$UI0U%$96I'
M,FA*2#!6<&A04E=!96-03"MQ>414=%$F(WA!.W0W9#=I,FUS<F1E55-L>7)*
M1T)29TMK9E!'6$UQ<E=E;S-Q5R]R86I"8VUD23DO.4%I6D%%57AQ<G5Y:'%"
M0417=3-H9U9"-GEL-TPF(WA!.UEX,G1N1&5815E)0CEE>&IJ9%950VQ*1E9N
M,R]!3F)&5U4O;&)O5V\R358U95AK3%%#-$-*0VMG2W-1=%-72VYC1&-5>%9L
M*VXO-S$F(WA!.S9N+WI%<B\Q1%$T5#!6-6HU;3!R>D9P6&UM-W8W2S)E5DQL
M,FMI;5=)5&]22G5624MS=%%F15E&4E9T<58P26M-.$XR2E-),VY69$TF(WA!
M.W0S:EIG5'E507)'449',UAR=G1I<58V<RMQ3D4Y<%I7='A087I+;V1P-TI6
M:U5)1D-G37%61D]0631Q>GHX=4Y)=G1-.'9T2&5X;4<F(WA!.U=E9'!H13)Z
M2W!65DA)9&HX1F-642]M:E-,>E902U4X3FUN<51W,W1X34EH.7!G='A+0T8Y
M-DY81$I70V%0.$%P,C!D24HW3V1B4F8F(WA!.U4U03)I>7-#-$A+;G%2='5E
M038T1E1V-C%!-#1+=#A"1V%H5C!U,E1I*WI#<%5%:EIS5EDV9$HX>F%Z9E%X
M=EI3*W)X15-S651%:7$F(WA!.T0Q63A61S%D>6-697=X=T-$57109T)Q27)/
M9$%F2&DQ=4U04EAM=FU85&9-;6UE63<K93)T5VUG=EI$2W)I151X<W!B;49)
M2W-.:C$F(WA!.T)W2VEK,4)H1$A,4$9D=UA2;U@Y3%1,9F=(8F)I<D958EIM
M;TLY.%911W%85W-R32]W0VIB931L:&YH36-X;'-)-&U&5UDP06I3;&8F(WA!
M.VER>4<K2W,U+TQR4C<W4R],-6IV67I&3F-43D]);3):5EI654)H,E!W5GA6
M3SE0+T%.-CE4+S5I5B\V:&]C2C9+.&,Q-WEZ<FQJ<D8F(WA!.W=V,5-A4F96
M6C1:;S0R9$=5=%930T%2.'AG5E!'=7=W:44S-E$Y5GI74GIP,$1/,'8Y-'A6
M>45F-UA,8F9B1E5I,7%W,4,V=6]V<70F(WA!.W!D>7AP1W%+6'1J1S%A:SAA
M24\Q8U9E<&529$EU=$PX=5%7.3!V0S1D;6QE33E6-6Y92#-P4W5+<%HU<W5*
M-%!*1BLP3$9'939N4FTF(WA!.UA9.%=V2$1#=G8P>55L64)O3B]9=$Y&83-/
M;C(P;D9*07-Z4E-Y3WI53$QY5TXQ<G5+5CA-:7%C>5=6;SEZ2T=H<W)D26QJ
M:&-#>G4F(WA!.SEM<39Q84U'25EQ3U939"]N6$9+5F5:<&]B3S5U9$Q/;E=C
M8W%H0CE::%-D2%AK1FLR5U9Z5'<K>C!X43E/.&=Z>E1E561/95II-V@F(WA!
M.UA4:S-8:6MR2V\K:%9!>%90.%9D:7)S5EEP<F9L85A8-VE:671:,4A2>EHS
M-GI-9$YM.40Q:#E7:"]D>3=(:W9T;'-:.%!11E5&-5(F(WA!.W-.3SAN-E!$
M3G%0;4\O=EER>3-H.4M,5DQG6$)J-#@S+V1!2T<K>DM&3S-25G=:6C)E44-H
M3'90,G5E6$Y7,#E*<F)Z0G%&<S%K2&,F(WA!.S)/;4U9:F0X;5$K;DHV:6-7
M5VE%9DIJ,399-#5596EP<C5D.'EE5DY(<T=T6#AW,T]P1C58;3EE+TUK,'$X
M-D@P=S-$-TLY:&M:4W,F(WA!.W%Y5G1F,&-A4F-A=TQP1S R,6IK;75,:$MU
M15-*4S=K:%%7<7%I=$M6=T%7859J6&PO.$%->GE2<4=R3F%7=7!H<FY66F]:
M9%!J84<F(WA!.V5->7!.84LX6DA.1D$U3$$Y3U9/;G5-=&QI:T)Y-4QB23E2
M.'AA2' P;VEV8C)+0U5I=G!S8714>$E&4TUP5DM.5B]-2'DO8G=29E8F(WA!
M.TQP3&EA86%/1W%Q5U=.6D=!85=116]E0TQU84=U1TE6<B]'3VXO.$%6.7-F
M*VMA6"]Q=&IS<2]84$QK4&TS4E):-FAC,C$U<&MZ<$TF(WA!.W!H4V%/<&IA
M;TMY4EA+;G(W-4]-*T4R1E$K:6519DIF:WE7-S%U>&=K=#5E13<S57I45%-!
M<DU9,V-C2%IH,6A8:5 V-'IY>6M+2S F(WA!.VQ$9FUD8V%J4$I:5U=K*W%K
M>75Q<3@S0C)52U,S44-H-&IO1%AW>71732M5+TQ%;FPO5VXQ3%1F2WA%<TEJ
M5WIR4&-E<$=O="]264\F(WA!.UI*2%=8:W4T;VDP,C9M:'DR95EY1D9A6FXU
M9"]--D15=%)I<V)Y,"MQ=$]W4T=66#5Q6&):5EE%06EP-S55<6PU:B]+9GE*
M<B]M<'(F(WA!.R]63$(W:3=V;R]8=6Y&>$]G3%=O:6AH*T)(5D%/3$AT=FPP
M8S!H1V=I;5%7.34U5SAR869:-DM,<$Q70WIH4T<R9VMK85(Q:E%55W F(WA!
M.UES,U1X>7%5<DYL3$9V3T]N+VPO<2MQ-F9R3C-"3'%';TQ*85<V96U::$=T
M=GIK4'%/9TM!;T5U2D155E!4<E1,36519U5T36QS.60F(WA!.SAP84Q95VUL
M>#-G9W0W4T-+2S)J;3E1=C93249J<7IJ:S-W9V)N2WEB3G%N='9C5SEZ06LY
M=DES<TUG<6MI14UP2'-29U9$868O=E@F(WA!.W%F.$%Z17(O04Y1,$]%.499
M:')V-7!25T]O>E=D;EII-%<S67AY5$\O149L3D1X04(R0C<Q=TMW:E=02W9L
M+U=D6%A8;G,W14<V=6\F(WA!.V(S54$K;WIJ,4=20T9(05!%,&9&<$)Y*T9H
M=#!P=FPP8SAG2U=M57 U.69Y-6(R96M1,D9V3EHR:T5C5G598G-Z:C!O>#9A
M:C%#<D<F(WA!.W1%+V$S>6]M>F%S;VMS=DQV;FY13%(W-D(U<E Q5FY%2'%3
M4D9:67%R>&-X36Y*9'E#<"M%:G1H:DUX-4MG4$LO=T-86&LV=VAU8FDF(WA!
M.WDP+S!X9E)V87E!>7I32DIB4GE%46M#4C-'-F]R0FPK67E75$E4<U9B:2]+
M+U%O2B]7=#=U.6=K,S1L2DEW5G(T17AK-5=Q369Y4D<F(WA!.S9U<VUS-F\V
M>4M9,T0S0W-#<$)&1%=-*T]+;T%F;%0U9#E13SEX95-5<%98:VIO861J4TU(
M.&-66F1A,G1V85<X9'1B4FE+0TI1<V,F(WA!.V$Y04)I<7)I<G-69&EQ0S O
M=T0S<C%0+T%*:58O=T-O84A#96EV2E!-.'5P-F9R<V-7<5<Y=F-',71L=#19
M<7E013!)0E9(,SE-:'$F(WA!.V)M;E)S37%V6E8R;EAU:3-%06MN6%0Y3VYJ
M3"MI2&=M;41%;7$X9T=D84QY,C5+9G!Y2W%7<UAU:U)*0SEN1EE4:55$,45H
M:6U1;WDF(WA!.V=(9C%78F)K,V)R5$974R]L5DY*8S-'<T9O,5<S;#E.;FE2
M44EW>D8Y;%AO0E1T:7).=%!I:BMU86EE0S%3-55)84199E9O=6XO0G0F(WA!
M.SDU>5(V2SAI.#%08U=F;D<K;7591FU0<DTV>%1G<VIX<TM*,T<S2'!1-UI&
M559B>F%"2EIX2D\R;E)Y04-2*U5.=T@O04AJ;5%X.#0F(WA!.VEA.%%E4%19
M57!I<5@V.5!P:V).1%I2,FLX8V=,2E!!<WEM3W)G.&9J8F-G2C-(4G9L:7))
M9DM':F5F<G)Y.&8P4')53VI7>C-3>5$F(WA!.VU7>D9Y-TE%6EI13V)Q=D8R
M2T9A1%EQ9DAE8T1%8WAA<&IQ3VHK94Q(>3ER3#8S-6AI,64R93-J1550,4]/
M0FM:0V9564Y%52LS5F0F(WA!.VU$57!T:&Y+2C5#;%E0-6-.;#EB9&)R,&9J
M54Q'<SA5:W%L=6%K+S-25FPK14AC5CA-<E9K355&:W!U27!5<S1:2DMX:C%,
M83E-:UHF(WA!.V%R;FE.>7!$2&@Y2'IQ<%ES,7!(9&$Q.55H:T-X>C-0<'AY
M,GAK44%02E%'23%%9W!8-&0V*RM%1VM05#E..'(K97),>D9C6' X>7@F(WA!
M.U1A4DQ)1UA4<$Q)37=4,&Y89UHR:TUX-'E-:D-R;F]2,WEW>FE2>3-69V5Q
M<%!B83ED4BM:;V9R;#=)>4=383-9=TMA<CEQ25 V;G<F(WA!.VYA;DMV4VU6
M;7(R5FM%4W=W96Q&85A,2F)!8U1(*VPP:5!%8W5+.$=J:EI30V$K1T)+5#8Y
M9#98.5E35S9A5%5:,35X3F)V9%!+668F(WA!.U0U3%%Y.$4U0FUC34]0.$%,
M-S1O6G8X06QB1&-X*U=#6F=1:VQW-W=C=CA!9F9&4E5E,TE.:7))=% X03DV
M.50O=T-9;&8X07%':'<F(WA!.VYO<GHV-3AI95ER9GI23&4R:4=3,&%74UI*
M,$U*8T)W>#1L2FU513<P.$\K0E5X=4Y*,6-'0T-A0U5P8T9O;%4R,FUH;$EI
M9#$T37(F(WA!.SE2>#<P,CDV63!Q0C$S>6HU:W9R1TM+2T=A85-/4W9'45=C
M27!1:FQY:FM*4'E05$974BM64$EU;&%6<#1.,V%15#9L3T%B=5IL16<F(WA!
M.U!%<U558W$O6D15,C8U3&E.57)*,59654MO0W%O;T%.9T%-:7)E2W5X5C)+
M=7A6,DMP5#5O,35.1#!I4RM+97)*55)W>&LP0F1U;%0F(WA!.S1#;&-667A"
M-7<X>GI76#%S6%=I25!4.5514$I+2F%5<G@T.'9T9'%E3TMP95!-,VUR4S5D
M4VUA+W="3'9F6&Y-,T%054IX:6E4:$0F(WA!.W<Y36QA57!Z2DY1,BM%;%9/
M-S%M4%9T5'-,9GI&83).>$9/-6AI;G-:2$5S9%=#,6%J=#A.5#!0>D="5U5F
M.$%+=%!+6"],4$HO>4XF(WA!.V8K=4MP6#5L.&]E5'1%,&EA+V$P:VM:2TQ&
M2#9Z:FLW1V="3F5N8S1Q;%AL1'I83D)A6$9V8E)7=6YW>$97<71T8UA(3715
M5FMC4S$F(WA!.T(R049C5E)U;F5:=&)H=4PV4U153%AN9%1,3#9%.6YD9G4O
M,U-2.%8Y26)$-% R>5180U-Q1VHO041)-39U24Y8=#=+-# Y2D1'8G0F(WA!
M.UDR5&ET84=4.3AZ,%5D5%=M0E9B>E8O:DLW=E=8>6I:*UAP=$E73T=32S=V
M1$I6-VA*5F1K3%)C531&4#5/6'525VU8445".58R=38F(WA!.V97=#-B5S%L
M<#%T<D57:V8T9W9N:VI7,V=:631835EE47-N35-354539W1S844K1RM135%B
M<FMQ,U=V3DAM<7AU;V)B4W9,4S9X1S F(WA!.U%D-6)E+VAJ5D<U35!4-'EQ
M<D=I9T=T3RM'35EN;6%61S989F599%@P950Y2S9$2' P<W)347DR13DR2D$P
M5DM"=6-58D0T<3E/,D,F(WA!.U%!4$Y72%AV:T]A=T9Z9F%F36]N=#1P6&=T
M;S=O1U9N0T=K87-956]74'<Q4%1!04\Y56DP85AZ;F9A;610;6EU66)68FA)
M<C)4.4HF(WA!.U%/,79'.&%S<VMK2F]X4&-$63!Y>5=/24A.5V4K6&9Y+W="
M0S R+U<X1C!B,C1I*TM&4U9#<5(K,7A7=%-/,E5Q>D1&5D,U<V)'-C0F(WA!
M.R]7<F5+9FHY;C%55C9F3&M$:7%H*V=T1"]W0W)D8F8X:5DO-EEQ,DY#,%%'
M;S K,D)(42MJ2"]41E9393ET<F1L9U5'4V-Q1$AA>$$F(WA!.T8K4%%(:G-&
M5V]P>6%I*RM%0EA71G,X14QE<5$P.')T3$UW2DDU3V$P0D\U0TQ20C=!66MQ
M=U!6+W=!>61B6%9,<3,P<7AJ;'0W85$F(WA!.WA&,U-34FE14W1F9UIA5DDR
M1T)7<FYZ4G)6,TQ95&TK:'18=%I22SEO3$LT-75Z4D9(4G=F57%%.5$O6F14
M=#E'1496=7)F;4HU:',F(WA!.V)G2D-L<&1W;%$S<D,S=5EQ5G%W0D5J9V=L
M2TXX:F=6139P*V%54V%.85,R2U).<61W0UIR9#(U96E&2EAK>6=H<4]1949F
M02M'3DLF(WA!.VAD33@X*UE,,GAL=5I,=3-T>D4O17%B5V%24W1!83@T>7="
M,S9(1E8Y,S4P.'<R.7)03TPR,6LY13!#:3%U1D1'=$-/5$)12V)$9G8F(WA!
M.VEQ33AK969R,U=.4D]N86A&1TI(5FYH;&E"6&1D>7)!:SEU-'A6;E=+=7A6
M,DMP4C5Q,$)D9#!E4W@Y5#!P3U%K:&M)<4$V.4MJ=TDF(WA!.TI'2W-3:CAS
M9FU"06M5555L:55T,3E/16Q%96EG,3),>&QU=2]T:7%'=&9,;FYS<%!A>'9:
M1EE'14PX,&E99RMK<D1I>&I**WDT*VTF(WA!.W5.2VHW3'E6-6EV3E5T3')7
M-7):66)35#%1='5Q<3=K14U!94-)=$MJ<C%X5FXR2W!6-6TP3F1B,&5A=TPK
M:S<P84M1:6]$<6%I;S@F(WA!.T0P>%9H3VDK45!-1VU4>7E30DIT:#9):'5P
M24)Z1E%'2E9/6%%N-SA65$=,4CEF3C%,2F%X3C8Y<$EI3#8Y+TTT<456*THT
M<6Q6-%,F(WA!.VUN>E!81VQ3>E0O>78Q3V969G)/<DY!=&U:1$I.0VI.2UA"
M4$EP.%$V2&]A;D973F5B<G4T;#AZ6&%..%5D<DU93&%#;G=*2$=E2V\F(WA!
M.W%D2V)D3594;&],1S%K<DQ"67EI-%)76EI,3S91:%!H05E+=$]*3DMI;7A&
M9DA&2U%A.%=G,4-#4T-!5VY#2TUX4U)).%!*:#%C0FTF(WA!.UDQ1&)6<G93
M=4M(;U!M,U8Y450X=C=+-5-5<F-8<V1U<SAI-T5I4TQM.4MD2VM9<7=,4G1"
M839E,FTU5S%Z2$M32'1$8W)$3#%:84@F(WA!.VQU1#A0261E,WEX5E!5.')7
M559S,#!U;DI-1D1S=UA562M9561#1E9..6I3;&5V,UEQ>&4W=#=Z4G(Q2&EU
M22]75#0T<&)76EIA55 F(WA!.SAY2')I<C%U-#AX*UEJ-6-I,4A44$PX,3EF
M>5)24W):5'IW,G9,,4%#=S5G>CA3=&5H6$II279C<7 V0C5K.#0S.3-C>&%L
M-59B4S0F(WA!.T5$+U9R:')Y2UE337)Q<3@Q5E9+06AI,5)Y,DA4<&AL1TDU
M1E4W<G)C;3-#,G1U+U!L2F-6.75(1S-P."M8,%I$6EAF;S9E6&4W=DHF(WA!
M.UI+-VU/12]6-'=E,T5P*SDK9WE(1&%O:3)T3&$Q:DUD=D5S4T4X;4-!0W)5
M<'E0:61U<'=%,G%R9U8U,W%8:TQZ3$)Q.7ID-DIF96PF(WA!.V(S56AL6E9L
M94=116MM:#1G9S U1VAX5D<V:&\R<G9.0VMS9'A3859L='@K:VY)5G946FEA
M=$5Z9EE1+W1F2VU.2VPY.35*.#%4:$4F(WA!.W1:9G%Y=7!3-3E3-VMK5FAX
M.4Y2.6IO27E2,#=N1E58<5@U67).;V1J83)S-D158E%-2&YC14Q)2%EU5DI!
M3$%+>"M(-F9(1E9U:2LF(WA!.U0O3G5K5V-L=&)V64US>FPU5V%7-$)98V5)
M6#1%6%EB;C,W-'$T*UAV3E=Q-E%%6F10.$%Q,31V<G%';'5I5F%62S@V34A8
M;%9U5E0F(WA!.UAF16EL5RM49DM-1V@V;3DW<5=O,G)815-T2$9&1DI52U<R
M67-80T=T3G%5>%9M,S96,'8O;'-G+W=#4FEF,7A656AV<DMD*T5.>$@F(WA!
M.TLY2SA59%=.4&M$:7%T:7%2*V,Y9FXP4%)(=DQD03@W=7-56$QD5EIQ;FM2
M,V]":7)&8EA7=DU5,&1T2E U9VMT:F-X*W%%+U)V3V<F(WA!.V%N2&=1;GA6
M,S-X5DQ9.5@X=U=C5C-D,BMU5$\Y,4E:;D0R:$MS-&EJ5F5*9%=61DE5:6DP
M2'<Q-S135E1+,#@T83-983-:5W0U9DPF(WA!.W%6<F1Y0TM5;3).=5EY>D)D
M=F=3<%5N9EDT1F5J67%K,VTW6$I.1C!/83EH55!/0W-C26(W4$IZ4W K43-X
M5FED;G(S;6TT=$5K:W4F(WA!.V(V3V1K3$993&$P;E%K1G1X6&=W1D8V2&5U
M2W)R5G1F=')U*VMJ;C%A2G(S+U-/37-D<DDU;&I33D<T4E-%1&IX2#)9-F50
M:FA*=%<F(WA!.VPX,C8Y<#EX<&,Q>E!,9#)6*S57451W4E$P6&M!1VI-6%4P
M3E-$.'-#<'IR4#5E861Q3W%N531B;5-Z=5=94U!W05I3-C!O=T(V2&(F(WA!
M.T951R]L>&)6+U%L.#-4=W9(=5E:2FQ"1F0Y,5HK.6-):593-69)9FQ6<&QE
M-#AW3$UO4'A+6EEG4T]T3U):<5DX2C=L6E1Q1&559%$F(WA!.S!P=$EL=G)5
M5WEO:4MI5'AH;W=V,D-U-7!3;3)(:%!C<D9R9GE.-6-T<&A.8BM:16IK5W9&
M=SA.4E5%2&9L-$A"=VYU5D9284MX=4HF(WA!.TAN.# S36%X3T)A,T5S9S13
M;U55;&\S6G5,,%II<#1K,'!V,7<X2E9$5W9K4'EF2&-P3&-A,TAC4G%E5%)'
M5TI1,W-31TIP-#1/13DF(WA!.WEV47)7-'1*-'56<DQ(3$5V=S%I6E=554%.
M4&@R-D59:TMQ-$991C4X.#!A=F)A>F$V3G P-C)F<DMH;'5N;TXU5TMI<D5(
M:7$P<50F(WA!.VEQ5S)E<&59-V9N.64Q1T\V:&I91C598BM.4T%X2TM+:FU+
M8W0O<S%X5D4S96\V>$QA;4LQ,4=+,W5#>DUL=RMQ4E-5455)1$Q11',F(WA!
M.U%#3S4S>%93.'$K94PK>C%D9$XX=S-S8E%4<6=I=4I(5#1:2D9$279-8DAK
M1V]2,E P-%%#95-S93%$>CDU;75R=5-A3SAE,FE9;C F(WA!.S19<4MQ<C)(
M5&8U;D%Q9&U$53<K3WEU-7)N5FYL:&1*<EI6.48O,W9O<4@T:U-*,3E9.$]3
M.4MD.$E.2VQ/<V5A4$U.<&9V0D)Q1CDF(WA!.T=Q9%DW<FEK<6UP;T=!+WEA
M649E9RM14$U.-7)7:DY*945.8S(X:&EE44%$;4])64U13G$W-'%Y8D9716$Q
M<2MT,E!K83,K<C)4;&TF(WA!.W0T635B-DM73E5I:6%-9G911UE316LP6&E&
M,C56<6%:3U%&;F18;G9L;$E:9%9%33!A4W)+:FEK:TUL=T)18VE1:U)$,6]V
M561-9W$F(WA!.V9V1G!Y,TU94S)S0W%!4VQV<3$T5D]X6&AX8VAJ,41B:C9D
M<U5S6G5B>5=(5F9R3G-Q,C!K3$PV4FE5>&='34%"*TI*;U=P>5!Z>%$F(WA!
M.RMG3593,WI&;U9T<FUL>5=%-T=-35$X8W$W;$A8;V%D+T1&5TQ*-40X,'@X
M9E0X>'E)15%2<'@Y4F%)=7=5569P:7%&=%!),VU2=G(F(WA!.U9T2'(X:5)W
M4#9,<4]D1T124G0P-61/3$%F4FA)5DTY3SAH6#,V5'1R-U=.5VLQ15=B97!"
M1W=9+T97;W%Z37AO0T%A649:;&EQ03$F(WA!.S-2<F)79$UM,"LT2E9*849:
M1C9Q>6UQ<TLT<7=U,"]+-CAT<F]4;E5)<F=,54)*66E63S-%5D)9.4)I<4QT
M9DHX,&MS<UE3>$)S-74F(WA!.TA,,'!I5'EI5U-O<DMA9C-N-%E31E%L;BM7
M<6%B2TY2,4<K*W,R,6E$4#9#25)Y.4EC<59,2&)B07%85VXU:"M:=%)V<$DT
M6DDW9%,F(WA!.T,P56%13DY3:$=X<%9Q53-*<#E'2W$X5W,V>'!Q86A+9&9J
M95=76G R5U<P;DDY46A5.4U->4QW05)D:"]80U1A<#$U03@U,RMT>E@F(WA!
M.T9N9F]H;6A4,55M46-A<E5+47<X9"LR0E=4868O=EAQ9B]-4W8O54Y$:%!2
M56)G5DMF3D]U9F]44G!R.$E*2E9O:TM(;UA9,$9A9&@F(WA!.S%X5F=L<#5Y
M.'I854-4=G%S5G V:&9J1S%Q>DQ62U5#<W%05W1F;WA6<V%V<E9V9GDS4CAX
M;UIB;$DP;417:W9#35)"*THT=$5V1F4F(WA!.U1-0V9W=S-T4W)B:GHW-6<P
M,F5"-4PV3%5%86YR,GI7-U%-=G=Q4TML5B]M27%+.4]M0E4U.#-E5' O378Q
M5%8Y3FM22EI)13525$4F(WA!.W%'46IM<$)!8C1V:6]C5E=A2#53,7)48D),
M95,Q:6UL17!L37$S05-H;T%O06%.>%1R6&)F1EAA<C51,5<K,#0R:5=-351+
M4S!4=$\F(WA!.VIK5DI.3U-W22]6<3=T:7)F:W(X=G)V4V11+U-'<%-2=DI'
M<$5%35I,044W8VU*039D<5EQ:S)O9FQ4<D-8:FUX;&AL=$-X35EK6FPF(WA!
M.V-,6#=,8D@W=V-64D]O95<Y6E<V=&QK,&Y41DXU35EO5E)P5EAK<TUK;$1X
M2S!(0U!T,T$Y.$E#;V954'DV.'@S8E)L3&%X=&5#,%DF(WA!.U)34%)I5#EO
M.&<R0E=B*U0O3%DP1%-V<7)30U<T:V-Y>G5T95!)9T-I,3-O04U65'I&57!T
M57-8.'$R-C,O2#9K8DM0-GAZ,EAH-E$F(WA!.S5%;C596F-Y<GIU2W<X<G=4
M=&1A8DIR06EB:VMC.$U+;%-#<$Q"6$E5.49B-W-#;VHY25=F<4$O<%!Z1#9J
M0F%F1'51*S9F=&9T8W0F(WA!.W9N:7)7:U=0:VQT6FIE.6MV>DU:1D-I.6I7
M3TEY16YI<FQ2+VLW03!'2W95.%99,S4O,6DY,')Y.# Q:R]P>GEY<D-*939H
M9U-3=G8F(WA!.SA.35991&]U;V$U36]U8FY66DHT6DMX*V<R<$<R:U9I=T%B
M-&TO:&EQ3FAA,7-6;F4R:V5/4S9L5S1M:VDQ96IY4$QX:D13:%9(3G8F(WA!
M.V<S249E4%A#4U-Q2#!46'9-96YE86)/>75.4V$K:FUM:6AL2')M-&E+>7-"
M5E=*3S0U9'-#=EAC5E-V>E)Q8RMM84)E,S!&4%=H5#DF(WA!.S)4=4%Z14M$
M5#(U5GA6-5EV;68Q3%=.-3E7,5IB-7!"-C1J;4%I.5!B:U551F%(<E%D3592
M37--1VM1:3=K=CE9<S4Y4V(Q6G!50T$F(WA!.U1Y2W%G:W5S;TQ%3%%C:B]!
M1UDR5E9.3#AX4WHV;&$V9F)8.3=C5S)P2SER95)8>FE5<5I363%D1S=B14Y4
M-DXX5E=A9#51.#!A4G$F(WA!.TUR;7=L=4%Q36M4,CAW:E9M2DA&*U%93E%5
M-54R3F%9<6HU3E Q5S1T<GDP:C!F54%#4W)O8C%745-L07=,<%)1,653:VY'
M;%10.$$F(WA!.TQJ>6YQ=6LS1GIF86EG9V%735)243%$35%71$9J>$IP.6M9
M<7DW5"]!4&5V52\X06U*6"]!2VAO8THV2VIC0W-8.#=A2$QR4WA78THF(WA!
M.T,S070U-4EE6%%S:VM'>%!U2VI$,%9G,6@U83@Y,E5S84IB,U-14G96:VAM
M5E)1;C1Q1EA(6#)W2VY5.&5S6%5K;'9*;S)O.'I%;VTF(WA!.U$V:#9G-$9M
M2T9G=RM,8TYS5&I3<$I,-5$X.39R9%)P97AZ36]*0WDS37=D63%06&-S>#=D
M:&ER,"LY=F)4>3EO06UN3%!$6E)*1TLF(WA!.U4U3U%!:6=$>$IX5FEL:"MA
M3C-Q1C1L;EHV3#9L>$M323!.,'%6;TLY5VI!-F4K2W%%,VU0>D9A=UA.,7$K
M:GEU63583'E16#AK2THF(WA!.T=Z:U))630R66-K5VEK:6QA5G Q>5A&,TMJ
M9DMN;6)3=&5U,W,R:74W4S5#;#0Q*W4S36ES0C$S-4I1:C593TI5<S%,.'=D
M270W>5,F(WA!.T<P=$QU-FAJ67%*,G8W:5!L5&%O5W(W94=017$Y9&,X=S-2
M,'96=$\P971J1$\W>65V971C1U0Y,4I&>&HU=79P34]:,TM.='1H-'0F(WA!
M.VQ21CDK858S63-,5S$S;VAH;E-N2D1C0V]Q2SEO.&ER3&9,=FU#>C$S5&QV
M8EE&2TU5;&EB<6IG06MB9&5T46-65%!&5T1A-W!U='DF(WA!.RM1-%9T3#)T
M=$AB=WEZ5S=1:5-74TE2:7-9;#5,44MA3EAI5RM':$IR:S5%5U995#57,4Q5
M5G9O;U)D>4I:47!)5VA.,#%S9T161E$F(WA!.W=/,4A93E%$9DE+;CAI8U=#
M>#-#:3-":%!O+W!:1RM*1S9K9W(S0T1P='@R.&-667!Q3C-R9#-E9E5,:39L
M=3-36&A&15I7;5AN6&DF(WA!.T]"2DYE=$LT<3DW>%9"-G9P3FQQ,6A*63-I
M1F]:2V1$4FQ),T1+97A'2W-A,"\X04Q3=S K-BMS,FPY3VMO5FQ6;5=*<4)X
M>%!6970F(WA!.T1I<5!F>65(56AR,#!*-69$8C)Y:TAT47)'1'1I<4<P5#AU
M3D4P=2MJ=E)*3&-Z46YL14I#;U97-TY244MK9'0X5EI8:7%$,6I4260F(WA!
M.U4P>31S2FE6:G5%-&QH,4(V9R]14FER>BMX+TQ,5W)+-6MK+S-(,S!:6&=I
M6$IM04970C5C55AR445F83<T<6IV.$5A,#)Z,D=J<V\F(WA!.T%51&QC,5=G
M-F<X978K=%A&5FYL<CAT<G94.59I,4A5<FU%<&).-G%2449I0W<S0DQ/16]"
M,7A61V%V-34X<#9P639H<$4P5C%D5V0F(WA!.WI"3&(S5%%)4E='5E1'-59G
M>7-U>F9A,G=G,&)6:EAL2"]"96<S,7IQ9'9O9#5A4S(X;#!T<E!',# S2S)U
M5VED,FXU<W%H:DMU>3 F(WA!.TE886AY>655:U5T33=S=%DX=F5C3DMV.5!5
M=3EV8U%V8EAL=3E9-5!3;55O,4-P-V=N8TAB2W=A3G%X+WEZ*U50:TA39&5B
M53E0,"LF(WA!.U-#*S!U9%5T2G9R3GDY1BMQ<4M-2&M92&%::&PP.#!I2U!6
M1DTO>6A+5V%J95<Q;G%-3C%D4T-+,VAT3&QP2D<V065P0F@V2WAR55 F(WA!
M.WI).&]8=&YC,DYX1F135S%Z1SA%=T-"95-32U9A:$1H:%5(14=L65)O9FPS
M.',Y13%R.4Q1*U@W-C)T3$U7-S9694=A-6M*8T]:5S4F(WA!.TQ)+T)11S0X
M84TS259R,7!L,',X:4MT1E!1-U0X>G9,1GAC2D-7;6<U;FE*2E5!444O>D5-
M,4UO4VIF4%=N6&5O*U=B<4,P47EZ9W F(WA!.TES83E70TU#479I85EQ.'DP
M3U=Y,"M*:F-'.&=V6%E,245H:FMJ.4U%34$P8W$W;FMO4%@Y5S9Q36XQ1%(W
M;4]:6DQM.#E/-$Y*12LF(WA!.W!7-4E#54-L4T=(1%E5*T@K1TM58BM7*VHS
M9BM)-4PV2TM29$]H5U)5;FQ5<GDU8DE"-'148S!X47AE5%)P-T16>&%A;D9,
M1DA(2E,F(WA!.UHQ4716069T24YG=U!B1E=26$=O*U1P=6%*6E1197-X+V5#
M,V]6<G98:7,S1#9&5'!I<50V-DY&;FEI9E19<&MN4VE32UE$16I,46LF(WA!
M.W8O95,O1GDX2T1&6&]8-5DV5F4R3VA3=F1X=$,Q>DU:230S1D<T0E%!4T0P
M<E1&5U@T<6LP5W!W85@U5&=V<&=7:G1R5TQM:3E3=U4F(WA!.TQX*V9,8DI3
M-7%W;3,Q9&(V15AC96TK6&M->%EI0S0T3$U+16HT=5A%5G%0<')K5E=$5E%5
M16<P=GDW=TIJ1F%2,4)L-"]S,35F1'HF(WA!.RM),&]+2'=X5D5195HW9E(W
M-D-E-3 S4T)#-V-$3G!P:F%6465R1&I88C).359E;%EQ-T9867$W1EA9<3=&
M6%EQ-T9867%H9%AI;&TF(WA!.S!Q.6AI2$M74T-623%(57-Y14%F9FER>$QY
M>7%J5F5-9T%)52]B;BMQ9T971$AL2C(R0BMN1E=286AE,V]T-W-J54)+2&AK
M84U$55@F(WA!.V-C1%)L;VQ35TLX5TA&=79,<'1S<%$S-5HR3W)Z83%*8U=.
M,'1R1&)O9G)83T@Q:VQ$9VA9>6531E!I*T]Q;CEM;E$T45(Q43E8=$PF(WA!
M.U57-G96,FQL;&)N3DLQ05=B:49R4E%&1D951%EF:FE3<79G5FAV-6LR.#@K
M;D995DQS;'9+-TMU-31R4&)L:E0R-C5,;W)Z,U))3DDF(WA!.W99,G1:<F%L
M,$9:=G)J,U%G:4%Q079*5U)X,5!J:U9:1F-185<Y=$9B6&)L-TY34"ML<W-Y
M4DM">$)%87AN6D)S2TPW67%X3%56<W F(WA!.TQM2S$P-D-R4B]U;6Q2;FM-
M.&AB6FQ59U5R,$%!>%8W8V(V,#!N4TQE5%5:5G0Q:FIJ:EET=5,T541I;U=P
M63=D<U91=S@T-D%::$$F(WA!.TI::D]72T-,-G)C."M1-G)X.4]T4FEQ5S9*
M-3,P45=K9W56=4Q2>F184E)*64I'3&\P-W5R<C91:T9'5F=A13$X44UL2E4S
M<U!.3V<F(WA!.S,Y=VQV8EA66G!!5$=K:V-K4F5M-30K;W%C=F]Y2W%.-35Y
M,$<Q;F5&<%I*6&EB,#5F4FEK:U982#=*6E9+,3EQ-'%L96\K94Y,3G@F(WA!
M.W!C:TYT951X9E=M.5-224=#;W9O4TM74%!H>6]85V]3<#,V6DED5E)Q*V9V
M3'I%04Y0=C,K<GDY4$A:8VEQ9#)6.6%8,7%L,6%3<DXF(WA!.V)Y0W%33#!0
M8D969D973RMB4$MD<G$K;%A%8TMS=#)$-CEU;VQL4U Q:%AC>'%Y>#%A<$)Q
M3SE4:W5)<3@V,$129&(P+U4R:W5R2%4F(WA!.TE9,5(P3%<Y<UI766YA9S5Q
M>64Y8VEQ94]T=UHP;E<Q,5%34CAE1DY+:592>%DY;$Y0,C)05$973THU4#$K
M*S%:-%EB2S531U-5,'4F(WA!.V)M2F]2>$HK,C-)064Y0FER,C=&6%EQ-T98
M67$W1EA9<3=&6%EQ-T954&8V:%IA9F%V9%AK<7<R.&8R;F(S-D%!8FLK=WA6
M:49Z-74F(WA!.R],865:-5HW94<T;%EN;$LY<'E:=F5R2E@W.%93<41Z:C5,
M;6E7439&6E<O2W!%33AA:5926&)N-E5%,&1F.$%68VHS>5)!-S%:5C4F(WA!
M.V8Q94LY=$<O46QT66DS:E!X>%)44U)C4V9&4'$V,')4=W=B2VUV<F$S+WEY
M5S,O4U1*+S%1>#)69S)R9FQV-6PQ1%9R;2]8>DIQ,7 F(WA!.TAC,T-807-R
M9E9:631)=V=)355A:3,K1TYQ-VI,:&QI0E9$-4EP3F@U;C!04C=M,7-T5#%A
M,6PQ1WIH1FHV1%AK1%A$3S1J2F%D-3(F(WA!.W1X-FMN0E-&-#%/-49E,&5!
M;FM%<&IB<F\Q-4)(9#(R:$IC,CEW;VMI=4DQ<UA34EA&439U2E-'0D<Y4FM$
M1VQ7<G!&<VPU3&-T;V,F(WA!.U114WAX>'@R-G!B*V]J25=,3W=:;%0T=610
M:%DO6CDY;6=Q;&4V=C5A,$M30U<Y<TE.3&QM2E<R96%45#=D;EE5<45,5$M3
M9"LR15$F(WA!.W9K<D5F>D$Q-U1034=M5TXW;SDS1F57;'1,3$9D;4-73UE2
M>75&2T)Z17IR=49A;2M#54-/87%0;"LX,4MF4W!P8FTY3'4X:$9T-FTF(WA!
M.W!.8DUR,35&*T<O3#1J=5-2,5!Z1592>#EE1UHU8F$V*T9W=TPO<&1!1$IS
M1G%W2V-G:$YA57(T-'%X>E1B:EA,,WI,<#ET3&-Y,VLF(WA!.S%R9$M):5AA
M44M&8V,R56YO=$5Q9F)&5DQ22DQY>#%S,G-O;&IU0S5I64-C,GA346UH6G!+
M1VTQ975+<W%K5#%"2D5B<C9W1TE65D\F(WA!.W-Q>$Q%9%5Q9W(R2#)C5E-V
M5TY8=DQE=TUI6%4S,7!:-E%Z3'%"=4-I<T-W059F.&HT4V9W>%9L=C56=UA%
M6&QL,FQ6;%=7-60T95@F(WA!.V1/0TQ593-*5&ER36-69&ER<U9D:7)S5F1I
M<G-69&ER<U9D:7)S5F1I<G-69&ER0V9Z5TUQ-E!:4TMV3T]/-E9N56EQ16A'
M<'E'2W,F(WA!.U)G=F1%=3=%>7IX-EI9,T1S=TU8;UA"4$5$:4161V-!,65T
M04(P,T]+<3!L-S5:9V=K16DR1G=E36DR-71R95EU2%EF1'DY4U--1E(F(WA!
M.WEP56<Y35944#AS3&PW<EAR,EI916=H5S%34&A#=D9!47EH4S-I>&]453EC
M5F5G-G)Q54=M861C6#@Y5$9B<'E91'%E=T$K6DY-5EDF(WA!.TY$-3@X-%AK
M6G5B3%-);G13<E-+,5=A:4M30U=B:W9D5#)'2W!&96%2<70U-6=K,4LK.' V
M9F183GEK9'@V171V13E:8F1I9W5+:RLF(WA!.V]8;U988SE+8EI937-G2T)7
M:S-S+TXR=C9(67AW=F].=EIA5%EC25!Q.$DY15)G9T954E-X;V5,5G!X>4)*
M2G-Q>7)89DXY;'!M9U$F(WA!.S9T1W!N1C)&*W%2,7!Y3')Y2$QR4V<V+V1G
M5F@K<C,P;FU#,W1P3E<P-WDY<4M1:C%B6DQU5TXR:DQ52F]*2"M&=&QR:V]Z
M235&85$F(WA!.S)H1V91=G)L=%IW95@T8D\O;$0K:D4P16-+9TIY15I%2D)9
M2S-,9#8W;6QE;4=C>DQM<4Q8>E):,FQZ8F9P4%-T2FMT2C):2&5Z16(F(WA!
M.W9(>&)I4WDO1CAX-&IO8V=R4#A!.4)A2"]W0E<V,B\U17@O,'A65W1T3C V
M,6-V8E=S341K54Q2>'%H23A+<4)I<E9X<&UM,TUN<5@F(WA!.TYP1$Y*4VY/
M4TY(3E!M46-6578P1F]F+T%&8G)B+VM42"]41EAF;TQ20G5.4'1V*U)-9CE-
M5E)W055"5D9!3F=",$%X5C)+=7A6,DLF(WA!.W5X5C)+=7A6,DMU>%8R2W5X
M5C)+=7A6,DMU>%93=7)3,G4W9#=E-6E784-1565.=T-P*V<T<6MP.&AE55-A
M+V\U3B\X=50O;7)&5W8F(WA!.SA!*U5F*W)C=B]">68X,5EQ;75M-E1P=6U1
M;4=W=#!T-'EA<T5'-5!I4V1Z.4]+;UAZ5'!S*W!E6#<R>70V979+;C=S2%E&
M;%E-0E@F(WA!.S,T,'A6-51X,6$S=%)9>6589WIX2U5->E%Z97!7<$I9<VA5
M369I,G)8-W-65DI,=2]E5FY0;&5%0G8R0D)C:%%A,7%/3&HW=6U+<D@F(WA!
M.U1Z1&5Q8DLP,%@V=71X4EI&4T(V1VY1.'!E6$=N:EA&5UDK82]+=6]Y*U1.
M4'-R6F98=71/0T=33DYY=T-&6#1E3D-E;4MS33AU,F0F(WA!.S%9,U0S3GIB
M,SA-<4QX:$U&=4I.,G%'3$Q+<%5G1'0K3TMP>&18:DUS>7)B-FI01DMO4U-%
M5U56<UA7=38X-#%B:CA*,TE'+U1&5T\F(WA!.S)0;&)79%$Q0F)E,W-:-&]P
M2#)E5D=#>&]4,61I04YH.2M+=F1S5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER
M<U9F+R]:/"]X;7!'26UG.FEM86=E/@H@(" @(" @(" @(" @(" \+W)D9CIL
M:3X*(" @(" @(" @(" @/"]R9&8Z06QT/@H@(" @(" @(" \+WAM<#I4:'5M
M8FYA:6QS/@H@(" @(" @(" \<&1F.E!R;V1U8V5R/D%D;V)E(%!$1B!L:6)R
M87)Y(#$U+C P/"]P9&8Z4')O9'5C97(^"B @(" @(" @(#QD8SIF;W)M870^
M87!P;&EC871I;VXO<&]S='-C<FEP=#PO9&,Z9F]R;6%T/@H@(" @(" @(" \
M9&,Z=&ET;&4^"B @(" @(" @(" @(#QR9&8Z06QT/@H@(" @(" @(" @(" @
M(" \<F1F.FQI('AM;#IL86YG/2)X+61E9F%U;'0B/F<S.64Y.3PO<F1F.FQI
M/@H@(" @(" @(" @(" \+W)D9CI!;'0^"B @(" @(" @(#PO9&,Z=&ET;&4^
M"B @(" @(" @(#QD8SID97-C<FEP=&EO;CX*(" @(" @(" @(" @/')D9CI!
M;'0^"B @(" @(" @(" @(" @(#QR9&8Z;&D@>&UL.FQA;F<](G@M<F5P86ER
M(CY&:6QE($YA;64Z(" @(" @(" @(" @(" @9S,Y93DY+F%I)B-X03M5<V5R
M;F%M93H@(" @(" @(" @(" @(#@S,C,T-"8C>$$[3&]C86P@5&EM93H@(" @
M(" @(" @(" @,3 M1&5C+3(P,C4@,3<Z,3(Z,C,F(WA!.T535"!4:6UE.B @
M(" @(" @(" @(" @,3 M1&5C+3(P,C4@,#<Z-#(Z,C,F(WA!.U-C<FEP="!6
M97)S:6]N.B @(" @(" @(#(N-B8C>$$[26QL=7-T<F%T;W(@5F5R<VEO;CH@
M(" @,C4N,"XP)B-X03M'<F%P:&EC('1Y<&4Z(" @(" @(" @($9L;W<@0VAA
M<G0F(WA!.R8C>$$[XH"B(#(Q($--64L@8FQA8VL@;V)J96-T<R!C:&%N9V5D
M('1O(&=R87ES8V%L92XF(WA!.R8C>$$[XH"B(#$S,C$@0TU92R!B;&%C:R!C
M:&%R86-T97)S(&-H86YG960@=&\@9W)A>7-C86QE+B8C>$$[)B-X03M4:&4@
M9F]L;&]W:6YG(&9O;G1S(&%R92!P<F5S96YT(&EN('1H92!D;V-U;65N=#HF
M(WA!.R @(" @(" @("!!<FEA;$U4)B-X03L@(" @(" @(" @07)I86PM271A
M;&EC350F(WA!.R @(" @(" @("!!<FEA;"U";VQD350F(WA!.R8C>$$[5&AE
M(&9O;&QO=VEN9R!C;VQO<G,@87)E('!R97-E;G0@:6X@=&AE(&1O8W5M96YT
M.B8C>$$[(" @(" @(" @($)L86-K)B-X03L@(" @(" @(" @0TU92R8C>$$[
M)B-X03LM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM
M+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM
M+2TM+2TM+2TF(WA!.T9I;&4@3F%M93H@(" @(" @(" @(" @("!G,SEE.3DN
M86DF(WA!.U5S97)N86UE.B @(" @(" @(" @(" @.#,R,S0T)B-X03M,;V-A
M;"!4:6UE.B @(" @(" @(" @(" Q,"U$96,M,C R-2 Q-SHQ-SHS."8C>$$[
M15-4(%1I;64Z(" @(" @(" @(" @(" Q,"U$96,M,C R-2 P-SHT-SHS."8C
M>$$[4V-R:7!T(%9E<G-I;VXZ(" @(" @(" @,BXV)B-X03M);&QU<W1R871O
M<B!697)S:6]N.B @(" R-2XP+C F(WA!.T=R87!H:6,@='EP93H@(" @(" @
M(" @1FQO=R!#:&%R="8C>$$[)B-X03LJ*BI4:&4@<')E9FQI9VAT(&-H96-K
M(&ES(&-O;7!L971E+B!0;&5A<V4@96YS=7)E(&UA;G5A;"!C:&5C:W,@87)E
M(&-O;7!L971E9"!P97(@<')O8V5S<RXJ*BHF(WA!.R8C>$$[5&AE(&9O;&QO
M=VEN9R!F;VYT<R!A<F4@<')E<V5N="!I;B!T:&4@9&]C=6UE;G0Z)B-X03L@
M(" @(" @(" @07)I86Q-5"8C>$$[(" @(" @(" @($%R:6%L+4ET86QI8TU4
M)B-X03L@(" @(" @(" @07)I86PM0F]L9$U4)B-X03LF(WA!.U1H92!F;VQL
M;W=I;F<@8V]L;W)S(&%R92!P<F5S96YT(&EN('1H92!D;V-U;65N=#HF(WA!
M.R @(" @(" @("!";&%C:R8C>$$[(" @(" @(" @($--64LF(WA!.R8C>$$[
M+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM
M+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM+2TM
M+2TM)B-X03L\+W)D9CIL:3X*(" @(" @(" @(" @/"]R9&8Z06QT/@H@(" @
M(" @(" \+V1C.F1E<V-R:7!T:6]N/@H@(" @(" @(" \9&,Z8W)E871O<CX*
M(" @(" @(" @(" @/')D9CI397$^"B @(" @(" @(" @(" @(#QR9&8Z;&D^
M.#,R,S0S/"]R9&8Z;&D^"B @(" @(" @(" @(#PO<F1F.E-E<3X*(" @(" @
M(" @/"]D8SIC<F5A=&]R/@H@(" @(" @(" \>&UP5%!G.DY086=E<SXQ/"]X
M;7!44&<Z3E!A9V5S/@H@(" @(" @(" \>&UP5%!G.DAA<U9I<VEB;&54<F%N
M<W!A<F5N8WD^1F%L<V4\+WAM<%109SI(87-6:7-I8FQE5')A;G-P87)E;F-Y
M/@H@(" @(" @(" \>&UP5%!G.DAA<U9I<VEB;&5/=F5R<')I;G0^1F%L<V4\
M+WAM<%109SI(87-6:7-I8FQE3W9E<G!R:6YT/@H@(" @(" @(" \>&UP5%!G
M.DUA>%!A9V53:7IE(')D9CIP87)S951Y<&4](E)E<V]U<F-E(CX*(" @(" @
M(" @(" @/'-T1&EM.G<^-C$R+C P,# P,#PO<W1$:6TZ=SX*(" @(" @(" @
M(" @/'-T1&EM.F@^-SDR+C P,# P,#PO<W1$:6TZ:#X*(" @(" @(" @(" @
M/'-T1&EM.G5N:70^4&EX96QS/"]S=$1I;3IU;FET/@H@(" @(" @(" \+WAM
M<%109SI-87A086=E4VEZ93X*(" @(" @(" @/'AM<%109SI&;VYT<SX*(" @
M(" @(" @(" @/')D9CI"86<^"B @(" @(" @(" @(" @(#QR9&8Z;&D@<F1F
M.G!A<G-E5'EP93TB4F5S;W5R8V4B/@H@(" @(" @(" @(" @(" @(" \<W1&
M;G0Z9F]N=$YA;64^07)I86Q-5#PO<W1&;G0Z9F]N=$YA;64^"B @(" @(" @
M(" @(" @(" @(#QS=$9N=#IF;VYT1F%M:6QY/D%R:6%L($U4/"]S=$9N=#IF
M;VYT1F%M:6QY/@H@(" @(" @(" @(" @(" @(" \<W1&;G0Z9F]N=$9A8V4^
M4F5G=6QA<CPO<W1&;G0Z9F]N=$9A8V4^"B @(" @(" @(" @(" @(" @(#QS
M=$9N=#IF;VYT5'EP93Y4>7!E(#$\+W-T1FYT.F9O;G14>7!E/@H@(" @(" @
M(" @(" @(" @(" \<W1&;G0Z=F5R<VEO;E-T<FEN9SXP,#$N,# S/"]S=$9N
M=#IV97)S:6]N4W1R:6YG/@H@(" @(" @(" @(" @(" @(" \<W1&;G0Z8V]M
M<&]S:71E/D9A;'-E/"]S=$9N=#IC;VUP;W-I=&4^"B @(" @(" @(" @(" @
M(" @(#QS=$9N=#IF;VYT1FEL94YA;64^87)I7U]?7U\N<&9B.R!A<FE?7U]?
M7RY01DT\+W-T1FYT.F9O;G1&:6QE3F%M93X*(" @(" @(" @(" @(" @/"]R
M9&8Z;&D^"B @(" @(" @(" @(" @(#QR9&8Z;&D@<F1F.G!A<G-E5'EP93TB
M4F5S;W5R8V4B/@H@(" @(" @(" @(" @(" @(" \<W1&;G0Z9F]N=$YA;64^
M07)I86PM271A;&EC350\+W-T1FYT.F9O;G1.86UE/@H@(" @(" @(" @(" @
M(" @(" \<W1&;G0Z9F]N=$9A;6EL>3Y!<FEA;#PO<W1&;G0Z9F]N=$9A;6EL
M>3X*(" @(" @(" @(" @(" @(" @/'-T1FYT.F9O;G1&86-E/DET86QI8SPO
M<W1&;G0Z9F]N=$9A8V4^"B @(" @(" @(" @(" @(" @(#QS=$9N=#IF;VYT
M5'EP93Y/<&5N(%1Y<&4\+W-T1FYT.F9O;G14>7!E/@H@(" @(" @(" @(" @
M(" @(" \<W1&;G0Z=F5R<VEO;E-T<FEN9SY697)S:6]N(#<N,# \+W-T1FYT
M.G9E<G-I;VY3=')I;F<^"B @(" @(" @(" @(" @(" @(#QS=$9N=#IC;VUP
M;W-I=&4^1F%L<V4\+W-T1FYT.F-O;7!O<VET93X*(" @(" @(" @(" @(" @
M(" @/'-T1FYT.F9O;G1&:6QE3F%M93YA<FEA;&DN='1F/"]S=$9N=#IF;VYT
M1FEL94YA;64^"B @(" @(" @(" @(" @(#PO<F1F.FQI/@H@(" @(" @(" @
M(" @(" \<F1F.FQI(')D9CIP87)S951Y<&4](E)E<V]U<F-E(CX*(" @(" @
M(" @(" @(" @(" @/'-T1FYT.F9O;G1.86UE/D%R:6%L+4)O;&1-5#PO<W1&
M;G0Z9F]N=$YA;64^"B @(" @(" @(" @(" @(" @(#QS=$9N=#IF;VYT1F%M
M:6QY/D%R:6%L/"]S=$9N=#IF;VYT1F%M:6QY/@H@(" @(" @(" @(" @(" @
M(" \<W1&;G0Z9F]N=$9A8V4^0F]L9#PO<W1&;G0Z9F]N=$9A8V4^"B @(" @
M(" @(" @(" @(" @(#QS=$9N=#IF;VYT5'EP93Y/<&5N(%1Y<&4\+W-T1FYT
M.F9O;G14>7!E/@H@(" @(" @(" @(" @(" @(" \<W1&;G0Z=F5R<VEO;E-T
M<FEN9SY697)S:6]N(#<N,# \+W-T1FYT.G9E<G-I;VY3=')I;F<^"B @(" @
M(" @(" @(" @(" @(#QS=$9N=#IC;VUP;W-I=&4^1F%L<V4\+W-T1FYT.F-O
M;7!O<VET93X*(" @(" @(" @(" @(" @(" @/'-T1FYT.F9O;G1&:6QE3F%M
M93YA<FEA;&)D7S N='1F/"]S=$9N=#IF;VYT1FEL94YA;64^"B @(" @(" @
M(" @(" @(#PO<F1F.FQI/@H@(" @(" @(" @(" \+W)D9CI"86<^"B @(" @
M(" @(#PO>&UP5%!G.D9O;G1S/@H@(" @(" @(" \>&UP5%!G.E!L871E3F%M
M97,^"B @(" @(" @(" @(#QR9&8Z4V5Q/@H@(" @(" @(" @(" @(" \<F1F
M.FQI/D-Y86X\+W)D9CIL:3X*(" @(" @(" @(" @(" @/')D9CIL:3Y-86=E
M;G1A/"]R9&8Z;&D^"B @(" @(" @(" @(" @(#QR9&8Z;&D^665L;&]W/"]R
M9&8Z;&D^"B @(" @(" @(" @(" @(#QR9&8Z;&D^0FQA8VL\+W)D9CIL:3X*
M(" @(" @(" @(" @/"]R9&8Z4V5Q/@H@(" @(" @(" \+WAM<%109SI0;&%T
M94YA;65S/@H@(" @(" @(" \>&UP5%!G.E-W871C:$=R;W5P<SX*(" @(" @
M(" @(" @/')D9CI397$^"B @(" @(" @(" @(" @(#QR9&8Z;&D@<F1F.G!A
M<G-E5'EP93TB4F5S;W5R8V4B/@H@(" @(" @(" @(" @(" @(" \>&UP1SIG
M<F]U<$YA;64^1&5F875L="!3=V%T8V@@1W)O=7 \+WAM<$<Z9W)O=7!.86UE
M/@H@(" @(" @(" @(" @(" @(" \>&UP1SIG<F]U<%1Y<&4^,#PO>&UP1SIG
M<F]U<%1Y<&4^"B @(" @(" @(" @(" @(" @(#QX;7!'.D-O;&]R86YT<SX*
M(" @(" @(" @(" @(" @(" @(" @/')D9CI397$^"B @(" @(" @(" @(" @
M(" @(" @(" @(#QR9&8Z;&D@<F1F.G!A<G-E5'EP93TB4F5S;W5R8V4B/@H@
M(" @(" @(" @(" @(" @(" @(" @(" @(" \>&UP1SIS=V%T8VA.86UE/D,]
M,3 P($T].38@63TR.2!+/3,Y(#$\+WAM<$<Z<W=A=&-H3F%M93X*(" @(" @
M(" @(" @(" @(" @(" @(" @(" @/'AM<$<Z;6]D93Y#35E+/"]X;7!'.FUO
M9&4^"B @(" @(" @(" @(" @(" @(" @(" @(" @(#QX;7!'.G1Y<&4^4%)/
M0T534SPO>&UP1SIT>7!E/@H@(" @(" @(" @(" @(" @(" @(" @(" @(" \
M>&UP1SIC>6%N/C$P,"XP,# P,# \+WAM<$<Z8WEA;CX*(" @(" @(" @(" @
M(" @(" @(" @(" @(" @/'AM<$<Z;6%G96YT83XY-BXT-S V,# \+WAM<$<Z
M;6%G96YT83X*(" @(" @(" @(" @(" @(" @(" @(" @(" @/'AM<$<Z>65L
M;&]W/C(X+C8R-S4P,#PO>&UP1SIY96QL;W<^"B @(" @(" @(" @(" @(" @
M(" @(" @(" @(#QX;7!'.F)L86-K/C,X+C@R,S4P,#PO>&UP1SIB;&%C:SX*
M(" @(" @(" @(" @(" @(" @(" @(" @/"]R9&8Z;&D^"B @(" @(" @(" @
M(" @(" @(" @(" @(#QR9&8Z;&D@<F1F.G!A<G-E5'EP93TB4F5S;W5R8V4B
M/@H@(" @(" @(" @(" @(" @(" @(" @(" @(" \>&UP1SIS=V%T8VA.86UE
M/D,]-#4@33TS-R!9/3,W($L],B Q/"]X;7!'.G-W871C:$YA;64^"B @(" @
M(" @(" @(" @(" @(" @(" @(" @(#QX;7!'.FUO9&4^0TU92SPO>&UP1SIM
M;V1E/@H@(" @(" @(" @(" @(" @(" @(" @(" @(" \>&UP1SIT>7!E/E!2
M3T-%4U,\+WAM<$<Z='EP93X*(" @(" @(" @(" @(" @(" @(" @(" @(" @
M/'AM<$<Z8WEA;CXT-"XW,#4Y,# \+WAM<$<Z8WEA;CX*(" @(" @(" @(" @
M(" @(" @(" @(" @(" @/'AM<$<Z;6%G96YT83XS-BXX-C(W,# \+WAM<$<Z
M;6%G96YT83X*(" @(" @(" @(" @(" @(" @(" @(" @(" @/'AM<$<Z>65L
M;&]W/C,W+C(U-#DP,#PO>&UP1SIY96QL;W<^"B @(" @(" @(" @(" @(" @
M(" @(" @(" @(#QX;7!'.F)L86-K/C$N.38P.# P/"]X;7!'.F)L86-K/@H@
M(" @(" @(" @(" @(" @(" @(" @(" \+W)D9CIL:3X*(" @(" @(" @(" @
M(" @(" @(" @/"]R9&8Z4V5Q/@H@(" @(" @(" @(" @(" @(" \+WAM<$<Z
M0V]L;W)A;G1S/@H@(" @(" @(" @(" @(" \+W)D9CIL:3X*(" @(" @(" @
M(" @/"]R9&8Z4V5Q/@H@(" @(" @(" \+WAM<%109SI3=V%T8VA'<F]U<',^
M"B @(" @(" @(#QI;&QU<W1R871O<CI#<F5A=&]R4W5B5&]O;#Y!9&]B92!)
M;&QU<W1R871O<CPO:6QL=7-T<F%T;W(Z0W)E871O<E-U8E1O;VP^"B @(" @
M(" @(#QX;7!-33I$;V-U;65N=$E$/GAM<"YD:60Z9F)B9C4Q,V,M,#!F-2TX
M931C+3ED86(M-C@Y-#<W8S-F83,U/"]X;7!-33I$;V-U;65N=$E$/@H@(" @
M(" @(" \>&UP34TZ26YS=&%N8V5)1#YX;7 N:6ED.F9B8F8U,3-C+3 P9C4M
M.&4T8RTY9&%B+38X.30W-V,S9F$S-3PO>&UP34TZ26YS=&%N8V5)1#X*(" @
M(" @(" @/'AM<$U-.D]R:6=I;F%L1&]C=6UE;G1)1#YX;7 N9&ED.C1C-F,W
M860U+60Q9#<M93 T-2TY8C!B+3%B,#8U-V,W-S<R9#PO>&UP34TZ3W)I9VEN
M86Q$;V-U;65N=$E$/@H@(" @(" @(" \>&UP34TZ4F5N9&ET:6]N0VQA<W,^
M9&5F875L=#PO>&UP34TZ4F5N9&ET:6]N0VQA<W,^"B @(" @(" @(#QX;7!-
M33I$97)I=F5D1G)O;2!R9&8Z<&%R<V54>7!E/2)297-O=7)C92(^"B @(" @
M(" @(" @(#QS=%)E9CII;G-T86YC94E$/GAM<"YI:60Z,V)F93=C9&,M,#<Q
M."TX9C0S+3DS8S$M9&0T,S$P.34P.31C/"]S=%)E9CII;G-T86YC94E$/@H@
M(" @(" @(" @(" \<W12968Z9&]C=6UE;G1)1#YX;7 N9&ED.C-B9F4W8V1C
M+3 W,3@M.&8T,RTY,V,Q+61D-#,Q,#DU,#DT8SPO<W12968Z9&]C=6UE;G1)
M1#X*(" @(" @(" @(" @/'-T4F5F.F]R:6=I;F%L1&]C=6UE;G1)1#YX;7 N
M9&ED.C1C-F,W860U+60Q9#<M93 T-2TY8C!B+3%B,#8U-V,W-S<R9#PO<W12
M968Z;W)I9VEN86Q$;V-U;65N=$E$/@H@(" @(" @(" @(" \<W12968Z<F5N
M9&ET:6]N0VQA<W,^9&5F875L=#PO<W12968Z<F5N9&ET:6]N0VQA<W,^"B @
M(" @(" @(#PO>&UP34TZ1&5R:79E9$9R;VT^"B @(" @(" @(#QX;7!-33I(
M:7-T;W)Y/@H@(" @(" @(" @(" \<F1F.E-E<3X*(" @(" @(" @(" @(" @
M/')D9CIL:2!R9&8Z<&%R<V54>7!E/2)297-O=7)C92(^"B @(" @(" @(" @
M(" @(" @(#QS=$5V=#IA8W1I;VX^<V%V960\+W-T179T.F%C=&EO;CX*(" @
M(" @(" @(" @(" @(" @/'-T179T.FEN<W1A;F-E240^>&UP+FEI9#HT8S9C
M-V%D-2UD,60W+64P-#4M.6(P8BTQ8C V-3=C-S<W,F0\+W-T179T.FEN<W1A
M;F-E240^"B @(" @(" @(" @(" @(" @(#QS=$5V=#IW:&5N/C(P,C4M,3(M
M,3!4,34Z,C8Z,#4K,#4Z,S \+W-T179T.G=H96X^"B @(" @(" @(" @(" @
M(" @(#QS=$5V=#IS;V9T=V%R94%G96YT/D%D;V)E($EL;'5S=')A=&]R(#(X
M+C4@*%=I;F1O=W,I/"]S=$5V=#IS;V9T=V%R94%G96YT/@H@(" @(" @(" @
M(" @(" @(" \<W1%=G0Z8VAA;F=E9#XO/"]S=$5V=#IC:&%N9V5D/@H@(" @
M(" @(" @(" @(" \+W)D9CIL:3X*(" @(" @(" @(" @(" @/')D9CIL:2!R
M9&8Z<&%R<V54>7!E/2)297-O=7)C92(^"B @(" @(" @(" @(" @(" @(#QS
M=$5V=#IA8W1I;VX^<V%V960\+W-T179T.F%C=&EO;CX*(" @(" @(" @(" @
M(" @(" @/'-T179T.FEN<W1A;F-E240^>&UP+FEI9#IF8F)F-3$S8RTP,&8U
M+3AE-&,M.61A8BTV.#DT-S=C,V9A,S4\+W-T179T.FEN<W1A;F-E240^"B @
M(" @(" @(" @(" @(" @(#QS=$5V=#IW:&5N/C(P,C4M,3(M,3!4,3<Z,3<Z
M-#4K,#4Z,S \+W-T179T.G=H96X^"B @(" @(" @(" @(" @(" @(#QS=$5V
M=#IS;V9T=V%R94%G96YT/D%D;V)E($EL;'5S=')A=&]R(#(U+C @*%=I;F1O
M=W,I/"]S=$5V=#IS;V9T=V%R94%G96YT/@H@(" @(" @(" @(" @(" @(" \
M<W1%=G0Z8VAA;F=E9#XO/"]S=$5V=#IC:&%N9V5D/@H@(" @(" @(" @(" @
M(" \+W)D9CIL:3X*(" @(" @(" @(" @/"]R9&8Z4V5Q/@H@(" @(" @(" \
M+WAM<$U-.DAI<W1O<GD^"B @(" @(#PO<F1F.D1E<V-R:7!T:6]N/@H@(" \
M+W)D9CI21$8^"CPO>#IX;7!M971A/@H@(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @
M"CP_>'!A8VME="!E;F0](G<B/S[_VP!#  8$!08%! 8&!08'!P8("A *"@D)
M"A0.#PP0%Q08&!<4%A8:'24?&ALC'!86("P@(R8G*2HI&1\M,"TH,"4H*2C_
MVP!# 0<'!PH("A,*"A,H&A8:*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H
M*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"C_P  1" .8!SP# 2(  A$! Q$!_\0
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M([;7_"_WTVK^!F%H(JO\,=3^1VVO^%_OIX8ZG\CMM?\ "_WTVK^!F%H(JO\
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MU?'I:E#XLD3QQ )'$M\GJ4S16MIK.8$&[E.UUK:'3KFG:]&*^TND2][:A".
M<?O9&_S7 9\^>K"G*JO6HFZ;_"%V<GI9B?JVFV(K@'*41C>83Y1@<>P!6HN]
M2(SF.Z0(B+-1$1 1$0$1$!$1 1$0$1$&+J>GU-5H34M2K16JDS=V2*5H<UP\
MH*J,MN=QK5X2V6>WW/;LPC+9"7OTJ1QX$'F8R?\ [GX5S+!US2JNMZ/<TS4(
MQ+4MQ.BD:>PCF/*.8/:NZ7QRGHF&9&]LD;7QN#F. <US3D$'K"[*M^X/?M/V
M4N:'J4ADN;/WI=,<\\W,8?$/J.!Y&JR%+5X9F%@1$7((B("(B B(@(B("(B
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MK:=!?T^7IJD[=^*3=+0YO:,@'"^>=J]!V3UONF:;KPTZ1FEX=)J-? :9Y1\
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MH;#62&V^XZON>9H(&.W)0:I%(6;.3P:=J=C4(BPUX@YFY(UV'[[1AV"<'!/
MX7A/HEJ>]-%1IRM$4<;WM?(TEH<T>,3RP>?D'-!I46QGT:_!;@K.KETTXS$&
M$/#QY""05VM:%J-6 S2P PAP9OLD:\;QY#Q2>/D0:Q%L[NAZA3KOFL0 1QD"
M3=D:XQD\MX DM]*UB#VJV9JDS9JTKXI6\GL=@A67L;MT+<C*6LEK)G>+'8Y!
MQ['=A\O)5<B#Z057_P (7[4M'_ONI_J<MYW-MH7:G1=1MOWK59HW7'F]G+UC
MEZEH_P"$+]J6C_WW4_U.6FC[<)/1:"(BS41$00KNU?<JVG_L;OTA;K8;[2MG
M_P"[Z_ZMJTO=J^Y5M/\ V-WZ0MUL-]I6S_\ =]?]6U:?#^J=V[1%K]?U2+1]
M*GNS<=P>*W\)QY!9JU^UFT];0*X#@)KCQF.$'Z3V!5%K6MW]9G,EZ=SVYRV,
M<&-\P6+J-V?4+LMJV\OFE.2?V#R+K2K27+<-:$9EF>&-\Y.$'@BD-D:!2M/I
MOKW+71NW)++9@SB.!+6X/#SE8+M)?8U*S7TMXMP1>,)LAC=WM). .SSH-8BV
M;]"U%MV*KWL733,+XPQS7![0"200<'D5W][VI=/)"8&AT;0Y[C*P-:#RR[.
M>'+.4&I1;S5M"FKW-.IUH)76YZS9'QGB=_+@?1@+$L:+>KR5V/A!Z=_1QN9(
MU[7.Y8W@2,H-<BVEO0=2J5I)YZV['%CI,/:7,SRWF@Y'I7;9>E7OZJ(;@>Z$
M122$,=ND[K2>?H0:E%)*=32-79;BI5[=2Q# ^=KGS"1AW1D@^*,>=8MW1GNL
M4(=/C?))/398>"1@$YR<G@!PZT&E1;B+1+4%^C';K&6*Q)NM$,K2)./$!P)
M*Z5]"OVV&:O7 @+W,#WR-: 0>1)(X\1YT&J1>UNM-3LR5[,;HYHSAS7<P5NW
M:+!+K&D0P%XJW88Y7$G):./2<?)NN01Y%)O<6H_::""-T@TR6$6@XGQA%N%Q
MR>W((6#)I,]E]1FGTINDEKF;=+P[? <1O#R<,8Y\$&G7():002".1"SK^D7:
M+(GV(1N2G=8YCVO!/9EI/'R+9U=F[,=?4)=1A+!!6=(W=D:2UX(P' $D<">!
MP@VFRFW5J@]E?57/LU.72'B^/T]85K5IXK,$<U>1LD3QO-<TY!"^<U..YIM"
MZE>;IEI_^RV#B/)^ _V'].$%L(B("(B B(@J_P#@T_<ATK^ML?KG*T%5_P#!
MI^Y#I7];8_7.5H+35]Y;U2.@B(LU$1$!:_7-7JZ+1=:NOPWDU@^$\]@6;/*R
M"&265P;'&TN<X\@!S*HO:K7)==U62P\D0-\6&,_>M]IYE![[2;5ZAK<CFOD,
M%3J@C.!C^<>M1]%EZ=)3CF<=0KRSQ[N V.3<(/;G!08B*4:U5TBJVM#6HVS8
MMUHYHW&R,-+QP!&[QQZ%KI=G-5BFCADJ$2R;V&[[<C=YD\> \IX(-0BV5G1;
M]>2LV2%I[X=N1.9(U[7.SC&\"1GBNUO0=2J5I)YZV['%CI 'M+F9X#>:#D>E
M!JT6T.@ZB*IL&N-P1]*6[[=\,Y[Q9G>QZ%F;,:15OQ32ZA(^.-[VUH'-.,S.
MSC/D&./G01]%MM,TULLFJ1VVO;)4K22  XP]I X^LKWU+9VS6?IT==O3RVX0
M_=:]I.\<Y P>0 ''ES0:)%L+^D7:,#9[$;>A<[<$D<C9&[W82TG!67L_3I34
M]3M7XI9658V/:R.3<))<&\\'M0:1%M+T^E25RVC1LPS$C#Y+ >,>;="[V-F]
M5KQS/FJ[O0@N>W?:7!HYNW<YQY4&H1;*GH>H7*[9J\&8WDAF\]K3(1SW03EW
MH2CH>H7HGRUJY,;'%CG.<UH:X=1R1VH-:BVM39_4[4,4L%;>$O&,%[0YX[0T
MG)'E6):H6:L4<D\6ZR1SF-.0<EIPX<.PH,52/9K:[4-$>UF^;%/KA>>0_FGJ
M_0M'<JS4[#H++-R5H!+<@XR,CEYUX(/H+1=5JZQ19:I2;S#P(/-I[".U9RHS
M8_7I-"U5DN2:LA#9F=K>WSA7C&]LD;7QN#F. <TCD0>M!V1$0$1$!5?W&OMC
M[H_]_P OZ%:"J_N-?;'W1_[_ )?T+2GLV_.Z+01$6:B(H;W1]HG:71;2J/W;
M=EO%PYL9RSYSR]:#%VQVY;1?)2T@MDLMX/F/%K#V#M/T*LKENQ=G=-;FDFE=
MS<]V2O!$!$1 1$0$69IL5&5[QJ%F6NT#Q3'%TF3ZQA;76M&T_3WNKQ7[,]PL
M8Z.,5L!V\ 0,[W8>Q!'D60:-L/C::LX=+\ =&<O\W:DM.S%.V"6M,R9W*-S"
M''S!!CHO>6I8AA9+-7FCB?\ !>YA#7>8]:Y?3M1UVSR5IFP.Y2%A#3Z>2#'1
M;O0M!=JM.S,)A$YAW(6%N>FDW7.W1V<&_2%AZ?0[[J:A-OEIJQMD#0W.]EX;
MCZ4& BV.IZ/:T^>O#+&]SYHVO: P\20#NCM(R,K%LU+%5P;:@EA<1D"1A:3Z
MT'@B(@(B(/2":2"5LL$CXY&G(<PX(]*L/9#;UQ>RIKC@0>#+/+']+V^OM5<(
M@^D 00"""#R(15YW,-HG3-]R+C\O8W>KN)XD#FWT<QY,JPT!$1!".[=]RC:?
M^R'](6_V+^T[0O[!!^K:M!W;ON4;3_V0_I"W^Q?VG:%_8(/U;5I\/ZIW;A$1
M9J(B\;UJ*E3FLV';L432]Q\@08&T6NU-"I&>T[+W<(XFGQGGR>3RJG]H=IM0
MUN5W?$ICKY\6!APT>?M/E*Q]H=7GUK4Y;=@D G$;,\&-Z@%K$!$1 1$0$6VT
M.MIEN2."]/;CL2RB-G11M<W!P 220>:]=7TZC#8FJ:8^]9N0R.8]KH6[N&YW
MB,$GJ[.2#2(LT:3J#K1K"C9-@-WC'T3MX#MQCDNCM/N,L/@=5G$[!O.C,9W@
M.W'8@Q465;T^Y3>QEJK/"Z3X DC+2[S9YKFYIUVDUKKE2>!KO@F2,M!]:#$1
M;V'0>DV=??Z8]\X=*V#'.)K@TN]9]0*QZ6DNMZ6RQ"7NG?;;6;&&YYM)S]"#
M5(MG=T2[7U:?3XZ\\TT;CC=B.7-!QO =A6%:JSU)C%:ADAE''=D:6GU%!XHB
M("(B"0;-[5ZAHDC6LD,]3/&"0Y&/YIZE;^A:Q4UJBVS2?D<GL/PF'L*H!;C9
M77)M"U1EAA)A=ALT8^^;[1U(+X1=()F6((YH7!\<C0YKAU@\BNZ B(@(B((9
MW9ON5[4?V%ZVVP7VC;._W=6_5-6I[LWW*]J/["];;8+[1MG?[NK?JFK3X?U3
MNWJ(BS41$0$11'NB;0NTC3A6JOW;ED$!PYL9UGS]0]/8@P]L]N&Z>]]+22V2
MT.#YCQ;&>P=I^@*L+ENQ=G=-;FDFE=S<]V2O$\3Q7" B(@(B("*4:*W1KE2Z
MZ72I-^I6Z8N%IWV0@@<L<,YRL)FE2:OOV=*ILK5&$1NZ6P" [&?A.QS0:1%M
MJFS]^U'$]@@:9N,3))V,=)QQXH)R5UJ:%>LP/G:R..%DAB>^:5L8:\8X')\J
M#5HMH-"O]^6*SXV1O@ =*Z21K6-!Y'>)QQR,+RL:5;@O05)(P99]WHMQP<UX
M<< @C@0@P$4BVHTJG4ABGTPN= R1]68DY^RLZ_,1Q]"R&;.PV9G-A>V(,TV.
MSX\K6YD<T'[[[W//LX=J"*HMM4T"]:BCD8(&"4D1"6=C#+@X\4$\>*UDT3X9
MI(I6EDC'%KFGF".!"#HB(@+TAED@E;)#(^.1IR',."/2O-$%D;'[>.,C*>N.
M!!X,L\L?TO;Z^U60"" 0<@KYO5H=S#:%UF(Z3;?O21MWH'$\2T<V^CJ\GF06
M B(@(B("(B"K^XU]LG=(_OZ3]"M!5?W&OMD[I']_2?H5H+35]I($1%FHB(@(
MB("(B B(@(B(&..>M,(B H7W-MI[NT=C:ME]D#!I>M6-/@Z)I&8V$8+LDY=Q
MY\%-%5_<._WSNA_^:+GZ6KNL1PS*+0PF!O9P,\LHBX5PUK6YW0!DY.!S7*(@
M(B("(B B(@(B("(B B(@(B(*-VXU ZCM-<?G,<3NA9Y WA^G)]*T*[RO,DKW
MN^$XEQ]*Z("(B"1Z3:JZ7L]/)-%%:FO2=$83(6EL;>))W3D9=CSX6<RY3U*M
MI%EC(:DNGVV0F(RDYB+@0[+CD@'/FRH<B"3:QM+J#-6OMJ3P,CZ:1K)(H8PX
MMWC@AX&>77E>VSVG,BT]NI,EI3:@]QZ&.>PQHAP?AN!/$YY#EUJ)H@ENEW+&
ME-VADFM0NU!T3"V02-DWG%X)+3R) .>')8FI2PZWI(ONDC9JE8".PUS@#.SD
MUX[7#D?6HZN0,G YH-]LA;[REU29LXAE%&01NWL'>RW&/*LS1=?O6HM5AU+4
M))(G490ULLG NP,8SU\U%7-+7$.!!',%<()9/7]U)=(N5+=:.""O%%*7S-88
M',Y\"<^48YY6>W6*(M0W-]H@]V9)L??!A: 'XY^507=.[O8.Z#C.."X02J&D
M_3M,UTV;E5W3Q-$09.UYF^R-.\ #V=O'CYUE:M;@,>T'1V(R9*E1K-UX\8C<
MW@.W''*A:()CI-VM%0T>.6PR-SH;<.^7?Q+G\&N/8%UJ4Y-.V;N]+<@#C;KD
M&&02B/!=XQW<CT<^"C.GW):%MEBN6](W(PYN001@@CK!!61?U:6W5%9L->M7
M#^D,<#-T.=C&3DDE!(]8;#)1U*:\RC%,1F*S2L#_ &IV\.<8<>?$D\,*%HB
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M]"M!5?W&OMC[H_\ ?\OZ%I3V;?G=%H(B+-14)M1J)U37;EHG+'/+8_(P<!]
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MO+H^H5'W=0O3V#&623@-:W==G ;O''#/'S<$'OK&GUX;^MLTZ1K(X:C'/C=
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M&\^23I-P YPS@,>?B5CZU?\ =.^ZR8^CRQC-W>S\%H;S]"#8?_V+_P#[+_\
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M<1GTVW"WG)$]@]((7SPOI!43MCIATK:&W!NXB<[I(_Z+N(]7$>A!I41$!$1
M1$0%GLTJY)/6@CB+[%AN^R)OP@T\B>SAQX]7%>FS-2.]KM."?C"7[SQVM:"X
MCU!;6E<ELZ9M+J+?][DZ-N1S9&YYW@/)P:/,@UMK0;<%:6=LE6PR'C**\[9#
M'Y2!U>5:E9^FPWC7N6*1<V)D?1S.#@,M<<;OESV*7:74KQWX=-LC3 V*,]\P
M"$RR'#27$R%O ^8X""!(I,',T_1M);7J5Y+]M[Y ^:,/(:7;K1@\#G=//]JS
M;-6O6U?6+4<=&&M%-WO')8:7,9)CQMV, Y/ \^ R@ABR:M.:S!9FB Z.NP/D
M)., D ?25+[-&FZ>M:FB@F?#I[[LK8H^B9-XV&9;PQS&> R%X5I)M3V=,;*<
M#;-ZXRN.A8(@]C1O8X<.!(X^Q!#ED3U)8:U>P\#HIPXL(/8<$'R^T*7/;3L:
M?JYSIKZ]>#+&5H' Q/+@&_9"T%W'RG*TMX;NR.EA_P )UB=S/Z.&#](0:-$1
M 1$0$1$!7ML7"8-EM,8X8)A#ORN/[52NCT)-3U.M3BSO3/#<]@ZSZ!Q7T%#&
MV&)D48PQC0UH[ $'9$1!".[=]RC:?^R'](6_V+^T[0O[!!^K:M!W;ON4;3_V
M0_I"W^Q?VG:%_8(/U;5I\/ZIW;A$19J*JNZY$1K5.7[UU?='G#C[0K54*[JN
MFFUHD5R-N7U'Y=_0=P/TX05(B(@(B("]X;=F"-T<-B:.-WPFL>0#YP%X(@Y:
M"YP#022< #K6QAT6[->EJ1L8981O2DO ;%V[SCP&.7G63LJUK+-NZX FE6?.
MP'EO\&M/H+@?0O:1[V;$M=$238NN%AW6=UH+0?62@P-0T>S2KML%T$]8NW.E
MKRB1H=V''(K6K;Z70U&Q58RNUQJVYVPEF^&B1PX_1V]2W[VT[&GZN<Z:^O7@
M)8RM X&)^0&_9"T%W'RG*"$HIG6;%7U+0=-@I5'32Q1&R^6(/)#SO$<>QIY\
MUX5XX*E>6RP:?69:G>:[[$9F<8P2,-9ND 9ZSQ01-9(IS'3W7<#H!*(<YXEQ
M&>7F"EFK5*FFVM7NQUH'R5N@A9&6?8Q*]N7.W>P8.!RR4E:;U/0X75*[-\2W
MK+,]%&6@X#C@>*-UO4/-S00I9%VI+3D8R8#+XVR-(.06N&0?I4GU(5I]F[UE
MSJ$I9-'' ZK6,6X3DEN2 7#='7E:S:<;K-'8?XQM"/>])<1]!"#1HB("(B B
M(@L/N/Q$VM3EZFL8WUDG]BLU1/N9Z::.SC9I&XDM.Z7C^#R;^C/I4L0$1$!$
M1!#.[-]RO:C^PO6VV"^T;9W^[JWZIJU/=F^Y7M1_87K;;!?:-L[_ '=6_5-6
MGP_JG=O41%FHB(@X>W>8YIZQA?.<K#'(]CAAS26GSA?1JI';W33INTMH!N(I
MST\9\CN?TY01U$1 1$0$1$&9I])ULS/+Q'! S?ED(R&CD!Y23@ ++JZ.SO&.
MWJ5QE*"7/1 L+WR <R&CJ\I7K8_V?9"FUG W+,CY#VB,-#1_S$K)VJK6+-G3
MY:L,DM62I$R L:7#@W!;PZ\YX(-5JVF.H.@<R5EBO89OPS1@X>,X/ \00>86
M"]CF.W7M<UW81A2G3=-ETB:W8FM;KZD#.D$,?221.D.-T9( <.L]6>U;62+O
MF79F*RZU*Z2=]@OM\9!$W!QYCNDH("6/#2XM=N@XSCAE QY87AKBP<SC@I;#
MJ=K4M.UZ:>4]!*6110DXC:]\F00.0(#3Q6XT\NKZG-5?/>DATZ!XFC;$(ZQ#
M6'((R=[)ZSQ/-!736N<"6M) &3@<EF:GISZ,\,)=TDDD+)2UHXMWAG=\^"%(
MX1?@9H%/1ND8RU&)I'QCA(\N(<''K#0 ,'@LBS.6W=9U1D\T,4EKO.,U8@Z4
M!HX8=D;HP!RYH(CIM)UW4H*9=T3Y7A@+AR)Y9].%C/:6/<UPPYIP1V%3C4(G
MR;4[.0.,QGCCCEEDG/V3&\7^,?(T*&ZA*V>_9E9\&25SAYB24&.B(@(B("(M
MAH&GOU36*M-@/V1X#CV-YD^K*"[]FXC#L_IL;AAS:\8/GW0MBN&M#6AK1@ 8
M 7* B(@(B(*O[C7VR=TC^_I/T*T%5_<:^V3ND?W])^A6@M-7VD@1$6:H;W5;
M)AV;9$T_Q\[6GS $_I 50JT^Z]_V70_KC_I*JQ 1$0>TEF:6M#!)(70P[W1M
MZF[QR?7A>\>JWHVU0RS(WO7/0D'BS/, ]GD6$B#.OZK=OM8VW8<]C#EK0 UH
M/;@8&?*O2SKFI6:SJ\]N1\3@ [EEP'(./,^E:U;#9^O%;URA7L-WH99V,>W)
M&03QY(-CJ&TMIT=6*A8FABCJQPN! !#@W#BT\P#Y,+2/LS/K1UW2$PQN+F,Z
M@3C)^@*3T(M)U+6_<MNCNAWWNC$T5A[G,QGQL'(QP6IK:#9GC9)TU6*.1Q;$
M9I@SI<''BCLSUH,274K<HG$D[G"<,$F<>,&_!]2XFU&W/WQTL[G=\.:Z7/WQ
M;R/H695V?O6)+C"(H>]'B.<S2!@83GF3YOT+-M;-/$&DMJ302V;8<"ULP()#
MG8QCJPWGVH-;:US4K5=T$]M[XW !W  O Y;QYGTK#J69J=AD]65T4S.3FG!"
MSKNB6JE-]ESJ\D<;@R412M>8G'D' <EZ>]Z]T6?L'3]'TO>W2CI=W&<[O/EQ
MQS08>H:G<U#<%N=TC69W6X#6MSSP!P7.F:I=TPR&A8="9  [=QQQRYK)BT&Y
M)IT5W,#8I@3$'2@.D(<6D-;S)R/T)=T*W4KSRN?6D$! F9%*'NB)./& \O!!
MUL:_J=F1CY[DCWL:YC20. <,.'+K"Q>_[/257],[>J@"$_@8.1CTK?ZYLS(S
M4;#=/$#8VQMD9 9@9'-W 7$-)SSRL"+1Y[L6F1TZK&S6(I'AW2YZ7=<[)P?@
MXQC'6@UHN6 RPT2NW;!!E'X>#D9]/%9#-8OLGLS-LOZ2RW=F) .^/*%S>TBQ
M3K"P7P30;_1E\$@>&N[#CD5KD&RAUW4H:HKQ7)&Q-:6-Y9:WL#N8'D!7G0U:
M]0C?'4L.C8X[Q;@$9[1GD?*.*P40>UNU-<L.GM2.EF=C>>[F<# ^@+Q1$!>U
M.=U6W!.PX?$]KQYP<KQ1!]'L<'-#AR(R%RO&C_N4']6W]"]D!$1 1$01S;G9
M_P!W=*Q"!WY!E\1_"[6^G].%2LL;XI'1R-+'M):YKA@@CJ7T:HIM?L=7UO>L
MUBVO?Q\+'BR?TO:@II;2SJKW#39:SY(;=6'H2]IQR<[!!\QQZ%YZMHU_29C'
M?K/BXX#\9:[S'D5KT&RL:[JMB)T4^HVWQN&'-,IP1Y5AFS,X0@RO(A&(^/P.
M.>'9QXKQ1!EMU*ZP6@VU,!:_CAO'[)Y^WF5S%J=Z*VZU';F;8>,.D#SEP[#V
M\EAH@RYM2NSR2OFM3/?*SHWESR=YN<X/DX<EXOGE?#'"^1SHH\EC">#<\\>=
M>2(/6K8FJSMFK2OBE;R>QV"/2O?4-3NZBYIO6II]WX.^XD#S!8:(,Y^K:@^F
M*CKDYK8W>C+SC'9YO(O.*_;BE@ECLRMD@&[$X..6#CP'8.)]:Q409D^J7IWM
M?-;G>YKQ("YY.'#D1Y5Y=]3XG'32?9_XWQOA\<\>WCQ7@B#)9>M,# RQ*T,8
MZ-N''Q6G.0/(<E>EG5+UJ2&2S;GE?"<QESR=T]H\JPD09M75;]5\SJUN>-TQ
MS(6O(WCVGR^59%35Y(>FL2R2S7NCZ&&1YST;3D$YYYQP'G)6J1 7+6ES@UH)
M<3@ <RLW2]*NZI-T5"M),[K('!OG/(*TMC]BH=(<VW?+;%X<6X^!'YNT^5![
M=S_9TZ+IQFLMQ=L %X_ ;U-]O_PHS_"%^U+1_P"^ZG^IRM!5?_"%^U+1_P"^
MZG^IRTT?;A)Z+01$6:B(B"%=VK[E6T_]C=^D+=;#?:5L_P#W?7_5M6E[M7W*
MMI_[&[](6ZV&^TK9_P#N^O\ JVK3X?U3NW:Q-6H0ZGIT].R,QRMQGK!ZB/*#
MQ66BS5\_:UI=C2-0EJ6VX>P\'=3V]1'D6 KZVCT&GKM3H;;=V1O&.5OPF'V>
M15)M!LIJ>C/<Z2$S5ARGB&6X\O9Z4&@1$0$1$&?3NLBTN_3D:XB?HW,(ZG-/
M7Y,%WT+II^IW=.+C1M30;WP@QQ /G"PT09/?]OOT7#9F-H'/2[YWL^=>L^KZ
MA.09KL[\.:\9>>#AR([,9*P40>XM3AT[A-('3@B4[W%X)R<]O%9,6LZE#!'#
M%>L,BC(+&MD(#<'(PM>B#,JZG>JMF;6MSQ"8Y>&/(WCV^=(=3O0VWVHK<S;#
MQAT@<<N'8>WDL-$&VIZS,VRVS=EFM309?7$CMYK9#CQCGLQG': M6][I'N>]
MQ<]QR2>9*ZH@(B("(O6M7FLS-BK1/EE=R:QI<3Z @\E8?<QV<<^9NKW&8C9_
MN[2/A'\+S#J_^%VV4V >7LM:Z U@XMK Y)_I']@5E,:UC&L8T-:T8  P $'*
M(B B(@(B(*O_ (-/W(=*_K;'ZYRM!5?_  :?N0Z5_6V/USE:"TU?>6]4CH(B
M+-1$1!P]K7L<UX#FN&"#UA4EMKL])H6I.W&DTIB70O[/YI\H5W+&U*A6U*G)
M5N1"2%XX@]7E'84'SPBE^TFPU_37OEH-=<J<QNCQVCRCK\X^A1%P+20X$$<P
M4'"(B L_2[K*L=Z*5KG1V:YB\7J=D.:?6 L!$&7I^HW-.D<^C9E@<X8)8[&?
M/VKK-?MS7!:ELS/L@@B4O.\,<L%8R(,ZUJVH6VO;9N3RL?C>:YY(.#D</.O(
MW;1LOL&Q+T[P0Z3>.\01@\?-P6,B#-KZK?KU>]H+D\<&<[C7D#RI!JM^O8FG
M@N3LFF_C'M><O\_:L)$&8S4[S+;;+;<XL-;N"3?.]N]F>Q9$&JR2V62:I+/;
MBC<96Q/=D.?CAG/(<!G'4%JT0>UNQ+;M2V+#B^65Q<X]I*\41 1$0$7+6ES@
MUH+G'@ !DE3'9G82[J#V3:DUU.ISPX8D>/(.KSE!A[#;.OUO4A),TBA 097=
M3CU-'GZ_(KJ      '(!8^GTJ^GU(ZU.)L4+!@-'Z?*5D("(B B(@*K^XU]L
M?='_ +_E_0K057]QK[8^Z/\ W_+^A:4]FWYW1:"(BS447V^V=]V].$M9H[^K
M@F/^>.MOL_\ E2A$'SB]KF/<U[2US3@@C!!757'M?L97UDNM5"VO>ZSCQ9/Z
M7E\JJS5M'OZ3,8[]:2+C@.(RUWF/(H->B(@(B(-CL]<90UFI9FST3'X?CGND
M8/T$KRHW[&F6G2T9MTX+"=W(>WL(/ CR%8:(-CJ&L7+T3(I7LC@8[>;%#&V-
M@=VX:!Q\JR'[2:DXR.Z6)KY6&.5[86!T@(P=XXR>"TR(,PZE9,]28R OJ-:V
M'Q1AH:<CAU\>U>U;6;D#;#0Z.1D[^E>V:)L@W_P@"#@\5K40;0Z]J)O,N/GW
MIVQ=#ES&D.9^"1C!''K7$NNZA(^J[I@SO5Y?"(V-8(R<9P ,=2UB(-N_6[=J
M.2K++#!5L%O2B.!K6\#G>(:,Y7AK-YMR>-D#2RI78(H&GGNCK/E)))\ZUZ("
M(B B(@(LO3M.MZC,(J->2=_8P9 \YY#TJS-D-A8]/>RWJQ9-9;Q9$.+&'M/:
M?H0<]S;9MVG5SJ-UF[:F;B-A'%C/+Y3^A3A$0$1$$([MWW*-I_[(?TA;_8O[
M3M"_L$'ZMJT'=N^Y1M/_ &0_I"W^Q?VG:%_8(/U;5I\/ZIW;A$19J+I8ACL0
M20S-#XI&EKFGD0>:[H@HG:O09M!U-\+P75WDNAD_";V><=:TJ^@]8TNKJ])]
M6]&'QGB#UM/:#U%5-M'L5J.E/?)78ZW4YA\;<N:/YS?V\D$51<D8/%<("(B#
M9:+;CK"_'.XMCLU7Q9QG#N#F_2T#TKIINJV].;(RN]ABEQOQ2,#V.QRRT@A8
M"(-C/K5^:W7LNGW9*YS"&-#6Q^9H& N]G7;T]:>N70QP3XZ2.*%C X@YSP'/
M/6M6B#/]UKGNEW_TH[ZW=W?W1P&[N\!C')=ZNM7:U6.O&^,LB),3GQ-<Z,GB
M=UQ&1Z%K40;1FNWVV;<YDCD=:(,S9(FN8\CD2TC'!<'7=0=>BMNGWIXX^A!+
M&XW./BD8P1Q*UB(-RS5WW.CK:E*UFG-DZ8PPQ-8,@'@W=' G.,^7*P-3NR:A
M>FM3 !TAX-')H'  >0# 6*B B(@(BY:"X@-!)/(!!PI#L7L])KNI-#VD4HB'
M3/[?YH\I6=LUL-?U-[9;S74ZG,EXP]P\@ZO.?I5KZ90K:9395I1".%G(#F3V
MGM*#)8QK&-8P!K6C  Y +E$0$1$!$1!#.[-]RO:C^PO6VV"^T;9W^[JWZIJU
M/=F^Y7M1_87K;;!?:-L[_=U;]4U:?#^J=V]1$6:B(B HUMUL_P"[FEY@ []@
MRZ+^=VM]/Z5)40?.,C'1R.9(TM>TX<TC!![%U5R;7[&U]:WK-4MKW\<78\63
M^EY?*JKU;1[^DS&._6DBX\'8RUWF/(H->B(@(B(,Z2Z)-&AI/:=^&9TC'=6Z
MX $>MH/K76KJ=ZI$Z*K<L0QNYMCD+0?0"L-$&15NV:DSI:MB:&5PP7QO+2?2
M%RZ];<]KG6IRYH< 3(<@.^%U]>3GM6,B#T$L@A,0D>(BX.+,G=)'7CMXK)DU
M2_*QK)+UIS6M+ #*X@ C!'/EA82(,N#4;L$ A@N6(X@[?#&2$ 'MP#S7%6_<
MJ=)WK:GAZ3X?1R%N]Y\+%1!LJ^J/AJV/&DDMRL$ E>[/1Q=8;Y3R\@SVK6HB
M B(@(BRM/T^WJ,XAHUY)Y.QC<X\YZO2@Q5;?<WV<=IE5VH7&;MN=N&-(XQL]
MI7GLAL+'I[V7-6+)K3>+(AQ9&>T]I^A3E 1$0$1$!$1!5_<:^V3ND?W])^A6
M@JO[C7VR=TC^_I/T*T%IJ^TD"(BS5 NZ]_V70_KC_I56*UNZY&3HM.0<FV,'
MTM/L54H"(B B(@+9;-S1U]?TZ:=X9$R=CG./( 'FM:B#>:GM'JD\MJ(:C.:[
MWN #78!;D]G5A;#3W48]-H/@DTT/ )LOM@OD8[>/P6'@1C&,!1=L,CH7S-8X
MQ,(#G=0)Y#Z"N_>ECO3OKH9.]M_<Z7=.[O=F>U!)M;OU98]I1%8C?WQ:A?%@
M_#:-XDCS9"]M%M5&/V8LR7(&-JE\<S'.PYF7/<#CLP1Q\JB<52Q*R-\<,CV2
M2=$PAN0Y_P""/+Q'!>3V.C>YCP6O:<$'F"@VVEV8HM#UB.21HEEZ$L:3Q?A^
M2I//JT$FJ.U2"UI4,!'2!SH ZRUV[\'=YDYX9SC'6H B#?7[<,E#9]K;&ZZ!
MK^D+.+HB92<X[<<5L]8GJ3T;S[\VF69B,UK%4;LTCMX<7M'#EG.0H@]CF.W7
MM+78!P1CGQ"[00R3R='"QSWX)W6C)P!D_0"@E3M0JG;SOOOAG>VYCI,\/XC=
M_3P61L_-!8DT.!L[6NCI6FRD<3'GI#D^@Y4,BC=+*R.,;SWD-:.TE2#1J3(]
M4EBJ79!9#GP;S(=]K6[NZY[B> 9Q/'F!Q\X><HATS0+E0VZ]F>W+&6M@=O!C
M69.\3VG.,<UH%E25<:?%:8XEI>Z)X_!<.(]!!^@K%0$1$!$1 1%RT%Q ',\$
M'T31_P!RK_U;?T+V7G79T=>)AYM:!Z@O1 1$0$1$!$1!UDC9*PLD8U[#S:X9
M!6EM;)Z%9<72:;""?Q>6?Z2%O$01OWC[/?)_^=)]9/>/L]\G_P"=)]921$$;
M]X^SWR?_ )TGUD]X^SWR?_G2?64D1!&_>/L]\G_YTGUD]X^SWR?_ )TGUE)$
M01OWC[/?)_\ G2?63WC[/?)_^=)]921$$;]X^SWR?_G2?63WC[/?)_\ G2?6
M4D1!&_>/L]\G_P"=)]9/>/L]\G_YTGUE)$01OWC[/?)_^=)]9/>/L]\G_P"=
M)]921$$;]X^SWR?_ )TGUE[UMD="KN!CTV$D?C"7_P"HE;U$'2&*.&,1PQLC
M8.36C 'H7=$0%5_\(7[4M'_ONI_J<K057_PA?M2T?^^ZG^IRTT?;A)Z+01$6
M:B(B"%=VK[E6T_\ 8W?I"W6PWVE;/_W?7_5M6E[M7W*MI_[&[](6ZV&^TK9_
M^[Z_ZMJT^']4[MVB(LU$1$&JO;.Z1=<76=/KN>>;@W=)](P5@'8?9[Y/_P Z
M3ZRDB((W[Q]GOD__ #I/K)[Q]GOD_P#SI/K*2(@C?O'V>^3_ /.D^LGO'V>^
M3_\ .D^LI(B"-^\?9[Y/_P Z3ZR>\?9[Y/\ \Z3ZRDB(*?[K^C4-G],V?ETB
M#O>2UK5:I,=]S]Z)^]O-\8G&<#B.*GGO'V>^3_\ .D^LHGW?_P#L;97_ ,QT
MO^M6@M+1^R)]4A&_>/L]\G_YTGUD]X^SWR?_ )TGUE)$6:HW[Q]GOD__ #I/
MK)[Q]GOD_P#SI/K*2(@C?O'V>^3_ /.D^LGO'V>^3_\ .D^LI(B"/1;%Z!$[
M+=.:3_.D>[])6YI4:M)FY3K0P-[(V!N?4LA$!$1 1$0$1$!$1!5_\&G[D.E?
MUMC]<Y6@JO\ X-/W(=*_K;'ZYRM!::OO+>J1T$1%FHB(@(B("P;^CZ=J!)NT
MH)G?A.8-[U\UG(@CCMB-GW')T\>B:0?]2X]X^SWR?_G2?64D1!&_>/L]\G_Y
MTGUD]X^SWR?_ )TGUE)$01OWC[/?)_\ G2?63WC[/?)_^=)]921$$;]X^SWR
M?_G2?63WC[/?)_\ G2?64D1!&_>/L]\G_P"=)]9/>/L]\G_YTGUE)$01OWC[
M/?)_^=)]9/>/L]\G_P"=)]921$$;]X^SWR?_ )TGUD]X^SWR?_G2?64D1!&_
M>/L]\G_YTGUERW8G9]IR-/'IED/_ %*1H@PJ&DZ?I_&E3@A=^$U@SZ^:S41
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MU#SGGZD$R1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!5?\
MPA?M2T?^^ZG^IRM!5?\ PA?M2T?^^ZG^IRTT?;A)Z+01$6:HMJ&W6CT=0M5I
M>_'Q4WMBMW(ZSG5ZSS@[LD@X X(SU#/'"[ZSMKI6E:C8IRLO6)*L;9;;ZM9\
MS*K'#(,A:.&0"<<3CCC"KC;!\^G:)M]IVE:MI;Z5N>8RP3,>+D=B9C<PL9P#
MP\ENZ[JWOOL++N.L;.2[2QUM:TF'I:4$FI1WFO$T#Q7$>_%R$H<&# S\(8SU
M+>-.OY]$RL7:S3J.TNQVH4[%SHM.NUCO68W##8R,[X)X8QQRM7L5M1H\M32=
M(I]_QQFLUE&>Y6=$VXR-H&\PD8/ ;V.!QQ PL?9RK .Y;I^SNLV.AMNT%K+$
M#3F=D?1!CB&<SC..7/@H=4DU'5M1[GU%VJZ1?K02F:-VGA^_)7;7>TRR _Q?
MPFMW>/C/YC&%*US$P+!TS;O1]1NP0U^_&P69705KDE9S:]B09RUDAX$^*<=1
MP<963IFUNG:CJ[M/@;9:XF9L4\D>(IS"[=E#'9X[KC@Y SQQG"JF+OV30]C=
M#T_6-+NZ?!JU9M,P,>VW)'#)D]+&['1[C6NWCUD#EE2O:#9>"KJ=6AI]VZZ?
M4'V>B@+F[E*"5P?;D9AH=DY#6Y)W3(,*SIUCD93W1-3@UC3H[U,2=[2EW1N>
M,;[0X@/'\TXR#U@@K.4$[GFT]K59:=2>M2AJV-,9?JLJAP->/?W!$_).7 8X
MC')PQP4[65J\,X6!$1<@B(@(B((SKVUT>F:E+0J:7J.JV:\ M6FTFL/01DD-
M+MYS<D[KL-;DG!X+=4-3IWM(@U2M.UU&:$6&2\@6$9SY."@TFLZ?LKM_M7/M
M!;BI0WZM6>J^8X$PC:]CV,_"<#CQ1Q\8<%TV:KN@[E-'9BP\0:[=T68PU7\'
MC+3P\FZ7M!6LTC"9>MC5]$VWGT2GK&CZG!3L6&WM)LSXCCLR1M+FD;KRX>*2
MX->!D*0UML=)M[8OV:I3=\7XJ[YYG1X+(MUS6ECC^%XXX=77C@H/0U:CM!%W
M.=,TF=DM^A-'8N0-^'4;%7>QXE'-AWW!N#C)*D,\$5?NP:2V"*.)KM&MO(8T
M-!<9X23PZR>)*LUCI(V6F;95;^LBB*EF*"62Q%7MO+.CG? [=E  .\,$'!(&
M=T^G;[/ZHS6M*BU"")\=>8N,)?SDCR0U_F< '#R$*%;1[,:>-:K:=IQLBWJ;
MYWR-Z9QCJUWN#K+V-^],A+69[9"1CBNW<WVIO:Q?AJV)*;X9*'?1@KQ[AT]X
MDW! _B>.,\P#ECNKE)K$QFHL-$19*(B("(B B(@(B("(B B(@J_^#3]R'2OZ
MVQ^N<K057_P:?N0Z5_6V/USE:"TU?>6]4CH(B+-1$1 1$0$1$!$1 1$0$1$!
M$1 1$0$1$!$1 1$0$1$!$1 1$05%W1-=T[5J(EHZC.S6=-U&../9^8M'?4[)
MAN[\0\9P/![7 XP [J*U?= AVDBO/U/4M"AF?)K-**G,+S<,@98:8XPW=RTO
M=Q<[/,CJ:%=AKPFP)S#'TX&Z)-T;V.S/-:?:[:G0]EM.-O:&]!6B'C,8_B^0
MC\!G-Q\RVIJ=(B$P:MM)I6G:=>?K,\$3Z51MNY7+@\QL.<<.O)! [2JXI[1U
M-ICJ&T#KVE7M8BTZR-(V?AL,F<QI9EQD#3ETC@T @<&CAQ))4QV!UW5MJX[>
MI:EH,>EZ1+@4FV.-B=G4][>31V#CS[.)EL56O$\/B@B8X=;6 %3,4S$QS.JF
MMCH]/K:_L.-'UY^T+W5I89:TLK9!0B,62]C1QBPYK8\/R<'=SP6SU_0:>C33
M4]*9:NQZ?I_?EF&:3?#*T)<^"HSAP:^1N>.26QD$XPK3BK00R2/AACC?(<O<
MUH!<?*>M=FPQLDDD9&QLDF-]P: 78Y9/6DZO/)A$]@=H+NL3ZC6O6*5WO:.O
M*VU3861NZ5A<68WG<6XYYY.;P[9>O&I4KTXC'3KPP1EQ<6Q,#02>9P.M>RSM
M,3/)1$10$1$!$1 1$00C;>5FE;7[+:[=WF:96;:K6)@TN;"96L+'.QR;F,C/
M(%P6/L5J->"?:'7+!FBH:UK$;*1,+_LHZ*.%K\8R&N<PX)P,8/)3]%WQ\L)A
M3VJ78])T/;_9RS',[6-4M6GT*[8G$VFV& ,+"!@@$D'\'=.5(]OZ#Z^R>@5V
ML,DT.I:9&]S6Y)#)V9)\G,K*[I^W.G;'Z';[YN]Z:G-5E=1WH'O:^4-.Z,AI
M;G..!*U_<K[I6D[5Z7I5)VIBUM$ZJV2W%'7> UX'C$D-W0,^7"T_=CCB.1\F
MUV^TW2VUCJ]FDZUJ3>CKUX6S/8VS)OYACD:T@/:)#GQ@0.)[5%J&H:GL[M)!
MH;-0:^5ERM&:AB;O7VS-+[%K.-[@\OY'=&Y@\PK8PF..>M<1?$8DP(B+-1$1
M 1$0$1$!$1 5"[3PB31]<V5T77R.^M0?'%HDE0"XV1\V^XA^]_$9)DWMWX/#
M>5]+C=&]O8&]C&<<5W2_ DPI/;.2.@-L](TW7C5DU%SR[1Y:8=9LS2Q!N:S]
M[BQYP"=UVZ0[DIEKD>FS[ :CL[?FL2V--TV#OME-F_-'AN6/:.3CF,D#R+<=
MT76I]F]B]7UJE%#);I0&2,3-):3D<\$''I6TV>N2:CH.FWIPULMFM%,\,Y N
M:"<>3BNYM/#$BHV0NVNVDB?:UR/:2A4T>Y%:DTNL(F-$K6M#!XSLS. <<9&-
MT<!U]M!DFU[:;8J&MM'#KD.F.DL2-@J"$UXN@<P=\>,[[*2YK=WQ?O\ AV70
MUH:,-  Y\ @:&YW0!DY.!S3=^1A5>O:#2TNW8IZ%5GLC3Z7?UB&25\@$<6\^
MO48"?%:Z0%VZ.J/!X$*1=SK7[>LR:C#9O5=3A@CKR,N5F!K2Z1A<^/@2,MP#
MVX>,]IF08UKG.#0'.YD#B?.N(HHXF[L3&L;G.&C RN9OF,28=D1%FHB(@(B(
M"(B"!:Y>K[.=TH:OK#W5]-N:2VHRR6$L;+'*Y^X2 <$M?D9Y[I7;N=S-T_9Z
MK!J#9JUG6[UVU6A?$[>:V2224!W#Q3N$'CCLYJ=HN^/EA%+:;,VQL7LOL:QD
MPU^EJ%5EJOT3@8&03A[Y2<8W2UF0[.#O#"FNU,!\(6P[XXCN-ENE[FMX FN1
MDK.[IFM6]GM@]:U;3BP6ZD'21E[=YN<@<0MML[;EOZ!IENQCIK%6*5^Z,#><
MP$X])74VY<7J(GMGH5'W2@.G1R1Z[JLY8R1LS]R'['N2V1'G<#VQ9:'8SES1
MGBM?L3K5T;2P:/'/&:T3KE>73&Q-'N?% \,@=D#>\=N#XQ(=O9;C"LS''*8X
MY4X^6),"(BS41$0$1$!$1 1$0$1$!$1!#.[-]RO:C^PO6VV"^T;9W^[JWZIJ
MU/=F^Y7M1_87K;;!?:-L[_=U;]4U:?#^J=V]1$6:B(B B(@(B("(B B(@*M-
MKZV@>^'63M!L;8O3V*T;:]R*I);[Z :1N-PTB%[3PYC/ Y[++1=5MPBG+FJ[
M0Z;H6S^RVH0:[&X:?&=4U2C0FM29QCH8WL:0'X'%YY=62>%@;.ZAIU/2M&I:
M7I>I5:4D;V01OI2,Z!L8Y2!PRPG'#>XN/:I&NLCQ'&Y[@XAH)(:"3Z .)75K
MQ/9,*ET?7W;1[45;^TND;101P6<:9IQTFP(H79W1/,_=P7X.1]ZP'K.2M'+L
MU'1TK4]*CT.\_;(ZG)+I^I-JO<&L=/OLD;8QNL8&D[S=X<=[@2>/AM/W3=E9
M.[#LMJ;-6(H:?7M0VW.KRMZ-[FD-!:6YSGR<%>.B:K4UO2Z^HZ;(^2G8;OQ/
M=&Z/>;VX< <=AQQ6MIMIXG')(YHQMEH5.S?KLHT&-UC5'F&6\QAWH80W$LF>
M0?N?8P[GEXZ@M7L?:U=FU<=%SKHAC?<BLTWP;M>K"QX;5,;MT#BS'(G.79Y<
M+)18Q?EA<"(BX41$0$1$!$1 1$08FK16Y]+MQ:;896NOB<V&9[-\1O(.'$=>
M#QPJOV?V:VFT7;[9V*1^G2T:VG6(Y+$-.8 ATL3GA[R\_97G+LGGAW ]5MHN
MZWFL83"(:!3L6^Z!M'J]ZO*QE9D.G472,+08PT22.;GF'/>!D?@8ZEF;0ZW9
M9LSM'8TFC>?J%&.6.",UW9FE#,M,8QX[<N'$=A[%(T4XN>95!;FQUSP<Z=LW
MH]N"J6-C;:=8C<]MAOPI6NW2#X[L[QSR+AUK V#T;6V[4;9Q[1PT)-.M.A8Y
ML=-\<<_V!C?$WG$%@:"TCCQZQR6]V'VJFVCU3:BK-6C@;I&HNI,<QQ)D ^^/
M85+%W-K5S64PJK5M+?3&HW=GZDM&EIL\=6(P1%TAWY(Q;LM!!+G-B\1IP2-U
M^.&%,=@+-VUHLS[TEB:-MN9E6:RS<DEKAYW'.&!U<C@9 !ZU)$7,WS&# L35
M=.K:I1DJ7(P^)X](/41V%9:+A5);4;)W=#D<\-=/2SXLS1R\CAU'Z%'%](.
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MU?\ -&>U/!WM;_Q-U?\ -&>U6@B;MOR(,*O\&^T\OB6NZ7KKHC\(0Q,B=Z'
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M '5$-<T%VETZT_3=*YQ#)V[N.ADW0[=/;P/T%=F;.3320LK.=(7T>_'>(>'
M^*,=9Q@+D2WPG-^2C\_^ZGA.;\E'Y_\ =5?P4+EC?[WJ6)=PX=N1EVZ?+@<%
MC$$$@C!'4@LGPG-^2C\_^ZGA.;\E'Y_]U5JB"S(^Z;$7?9-+>!VMF!_8MWI>
MW>C7G!DDKZDAZIQ@?E#(]>%3"(/H]CFO8',<'-(R"#D%<JD-EMJ;FA3-:'.F
MI$^/ X\/.WL*N73+]?4Z,5NF\/AD&0>L>0^5!E(B("(B B(@J_N-?;)W2/[^
MD_0K057]QK[9.Z1_?TGZ%:"TU?:2!$19J(B("(B B(@(B("(B B(@(B("(B
MB(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B
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M81<EZ00@B,;H&Z"<X&!R\G4@PD1$!$1 6_V.U^30M3:\N)J2D-F9Y/PAY0M
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MKWOP5*,VT<S*-9YK][="U[,M87#B<?L4<GUZY+6GK-%>&O. )(X86L#L$'/
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M'*@BS)]3O6*S:\]RS) WE&^0EH]&4$@T:X:NREJ:>-PEKO,=.0C'&5N' >8
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MCG>QWPJK&&24 C\(-#?,]<;<[4T-F;-&A1;IS-=MQ&.L;4C88H(0>+Y'G&&
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M4-.U(:C6KPQ1PB9CWXDC,8 (:WF[.,C':L;6=1@NZ-9,3PU\VJ26!%GB&%O
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M%QP 2<<4L0OKSR0RMW9(W%CAV$'!4FU^".2IHLD/027++WXE@@Z(/;O -\7
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ML;N'8SP/BA!FP:13U8Z.^I$ZF+<[X)6!Y>!N@'>!/'D5WU#2*AT^[(VO!2?
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M(@(B("(B B(@(B("(B B(@(B("(B B(@(B("J_\ A"_:EH_]]U/]3E:"J_\
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M$%I/ <#Y<+#EC=%*^-XP]A+2.PA3>_ 7;1[-U,2-,$3)I#+)ON:W>+SEV!G
M"ANH3"Q?M3MX-DE<\>8DE!CHB("(B B+;[*:8[5]=JU=W,>]OR>1@XGV>E!=
M.SM<U=!T^%PPYD# 1Y<#*V"(@(B("(B B(@(B(*I[H>RSZ5F34Z$9-20[TK6
MC^*<>OS'Z%!5]'N:'-+7 .:1@@C((4$VB[GM>T]\^D2-K2'B87_Q9\QYCZ4%
M5HM[>V2UNFXB33YI /OHAT@/J6#[C:G\G7/F'>Q!@+<7)6S;,::UKAOUYYF.
M;GCXVZX']/J6-[CZG\G7/F'>Q/<?4_DZY\P[V(,T:S5L00-U73A:F@8(V2LF
M,9<T<@[ .<=O KAVT,SK$\KH8VM=5=5AC9XK86GAP[>&?6L/W'U/Y.N?,.]B
M>X^I_)USYAWL0>U'5S4J58&P-<(;8MN)=\,@ !OFX'UK)=KE>3W0BFHO=5MS
M"?<$^'->,_?8X@Y/#"P/<?4_DZY\P[V)[CZG\G7/F'>Q!GS;0[Y;T5-D+64G
M4V-:\X:'$Y=QZ\$A8=759*NG,K0,#7MM-M=)GF6C#1CR<3Z5T]Q]3^3KGS#O
M8GN/J?R=<^8=[$&P=K4;Y;,FGZ>(+US+'R=*7!N]\+<&/%SY2<96/KEB-L%3
M3:SP^*H#OO;R?*XY<1V@8 'F6/[CZG\G7/F'>Q/<?4_DZY\P[V(,!%G^X^I_
M)USYAWL3W'U/Y.N?,.]B# 19_N/J?R=<^8=[$]Q]3^3KGS#O8@P$6?[C:G\G
M7/F'>Q9U'9+6[C@(]/FC!^^F'1@>M!HE.NYWLL^[9CU._&14B.]$UP_C7#K\
MP^E;K9WN>UZKVSZO(VS(.(A9_%CS]9^A3MK0QH:T!K0,  8 "#E$1 1$0$1$
M$,[LWW*]J/["];;8+[1MG?[NK?JFK4]V;[E>U']A>MML%]HVSO\ =U;]4U:?
M#^J=V]1$6:B(B B(@(B("(B B(@(B("(B"K]K/N]["?V*[_H*M!5?M9]WO83
M^Q7?]!5H+2_2OI_<I B(LU$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1
M$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1
M$0$1$!$1 1$0$1$!$1 1$0%5_P#"%^U+1_[[J?ZG*T%\X_PD-IMJ--?4T_4-
M)INT<78[=2]"7^.YA)$;P3XKO)U\QY-M"LVO&$GH^CD48[G>IZ_K.SL6H[3Z
M?6TVQ8\>*K%O%S&=1?GD3V=77QX"3K*8Q.%$1% 1$0$1$$9VQV4@UZ+I8BV&
M^P8;)C@X=CO;U*HM5TNYI5DP7X'Q/ZB1P=Y0>17T&O&W5@N0F*U#'-$>;7M#
M@@^=45QW>Y_HEAQ=$R>L3U12</4[*P#W-*'5>M>IOL056BM3P:4/CUKU-]B>
M#2A\>M>IOL056BM3P:4/CUKU-]B>#2A\>M>IOL056BM3P:4/CUKU-]B>#2A\
M>M>IOL056BM3P:4/CUKU-]B>#2A\>M>IOL056BM3P:4/CUKU-]B>#2A\>M>I
MOL056BM3P:4/CUKU-]B>#2A\>M>IOL056BM3P:4/CUKU-]B>#2A\>M>IOL05
M6BM>+N:Z8UV9+=MX[ 6C]BWVE;*Z/IC@^O38Z4<I)?'=Z,\O0@K?938JYJSV
M3W6OJT>>\X8=(/YH_;^E6[2J04:L=:K&V.&,8:T=2]D0$1$!$1 1%"^ZAM-K
MNR>C>ZNBZ)%J]2$$VF=,621-_# #3EO;UCGRSBUK-IQ T?\ !I^Y#I7];8_7
M.5H*@?X+>T.M7= CT:'1XFZ+0=(9=1?*07/>XN#&MQ@GQN/'@/. K^6FO$QJ
M3E(Z"(BR41$0$1$!$1 1$0$1$!$1 43[K4C8NYEM2YV,>YT[>/:6$#]*EBK7
M^$+;?'W.)]-K<;FKV8-/@;^$Y[P2/4TKO3C-XA)Z)-W-(W1=SO9=CP0X:96R
M#_5-4D7AIU5E&A6J1?Q<$38F^9HP/T+W7,SF<J(B* B(@(B("(B B(@(B("(
MB B(@(B("(B#1[8:$S7M)? ,-LQ^/"\]3NSS%4?8@EK3R0SL='+&2US7#B"O
MHQ1C;#9*OKK.FA+8+[1@28X/'8[VH*619VK:5=TFP8;\#XG=1/P7>4'D5@H"
M(B L[4=0?<=$[!8YL#(9"'?#W1@'U >I8*(.S'.8<L<6GED'"YZ63\-W+=Y]
M78NB(.\LLDSMZ61[W<LN.2N9)I96M;)*][6\&ASB0/,O-$'<R/+P\O=OC&'9
MX\%W;9G:][FS2AS_ (1#SEWG[5XH@SJVH.KU+$<8/33-$1E+L[L?6T#JSV]G
M!8*(@(B("(LBA2LW[#8*<#YI7<FL&?\ ]"#P:"X@-!)/  =:N3N?;.G1M/=/
M:;B]8 +@?O&]3?/UG_X6-L9L5'I3F7-2W9KHXL8.+8O:?+_^E31 1$0$1$!$
M1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$00?NWS
MLK]RC:9\IPTU3&/.YP:/I(4@V,@?6V0T*"48DBH0,<.PB-H*@?=ND]W+FS.Q
M%=Q=+J]UDUMK>;:L1WGD]F2!C^B5:C0&@!H  X !:3RI$)W$1%FHB(@(B("(
MB B(@(B("(B B+K)O]&[H]WI,'=WN6>K*"L=K/N]["?V*[_H*M!?+FWG= VG
MTONO:+-J6S$;=4TYDM>M7AE<]EL2C=#F.W<D=G#GP."OI/0)=1GTBM-K=:"K
MJ#V;TL$+R]L9/WN]UD=?E6^K2:UK,^"1+8(B+!1$1 1$0$1$!$1 1$0$1$!$
M1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$
M1 1$0$1$!$1 1$0$1$!$1 7E;LP4Z[Y[4K(H6#+GO. %Q=M0TJDMFR\,AB:7
M.<>H*DMJ]H[.O7"YY='48?L4.> ':>TH)?K7=(8Q[H]'K"3'#IIL@'S-''UD
M*+V-M]>F<3W[T8[(XVC'T94;1!OO??KWRE-ZF^Q/??KWRE-ZF^Q:%$&^]]^O
M?*4WJ;[$]]^O?*4WJ;[%H40;[WWZ]\I3>IOL3WWZ]\I3>IOL6A1!OO??KWRE
M-ZF^Q:[7-4NZ[6BKZM8=:ABE;.QCP,![?@NX=F5A(D3CH-][[]>^4IO4WV)[
M[]>^4IO4WV+0H@WWOOU[Y2F]3?8GOOU[Y2F]3?8M"B#?>^_7OE*;U-]B>^_7
MOE*;U-]BT*(-][[]>^4IO4WV+D;7Z\#D:E+Z6M/[%H$03'3^Z%K%=P[YZ&TS
MK#V;I]!'L4[V<VPT[6G-A!-:V?\ P9#\+^B>O]*I-<M):X%I((X@CJ0?1Z*#
M=SS:MVH@:;J+\VV#[%(><@'4?*/I4Y0$1$!$1 1$0$1$!$1 1$0$15_W0]K'
MU'/TO3)-V;'V>5IXL_FCR]IZD&ZVCVST[1W.A:3:MMX&.,\&G^<[J^DJ#7NZ
M%K,[CWMT%5G4&,WCZW9_0H>3DY/-<()#[\]?^47_ #;/8GOSU_Y1?\VSV*/(
M@D/OSU_Y1?\ -L]B>_/7_E%_S;/8LO934I)18KRUZ3XZ].61A=687;S6Y!)Q
MDKUV:LV-5FU.45:3[453["WH(VLSOCC@C&>)XE!K_?GK_P HO^;9[$]^>O\
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M0$1$!$1 1$05QW6=6<WO?2XG8#ATTN.OCAH^@GU*ME(-OIS/M9J!)X,<&#S
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MCN."QTF6 X;PY$K&UJK'I4FJ7M"Z05M&FB:^U9D?8)M2%D;YG%Y)<(('<,G
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MMM%W0MD]G=X:OKU&&1O.)DG22?D-R[Z%%AW)9]5\;;/;'7M:!^%!')WM ?\
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M(@IK1=AM6U!S73Q=YP=;YOA>AO/UX5G[.[/TM!KEE1A=*X>/,_X3O8/(MNB
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MD!1= 1$0$1$&ST6_%2AU-DH>39JN@9NCDXN:>/DX)HE^*C'J39@\FS4? S=
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M^^WVG\@H+K1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1
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M8X$Y6++HNH1WXJ9K.-B4;T8:0X/':"#C' \5(]>MP/9M.(K$3NE=5W-UX.^
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MM3WE=T3_ (GN_P %A]JM!$W;?+[085?[RNZ)_P 3W?X+#[4]Y7=$_P")[O\
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M-HOHZA3?-5Z4RQ.CDW)(B1@X."", <"%Q=U2K)#5IU:DD>GPRF5['R[SY2<
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M!>WI(B^&6/L+<$AWG"T-[0[]*L;$T3'0 AKGQ2MD#3V'=)QZ5A6*TM?HC*W
ME8)&$'(<T]?T$>A!*)];H5':E:TH1MMSMC@8.@ 86XS(_=(P X@#"Q/=QNH:
M+;IZFZ-DC'-FJF.$,&\.#@=T=8/7V+20TYYJMBS&S,-?=Z1V1XN\<#Z5CH)7
M=U*A=GVC:;)C9<>R2!YC<0[=).,<QG*V-#6]-J:C5GKWF5]/:&@U8JN) =W!
MWWXX\<G.3GL4#1!V?C?=@Y&>![5U1$!$1![4YW5;<%B,X?$]KQYP<KZ)8X/8
MUS>3AD+YP7T51_W*O_5M_0@]D1$!$1!5^P'W:.Z9YJ'ZDJT%5^P'W:.Z9YJ'
MZDJT%IJ]?I'\) B(LU$1$!$1 1$0$1$!$1 1$0%H-N[QH;+W9&'$DC1$W_U'
M!^C*WZA7=9<1LY !R-EN?R7(*D1$0$1$$A8ZKK&C4J\ER&I=IAT8Z?(9(PG(
M\8 X()/->E:+0ZE[3H+$S;.'.=:L,WA'R\5HZR >9QUK4U='U*U V:M0M30N
MY/9$2#U<UB3PRP2NBGC?'(WFU[2"/04$LMW(&:!JE:2SIG3R]&8HJ46Z" _)
MR[ R?)D\ET=J53W],N].WO4,:.DXX_B=W]/!1)$$LT^:A#IU%]>;3HGM!-IU
MF+I)@[>/P 01C&,8]*]-7M4]5.IU(KL$1-XVXI),ADC2W!&<<".'TJ'KT=#(
MV%DSHW")Y+6O(X$CF ?2$$M?>HPVVM9<9+&S1WUND (!DP[@,\>L+(TRWIM.
MUILU>QIL-1@C,KGQ%]C?^^'$'''K&  H,B#?:E;@?H+Z\<S72^Z,LNZ.MA:
M'?0L?:2S%9NP/@D#VMJPL)'4X, (]:U*(-]JNIN]S-'BIVY&NBKELK8WEN';
M[CQ]&%[V=9Z,;/68IC-9J,/2@DDYZ0G!SVC]*C2R*-N:C998K.:V5N<%S X>
MH@A!+M0O4]%VDT^M#O=Y4W/>_ X@RYR<=K6EH]"UK8:FG:)K$7NE7L2V&QB)
MD6\=X"0$DY' XZO.M'(+-LV+;Q)+AV]-+C."X\R?*5CH)9-JU1NVLMLR[U22
M/HC*P9W08@PD#R%8@%;2M'U*'OZO:GN!D<;8"2 T.#BYQ(&.7 <^*CR("(B
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M@R-K1!G28Y9//'DY+K?M1C2:5"N[>:PF>9PY&1V!CT- 'G)096C_ &K;0_\
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MKS=1I16H&RV*]1T;WR ,<8V#>87<@>/7UA!I=<TD:;INF/>T"Q.)"\M>'-<
M[Q2".&,=BTJW^T#8X='T>JVU!/+")>D$3P\,)<"!D+0("(B LW2-4MZ3<;9H
MRF.0<QU.'81UA82(+WV5U^#7]/Z:(;D[,-EBS\$^P]2W*HK9#6':+K<$^\1
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M\$!$1 1$05?L!]VCNF>:A^I*M!5?L!]VCNF>:A^I*M!::O7Z1_"0(B+-1$1
M1$0$1$!$1 1$0$1$%7U/^\G>_P#++?\ W#5)NZ;6-C969S1DP2,E^G=_ZE&:
MG_>3O?\ EEO_ +AJLJ]6CN4YZTPS',PL=YB,+34[>D)#YU19>J49=-U">G8&
M)(7%I\O8?,1Q6(LU$1$!$1 1%R.)09MBB*VFP3SN(FL'>BC'XL<-X^<\!YBM
MA=T#O39]EY\Q[ZRPR08^ Q^]NDGM.[R\H6UNTX9MK;TMP8TS2VMWQU%K0 U@
M\KC^U#=IZO2VB-<6^^9HA9=TQ:6@,>. P.H''F0:G3=";;;I.],YCKTLC< ?
M!C9C+OT^I:R[2L4W-[XKSPM?QC,K"W>';Q4TI130VXXZO"?3])'1CKZ:7C@>
M7Q^'F7AI+!6BTBGKA(EEO]\=%,>+&AN!O9Y;SL<^Q!$I]/N05V6)ZD\<#_@R
M/C(:?2O2KI.H6MWO>E9D! .6QDC!Y'..2E%]TL-/5)[.GVX);?V BW:STCB[
M.6-W!G&.><!=VRRS;<TM/;(_O6B61MC:>!Z-N3PZR2W]""-7M$N5]7GT^&":
MQ-$?O(CEP[0.SRKKINER6-7;I]ELE>9X< US<$.W26@@]IQZUOJ=:R_2[,\L
M-^U+9M.9/7@=T?1EO'[(=TGK/#@."S)PV/;6EO9;#IE1CY'%V]@-87_"Z^+@
M/4@@BX7+CO.)[3E<("(B B(@+TKQ.GGCAC&7R.#&CRDX7FI?W,](=?UUMN1O
M^ST_')/6_P"]'[?0@MZ",10QQMY,:&CT+NB("(B B(@(B("(3CFF1VA 1,CM
M"9':$!$R.T)D=H0%4FU\$O="[I;MD)9Y8]F]'KLM:G'$\M-J5_&.(D?>XX^O
MKP19VLQ7+&F6(]*N,J7BW[#,^,2-:[JRWK"^9-BM0[I![KNT.FUN\8=5MRQ'
M5;+H ^*)D;<->./6UW <SD<N.-]&N<VB>B2^CJ&R>SVGU6UJ>AZ;# T8W6UF
M<?/PX^E>GO:T+Y%TS\UC]BV<(+(F-DDZ1X: 7D ;Q[<!=\CM"QXI\5:GWM:%
M\BZ9^:Q^Q/>UH7R+IGYK'[%MLCM"9':$XI&I][6A?(NF?FL?L3WM:%\BZ9^:
MQ^Q;;([0F1VA.*1J?>UH7R+IGYK'[$][6A?(NF?FL?L6V1.*1J?>UH7R+IGY
MK'[$][6A?(NF?FL?L6V1.*1J?>UH7R+IGYK'[$][6A?(NF?FL?L6V1.*1J?>
MUH7R+IGYK'[$][6A?(NF?FL?L6V1.*1J?>UH7R+IGYK'[$][6A?(NF?FL?L6
MV1.*1J?>UH7R+IGYK'[$][6A?(NF?FL?L6V1.*1J?>UH7R+IGYK'[$][6A?(
MNF?FL?L6V1.*1J?>UH7R+IGYK'[$][6A?(NF?FL?L6V1.*1JXMGM%BD:^+1]
M.8]IR'-K,!!\^%M$72=CI(9&,D=$]S2!(T EI[1D$</*$SD5EM9]WO83^Q7?
M]!5H+Y:VS'=-I]V'1*@MU[NJALK-+MMKQM8Z%P(>YS<8&!G.<XZL\%],Z-!<
MJZ76AU.YW[=:P":QT8C#W=9#1P [%MJUX8KS[)#,1$6"B(B B(@(B("(B B(
M@(B("(B B(@(B("(B#I/_$2?T2OG[N9;#>^3N/[+ZKHULZ7M1I[K!IWF\L=\
M2?8Y!]\P\?-D\\D'Z!G_ (B3^B56W\&S[CFA?TK'Z^1;4M-:3,>,?VCG9;NF
MB/4&:!M_5&@;0MX-=(<5K?5O1/Y<>PGR9/)66#D9'$+5[1[/:3M+ISJ.NT(+
MM9W'=D;Q:>UIYM/E&"H$WN';)M :R766M' -;??@#L"G[+<^AS6BHWM'MGI.
MSFOZ-I>L3=[.U42""=_",/86#=<>K._P/+@HGX#]E?Q^M?X@]0'NA]PQES:7
M9S3]F77FU)A,^]:M3.F; QICQC/WQR<#K\P)'5*:<SB;&927ND?;?=\T?^@*
M,+8Z[H-79G4':10?/)6K,:&NG?OO.1O')\Y*URQGKR41$4!$1 4GTRI49LW'
M<DTEVH3OLOB.)'MW6AK2.#?.5&%+-(G>_9>.M4UB'3[#;3WO#YW1%S2UH'+G
MQ"#5W:_?URM5H:.ZE.\D!A>\F3\KEC!7G;T2S!5-ADE:Q$UXC>:\H?N./($#
MMPMG%%&-9I/UO6(+T)WAO-L/?N<. <2,AI)'+RK+L6:\>@ZA7EGTV*9[X7,C
MHMR=T.XG>^^/'EGJ0:2UL_<KPS/<^LYT&.FC9,USXN./&'G]2YVDTF/2I:K8
MIHY!+ R0[L@<=XM!)X=7'AVA;O5)ZD]2\_4)],MDQDUK, W+#WY\7?:/IR%@
MZI5CU6WIG>MRL>DILC(+CECHXQD.&.&<<$&ETB%EC5:4,PWHY)V,<,XR"X I
MJ\+*^JW88ANQQS/8T9S@!Q 7;19&0ZQ0DE<&QLGC<YQY !PR5M-;TN*2Y?N1
M:KICV/DDE:QLQWR"20,;O-!B;0TX*;M/%=F[TM**9_$G+G#B>*]Z56G2T:/4
MM0@-I]B1T<$&^6-PW&\YQ''F0,+.U6G!JD6FRPZKIT71TH8G,EE(<' <1@ K
M'B%>_H[-,ENUX+5*9YADD<1%*QV,X=CAQ&1GM08&IR:98IQ34H75+6^6R5PY
MSV%N.#FD\NS&5JUM]2J4:.GQQ-LQVM1=)O/? XF.-F/@YZR3QX+4("(B B(@
M+D$CD5PB#Z01$0$1$!$1 1$0$1$!$1!\_P"OV3<UN_8<<[\SR/-DX^A:]>EC
M_>)?Z1_2O- 1$0<@$D #)/4%[6*=FNUKK%>:)KN1>PM!]:W6S3C4TO6=2A [
M[K,C9"XC.X7NP7#R@#Z5DZ,=8NU+&+D%N*Q&]KJ]FSO.. 3O!I.<C&04$512
MO3MG8SIE.S-3NW'6@7?[/(U@B;D@<P<GAGJ76?0Z.FPZG)?=//WI99$P1.#>
MD#FDC)(..&/T((LBED&SE:UJ$;JW?)INI"[T0(,G/=W <8Y]>.2[NV:A?+IL
MCH+5..>VVM+#+(USL'DYK@//S'-!$$4BCHZ78U22O4@U&80M<.C9ASYW@X&,
M-\0=?'*V]'1ZU'6=!LNJV8>^+!C=7ED:XL<TC!R!RX\B,H(3T;^CZ3<=N9W=
M['#/9E=%*HM-9J5-K*DD\+)]4$#8WR;S6Y9Q<> R>?HX+'%#2KPOP:<VU'/5
MB?*R25X<V9K/A9  W3CB.)01U<@$D #)/4%+F:-I'NK3TQPN&>U#&X3![=V-
MSF @;N.(SY1S48HC%^N.R5OZ4'B]CHWECVEKFG!!&"%U6WVM^V;5/[0_]*WE
M^C1OS:6S<G@AATT6)7!X<>C;O' &!XV>OR\D$.#'F,O#7;@."['#/9E=5)K+
MZ+]C[+J$<\7^VQ[\<KP_'B/P00!S\W4HR@(B("OK9&R;>S6G3..7&$-)[2.'
M[%0JN_N>_:?I_F?_ *W()"B(@(B("(B B(@(B("(B J7[I%PVMJK#,Y97:V)
MOJR?I)5T*AMKB3M/JF?C#_TH-0B(@VVHW()M TBK&\F:N9ND;@\-YP(X]:V5
MB33-0T[2VR:MWK+7K]$]A@>[CO$\QYU%T0;^A:I:7J4L??3KM&U Z&=[(RQS
M0[L#NL8!2*'1: FG?=&HNW'-A@;"Y@WB,!SR>6.>!E:!$&QV=LQ4]<H6;#MV
M&*9KWG&< %>NEW8H-I:]N60BNRT)'.P3XN]GEYEJ402ZGK<;J,U6.^VB]MJ2
M9DCX>D9(QW4>!((QV=:ZV-7J7)+U*Q=F=!/#%&RU)&.#V$GX+1D-))[2."C3
M*LSZLMED9,$3@U[^H$YP/H*\XHI)G%L3'/(!<0T9P ,DH)55U#3:,^S[([9F
M93FE?/((W >-NXP",D<%UHZC2ATVJ*UR*E*PN-G_ &;?ED.]D%KL'JP,9&%%
M0"2 .9X+TM5Y:MB2"PPLFC=NN:>HH))K.K4K(VAZ&4N[\FA?#XI&0W.?-C*X
MI:O3CJT*TSW"-U*:I.YK23&7O)!QU]7)1=$&^NOH5]G'4:UWOJRZVV9Q;&YK
M=T,<.&1Y?I7GHVI-HZ/K$39WPVIVQ"(LR"</R>(Y<%I40>\]J>RYKK,\LQ'(
MR/+L>M2IEJM<VTWZ<KK%;4FF&9@86E@>,$'/9P.1V*'+)IWK5-LS:L\D(F;N
M/W#C>'8@RMHK;+>K3.@_W:+$,(_F-&Z/7C/I6L1$'M2L/J6X+$1Q)$\/;YP<
MKZ'AD;-"R1GP7M#AYBOG)?06@DG0].)YFM'_ *0@C^W^S)UFH+5-H[_@& /Q
MC?P?/V*GWL=&]S'M+7M."TC!!7T<HYM-LA0US,IS7N8_CF#X7](=?Z4%)(I5
MJ>PFM4W'HH6VHQR="[CZC@K4.T'5FG!TR[G^H=[$&L659N/L5*D$@;BLUS6.
MZR"<X/F)/K7O[AZK\F7?F'>Q/</5?DR[\P[V(-<BV/N'JOR9=^8=[$]P]5^3
M+OS#O8@UR+8^X>J_)EWYAWL6,RE:?J$E!E>9UZ-@D?7#"9&M/)Q;S \J#'1;
M'W#U7Y,N_,.]B>X>J_)EWYAWL0:Y93KDGN>VFP-9%O\ 2/QSD=U9\PY><KW]
MP]5^3+OS#O8GN'JOR9=^8=[$&N1;'W#U7Y,N_,.]B[1Z!J\CL-TR[GRPN'[$
M&L7M5KS6[$<%:-TDTAPUK1DDJ4Z5L!J]MP-L1TXNLO.\[T ?MPK'V<V:H:#&
M>]F%]APPZ=_%Q\@[!Y$'EL9L\S0-,W'X=;EPZ9X[>IH\@6_1$!$1 1$05?L!
M]VCNF>:A^I*M!5?L!]VCNF>:A^I*M!::O7Z1_"0(B+-1$1 1$0$1$!$1 1$0
M$1$%7U/^\G>_\LM_]PU6@JOJ?]Y.]_Y9;_[AJM!::G;TA(0_;_9;W9KBW2:.
M_P")N-W\:WL\_8JAD8Z-[F2-+7M."TC!!7T<HYM-LC0US,IS7N8X3,'/^D.O
M]*S522*3ZKL1K-!SBROWU$.3X#O?\O-:":E:A<6S5IHR.IS"$&.B].AE_%O_
M "2G0R_BW_DE!YHO3H9?Q;_R2G0R_BW_ ))09&J7G:A;=8>W<>]K \ YWB&@
M$^G&5B D<BN_0R_BW_DE.AE_%O\ R2@Z;QSS/K1SBYQ+B23S)*[]#+^+?^25
MU>QT8R]I:,XR1A <]SB-YSCC@,GDN XAV\"0[GGK7?H9?Q;_ ,DIT,OXM_Y)
M0=1(\;V'N\;X7'GYUE1WG1:=+5B;NF9P,LF<ES1R;Y!GCY>'8L?H9?Q;_P D
MIT,OXM_Y)0>:+TZ&7\6_\DIT,OXM_P"24'FB].AE_%O_ "2G0R_BW_DE!YHL
MVKI.H6G 5J-F4G\&,D*5:)W/-0M.:_4WMJ0];00YY]7 ?_>""+Z+I5K6+S*M
M*,N>?A.ZF#M)[%>&S^D0:+ID=.MQ#>+WD<7NZR5VT;2*>CU1!0A#&_?./%SS
MVD]:ST!$1 1$0$15]W2-J'UM[2M/DW97#[/(T\6@_>CRGK09VU&W=73'OK:<
MUMNTW@YV?L;#Y^L^0>M5[J6U.L:@XF:]*QA^\B.XWU#GZ5I$0=W2R/.72/<>
MTDE<;[OPCZUU1!VWW?A'UION_"/K759-"J+=CHC8@K\"=^=Q:WS9 *#PWW?A
M'UION_"/K6\M[-/JP,EEU/3-U\9DC F=EXX\O%\BZC9Q[8*\L^HZ;7Z>)LS&
M2RN#MT\N&Z@TN^[\(^M< D$D$@GF>U;&/1YY]1=3J2U[!:W?=+&_[&UN,DEQ
MQ@!>MG0I8ZDMFM;IW8X<&45WDE@Y9(('#RA!JM]WX1]:;[OPCZUL9-%M,UB+
M3<QNGEW-QS2=PAP!!SCE@]BY;HEHZV[2]Z(6&DY<7'<P&[V]G'+ SR0:W?=^
M$?6F^[\(^M;#3-&M:C4N6*VYT=9N\[>."[@3AO:<-)6M0=M]WX1]:;[OPCZU
MU1!ZQ69X7;T4TC'=K7$*0:3MIK.GN =9-J(<V3^-]//Z5&D07?LOM71UYO1L
M^P7 ,F%YY^5IZPI"OG*&62"5DL+W,D8=YKFG!![5=&PVT8UW3RV<@7H,"4#A
MO#J</_O-!)41$!$5?]T/:Q]0OTO3)-V<C[-*T\6?S1Y>T]2#;;2[:T-'<^"
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MS,BB:7R/<&M:.9)Y!=7 M<0X$$<""I%J5**K+I=BJR&"S)+NN@BL"8-((W7
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M)) [%[C:$_8YGT:S]0CC$3;3MXD # .[G!<!UX6B1!N*FO3UG:>611EM-LC
MUV</#\[V?.#C@N+&L-=ID]"K2AK5Y7MD):YSG$MSS)/'FM0B#?C:>UW_ *?9
M=#$X4XNB;&<[K_%W27>4C'J"QJNM2-=?[\A9;CND/F:YQ:2X'(((Y<25J40;
MT[12@U>BJP1"M#+#$UF<-WP1GB>8RL+2]2[SAL5Y:\=FK8W>DB>2.+>1!'$'
MB?6M>B"0T]2BDNLU"Q'!#!0:.]ZL?WS\DM''B>/C$GL\H6AFD?-*^21Q<][B
MYQ/63S71$!$1 1%M=!T&]K=@1THCN ^/*[@QGG/[$#9K1YM;U6*I$"&9WI'_
M (#.LJ]ZT,=:O%!"T-BC:&-:.H 8"UFS6@U=!H]!7\>1W&64CB\_L'D6W0$1
M$!$1 1$0$1$!$1 1$00/NH:"ZW59JE5F]+7;NR@<RSM]'Z#Y%5:^D" 001D'
MJ59;8["2,DDN:(S?C/C/K#FW^CVCR(*\1=GL=&]S)&EKVG!:1@A=4!$1 6\V
M;^PUM7N#^,@JD1GK:7N#,CT.*T:SM,NMJ1W8Y&ET=F Q$#J.0YI]8"#:2Q23
M[%TN]&.>R*U(; 8,X<0W=)]&1E=--T"S)+IPED9"^W*=R&5I)+&C.^6]G, =
M:U%*[:HR%].Q- \C!,;RW(]"XDMV);/?$D\K[&0>E<\EV1UYYH)I+;-K0M;L
MOFOSP;C8F,L,#(@\O&-QH)Q@#T+TANSU]K*FGQ2NBIT(&MF:S@) R/>=O=O'
M(XJ&6-3O6"[OB[9DWL9WY7'.#D=?45X]]6.EEEZ>7I901(_?.7@\P3UY02W3
M&3UJFG5HK-R*:\>G:RC&!D$X&\_/'&.6,!>NJ2&O)M#?TQI%H7&UA(P>-&W!
MWG#'(N+<942BU*]#6%>*Y89 #GHVR$-SYLKBOJ%RO-+-!;GCEESOO9(0YV>T
M]:":3=]R2:4+LF[8HTGW9RZ+I'DN=@>+PR[ ;S\Y6%KLKI=DHY)9;UAT]O[$
MZYC>#0TY+>> 21U]2B[+]N.RVPRU.)VC=;()#O =F>Q953596VA/>DFM&,F6
M-DCRYIDY!SLGR#SX 09.U^&:I%7SE]:M#"_^DU@RM&N\TKYYI)97%\CW%SG'
MF2>971 1$0$12?9;8^[K4C)9FNK4>9E<,%P_FCK\_)![]SG07:GJS;<S/]DJ
MN#B3R<_J'[3_ /*N)8VFT:^FTXZM.,1PQC  Z_*?*LE 1$0$1$!$1 1$0$1$
M!$1 5';=P&OM7J+2/A/Z0>7> /[5>*K?NLZ2XFMJD3<M Z&7'5UM/Z1ZD%;H
MB("(B MAI5)EAMBQ9+FTZS=Z0MYN)X-:/*3ZAD]2UZW\<3I-DZL$ &_9U!S7
M<<9(8T-!/_J*#MLKHD&J2NDORR0U#(V",LQE\KCP:,]@R2M-'4GD?.R.-SC
MUSY,?>@'!)4IM:MIFG6*-!E:6PS39 X3QV-QKY,@N=C=.>(P./(+O-3/3[5Q
M43')/)(UK '@?8W/+W$9/+@T>E!%(J5F6.*2*![VRR=$PM&=Y_#@/6%E/T+4
MF3P0OJO#IW;C#D$$]8R.&?(I!'&^K)HM2E;J]]58'VFY<"R25SOXO.<9W0 L
MBK6@9JFC-<SO%\E@S2T>F#F!S!EKQD^+GB,%!']0V=N0ZK9ITX9+ A<&[X X
MYS@^3.#Z%CP:#J<^_P!#3D<&/,9Y<7#F!VGS+86YYJNSMF.1^Y:NW7=,T.X[
MK!R./YSCZENM.HP"YH[711V*;6QN%N>T0UI/C.:QH(P0<C''RH(M5TT/TF_9
MF$C9H98X(F#AE[B<@CR %=I-'L6+]F'3JM@L@(:_I2T%CN1#CR''/!2*G-%8
MFTLS/8T6M1FOS D<&LY ^IRQX8A;TIEGHFW.^;$DU@2V3'%7=G@2 1Q(XY0:
M73])?+J4]"Y'+#9;#(YC3P.^UI< ?(0/I6I4XL2QQ[6:E<9NBKIU4L:0<@GH
M^C: ?*2H.@(B("(B#EH+B !DG@ OHC3X>]J%: \XHFL]0PJ9V!TEVJ;0P9;F
M"N1-(>K@> ])Q]*NU 1$0$1$!$1 4"AV[N/9!JKM*A;LQ/>[Q9;[Y/39,G1-
ME,>[@1E_#X6<$''4IZJ=KT[SMC*.PITS4!J,.H1MDG-9XKBNRUTO3"7&X06
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MYX>CL*"\$6OT/5ZNLT6VJ3\M/!S3\)A["%L$!$1 1$0$1$!$1 1$0$1$!$1
M1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1
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M_P"(U?6[VIX2[_Q&KZW>U0)$$]\)=_XC5];O:GA+O_$:OK=[5 D0613[IOC
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MMPQF62NQSBX- R>.-TD#J!7E=KQ^][3K<;&MD,DL,A ^%C#@3Z'8] 0:E$1
M1$0%?_N=4O5M.DN5XYI*I9- YPXQO QO-/4<$CTJ@HV&1[6-&7.( 'E7T7 S
MHX8V?@M#?4@[HB("(B B(@(B("(B B(@(B("(B B(@(B(*OJ?]Y.]_Y9;_[A
MJEW="&=D-1QV,_UA1&I_WD[W_EEO_N&J?[1TS?T&_6:,ODA<&C^=C(^D!::G
M;TA(4 B(LU$1$&7#J-N$51%.YHK.+X<?>..,D>H+S9:FCCGC9(0R< 2#\+!R
M,^E>"(-@[6-0,E60VY.DK-W8G@X+1V9Z_2EC6=0L302RV7ET#M^+ #0QV<Y
M QE=M&IQSFQ9M9[SJ,Z20 X+R3AK!YS]&5G=!0TRA7M7JHM6K@,L5??<R.*/
M) )P<DG' 9Y(-.VY8:+(;*X=\#$O\\9SQ]*&Y.65VF5V[7ST0_ R<\/2MM>I
M5KNEU]0TR!U=SK'>LE??+FAY&6EI/'!X\"O*SL[=KLM&1U?I*P+I8FR@O#0<
M;V.Q!BUM7OUIYYH;+P^<[TN0"'G.<D'@>*X]UK_NAW[WU+WT>'29XXY8\WDY
M+:7]G7Q-TR"H^.:W8B,L@;*" .)!\C=T9R?*L"UHMF".*1CZ]B*23H0^"0/
M?^">PH.)=<U*66"1]MY? [?BX !A\@Y#DN*NM:A5K]!7M/9%DN P#ND\RTGB
M/0LZ+0)Z=XMN1UY^A$CY:XL8<&L!))QQ [.U>$.SUV6.,CH&S2LZ2*N^4"1[
M>T-\O5VH,.?4[E@3B:P]_3[G2Y^_W?@Y\RSJ5R*MH=NO3-A]RVT"<;N&,C:2
M3CCQSP[,<5XUZD4VS]VQN8L5IX\NR>+'!PQCS@>M<4 !HFJ.;_&9B:?Z!<2?
MI#$&.-/O,;%-WI8:QY;T;S&0'$\L'''*SY=J-:>U[)+\I#@0X$#V+-UIG24K
M%BS5CK/9T0KRQ2N<)N &!DX(#1G( QCBM5M&UK=:M;H )(<\#J>0"[Z24&'8
MLS6&PB>0O$+!&S/WK02<?25XHB B(@+8;/ G7M- ^,Q_Z@M>I#L#3-S:JB ,
MMB=TSCV!O$?3A!=Z(B B(@(B("(B B(@(B("(B JO[FWW7>ZE_74/U+U8FLV
M;5/3+%BA2-ZS$W>96$@C,F.H$\,]F5\V;"]U:2OW4-J'5]F;]B_K]BO''2$@
M;)"Z)CF.#LCRY/+&#E;Z5)M6V/SG"3+Z?1=8B]T3#*T,D(!<T.W@#UC/6NRP
M41$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1<.R&G= +L< 3@$H*P[HOW8.Y
MA_67_P!2U6@OF/NF=T^Y1[J&S<NJ[,6*EK09)R8.^0_OD2L#&N8[=Y<,YP<\
MN!7T3LU>NZGHM:YJ>FNTRS,W?-5TO2.C!Y!QP...KJ6^K2:UK,_G.4B6S1$6
M"B(B B(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B""=U;2G6--@U")N7
M5CNR8_ /7Z#^E54OHV>&.Q!)#,P/BD:6N:>1!YA4CM?LY-H-\C#GTY#F&7R?
M@GRA!H$1$!$1!M=E:T=O:"E%.-Z+?WW#M#07$?0MA1L22Z3M%J<I)GL;D /:
M7OWG#U-6HT.Z-.U:K;<TN9&\%[1S+>1'J)7:GJ]W3A)'IUN:&%SM[#3C/E/H
M0;/0H7T='U6]::8XIZYJPAPQTCW$<NT #*D+^]:>L>YL,TYJ5F#IJC*;2V1H
M;ESG/+AG///5PPH+>OV[\@DNV99WC@#(XG'F[%ZR:QJ$E/O22Y,ZO@-W"[F!
MR![1Y$$BJUAWGHT#!$(HV3ZE*)VES=S. 2T<3P9R7.J6&S[+3VI;,MS>M,C@
M?+6;%N$ EVY@GAC ZE&(M2N16(9X[,C986".-P/%K1U>;BN;FIW;D?1VK,DL
M>]OAKCP!QC@.I!/)J43-1U2)D+7VM5BE="W \5@CWACSN_TK69CJ-F?#/##4
MT]K:;)Q#TKS,<N>]@R!DD$9/5C"BXU2\+<=D6I18C9T;)-[BUN,8'H*ZT=2N
M4.D%.P^(28WP#P=CEP0322.)^K:!+9+YWQP279I98A&][&Y<W> )_![>M8FG
MZ@)M$LZC;G[WE;.*\#HJS9.]VD%QW1D8SC&\>/#RJ+RZG=E>7RVI7O,1A+G.
MR2P\VY[.*XT_4;>GN>:5A\.^,.#3P=YP@D\K&S[2[/M;TKK>6/EFDB$1D;O[
MP<0"?O>L]BBVHR-EU"U)'\!\KG-\Q)PLNMJCHF7+#WRRZE8!C$KSG<:1XQSS
MWB.'D&5JT!$1 1$0<@$D #)/(!7ML?I9TC9^K6>,3$;\O](\2/1R]"@W<XV7
M?8GCU6_'BO&=Z!CA\-WX7F'Z5:2 B(@(B("(B B(@(B("(B B(@(B("(B B(
M@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B B(
M@(B("(B B(@(B("(B B(@(B(". <"",@\"$1!0>TNEOTC6K-1P.XUV8SVL/(
MK5JZMN=FAKM$20;K;T(/1D\-\?@G]G_RJ9L0RUYGPSQNCE8<.:X8(*#S1$0%
MN])/_P"KFO!OPR("?Z._Q^G=6D7K#/+ V5L3RULK-QX_";D''K 0;^UK<-&C
M6T[3&5K-9C1)+)-!O=)*>9 <.  X#AU+)M:S2EL6+PE:+,NF"#<;&0!,<,<!
MPP &Y/8HDB"5RS:1--I<[K_V&A!&Q\/1NWI'#QCN\,<22...7F7K!KK+M%S'
M7:]"?OJ6>3IJ_2M>'D'AXIXCECAE0]$$FLZS!)[KR-L2.>^NRI6WV!I+-X%W
M!H  X'AY>M=*UK3AI&CQ6)0YD5MTEJONNWG D#(.,$;K>W/%1Q$$SEU:M!3U
M9@U"M*^:$QUXJU4QM +AD$[H.=W/;U\5J-=(JZ;INF?^-"UTTX_!>_&&^<-
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M^]:_XB+\@)WK7_$1?D!!\Z(OHOO6O^(B_("=ZU_Q$7Y 0?.B+Z+[UK_B(OR
MG>M?\1%^0$'SHB^B^]:_XB+\@)WK7_$1?D!!\Z(OHOO6O^(B_("=ZU_Q$7Y
M0?.B+Z+[UK_B(OR G>M?\1%^0$'SHB^B^]:_XB+\@+EM>%IRV*,'M#0@H73=
M"U/4G 4Z4\@/WV[NM_*/!3_9GN?15GML:T]L\@XB!GP!_2/7YN7G4_1!PT!K
M0UH  & !U+E$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1
M1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1 1$0$1$!$1
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MIN:?<LUH8&V:3I"!&70LE#G-#G-'WO#ERRO*_I#[UW2XXH:(;8>8S9I.^QO
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M9OQ]%*[&2.(8XCEY0%EZ!T$^A:K3EN5JLLSX7,,[B 0TNSR![0O;0H*^E:[
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MW!CCU!<>]S6?DNY\RY/>YK/R7<^9<@V^C/@=IE)EBSI<L$;R\MM9;)7)/'=
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MR(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B
MB(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B
MB(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B B(@(B("(B
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M(/45U6;K5AEK5[UB'^+EF>]OF+B0L) 1$0%]%4?]RK_U;?T+YU7T51_W*O\
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MMEC0-YP(QG/:W&0H.NP:XXPT\>7#F@F>E4HM-FUB@.BMNLPL=5/2]&)X][)
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*"(B B(@(B(/_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>g938159g61z80.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g938159g61z80.jpg
M_]C_X  02D9)1@ ! 0 #YP/G  #_[1-<4&AO=&]S:&]P(#,N,  X0DE-! 0
M    $S\
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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M*"@H*"@H*/_  !$( * #D ,!(@ "$0$#$0'_Q  <  $  @,! 0$
M    !@<!! 4# @C_Q !&$  " 0(# P4," 4#!0$!     0(#! 4&$2$Q01(U
M47&Q$R(R-&%R<Y&2H<'1%!8S4E2!@N$C0E-BL@<5)#9$TO#Q0\+_Q  : 0 "
M P$!                ! (#!0$&_\0 -1$  @(! 08% @0& @,       $"
M P01!1(A,3(S$Q1!47$B4A5A@:$C-$*1L=$DP4-B@O_:  P# 0 "$0,1 #\
M_5(  ##>G4>;N*,?"JP7ZD<'.MY5M[2C3HSE!U&]6GIL7#WD&<F][U&J<7Q(
M[S9FY6T%1/<4=2UOI5#^M3]I!7-%_P#[4_:15!G4M\DON%OQ=_9^Y;49J2U3
M37D/I%?Y2O:U/%:5'NDG2J:IQUV;MY8$=PK=4ZI;K-+%R%D0WTM  "H9
M
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MKYY9*,W,ZU\&_LGM/Y  $S4
M
M                 8EN9DQ+<P J6^\<K>>^T\#WOO'*WGOM/ 2,"7-@QP,F
M.!%G"P<B\SS]*^Q$B([D7F>?I7V(D0Y7THVJ.V@03/W.5'T2[9$[()G[G*CZ
M)=LB-W00R^V1@#I D91C@=_).W&H^8S@<#OY(YZCYC)5]:+:>XBQ$ #0-D
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MM3DY_P!]E^OX$1)EGRE*5*UJKP8N2?YZ?(AIO8O:1Y_:"TR)?I_@  8$@
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MSW)_)9"W (&J:@      $3S[X%I^KX$.)CGWP+3]7P(<:V+VD>9VA_,2_3_
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MQ%.9V)?!!  ;)Y4&SAWCU#TD>TUC9P[QZAZ2/:1ER9*'4BU%N0"W(&&>Q
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M>7>R"9BQV>)3=*DG"WB]G3+RLXU:O5KRY5:I.<NF4FSS17*>HK=ERL6ZN"
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81W]1NF(I):):(R:26BT-%+1:  '3I__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>g938159g74g74.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g938159g74g74.jpg
M_]C_X  02D9)1@ ! 0 #YP/G  #_[10.4&AO=&]S:&]P(#,N,  X0DE-! 0
M    $_$
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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M" #  I ! 1$ _\0 '  !  $% 0$               <! @,%!@0(_\0 11
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MGODV,+G[6LR7[G'& .5$5@UC<;UUGKJ&AD,EKIH>=LA<UQ_N\]N!W*E]V68
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M/^C0P^C2Q/[!P(&<?[I_-3Z&_ X!PV8X*B+J)#+IOJ+9M6F)SJ*-A@J''_\
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H"."JHB(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B+_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>g938159g75g75.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g938159g75g75.jpg
M_]C_X  02D9)1@ ! 0 #YP/G  #_[1#44&AO=&]S:&]P(#,N,  X0DE-! 0
M    $+<
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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M&R,<%A8@+" C)B<I*BD9'RTP+2@P)2@I*/_   L( +D!F $!$0#_Q  <  $
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M;R?P5Q$1$1++B7TF,)^NY<HJIK!>*9QE/KI#"H_1ES%)7Y6JL-G<75%/5O+
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M)KV'ZUYF.%K]K^FWYK2<<Z>4CY'UN%-$%:=V.%W:/0\NL=KK6CB^;\GS XK
MZ6A_:,D3?X-!/+@M]RUG/",PEGU28-J"=F:7F_/J6@>BV<./JKC=[*:(BPY7
MC5J?PU?/_6_%(\>S%08-%ZR1C\=3V=AW[KMF2:/]&9/PRC/,-.R,_@T!>V-H
MFV]E=1$1$1$1$1$1$1$1$1$1$1$1$10F<&QDN%PL2:F9X)8X!T3N05S/'^EK
M?'^O8!)X<XW:"2?2WJ;=UBT5=FS+ /UV#QX&[G3X8_UPO7PKJIAL\ACQ*)],
M]O))+N+?LCY_N6WX3F+"L8_Z*K$A/H&.'YA>O8,'!;\S=4.H@.,1<[^U90DD
M9&S67:'>^ZT+/V?\,PV@F@IJCQ*F5IC8T-(\UO<+GO3;)V)8OC@QNL:!2-J/
M'%[7N'M?Z'L2OH.$  !HLWT"O^B-X1$1$1$1$1$1$1$1$1$1$1$1$11D)#"0
MW4>RQ[:'!S=QV57MNR\7XA4D#BT:0U_<:;KR<3RYA^*"]51G5_5.GOV^:T_'
M\@4L+'3893U!F&X:V1W^:U$0YYIG.C@H*AD(X+HP5Y4N.8]A<EL1+H1V<T#_
M %R%8+\TXL[Q,*IIZEG_ (V@^W\BM_R5D2)SF5F-TDOUJ(^(UCG$>:_9=+IX
M6P/ B:&1B.P9_663$2?B%CZA7T;PB(B(B(B(B(B(B(B(B(B(B(B(B)8=@@ '
M 0 #@(HO'JK#FWO<*Q)AM%./MZ.GD/\ 7B:?S"E24D%,;4\$40[,8&_DLT-
MX 5;#L$L$1$1$1$1$1$1$1$1$1$1$1$1$1$1$14=PK1Y*DWX0J,X*NA$1$1$
11$1$1$1$1$1$1$1$1$1?_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>g938159g76g76.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g938159g76g76.jpg
M_]C_X  02D9)1@ ! 0 #YP/G  #_[0_*4&AO=&]S:&]P(#,N,  X0DE-! 0
M    #ZT
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M                  #_X3Z):'1T<#HO+VYS+F%D;V)E+F-O;2]X87 O,2XP
M+P \/WAP86-K970@8F5G:6X](N^[OR(@:60](E<U33!-<$-E:&E(>G)E4WI.
M5&-Z:V,Y9"(_/@H\>#IX;7!M971A('AM;&YS.G@](F%D;V)E.FYS.FUE=&$O
M(B!X.GAM<'1K/2)!9&]B92!835 @0V]R92 V+C M8S P,B W.2XQ-C0T.#@L
M(#(P,C O,#<O,3 M,C(Z,#8Z-3,@(" @(" @("(^"B @(#QR9&8Z4D1&('AM
M;&YS.G)D9CTB:'1T<#HO+W=W=RYW,RYO<F<O,3DY.2\P,B\R,BUR9&8M<WEN
M=&%X+6YS(R(^"B @(" @(#QR9&8Z1&5S8W)I<'1I;VX@<F1F.F%B;W5T/2(B
M"B @(" @(" @(" @('AM;&YS.GAM<#TB:'1T<#HO+VYS+F%D;V)E+F-O;2]X
M87 O,2XP+R(*(" @(" @(" @(" @>&UL;G,Z<&1F/2)H='1P.B\O;G,N861O
M8F4N8V]M+W!D9B\Q+C,O(@H@(" @(" @(" @("!X;6QN<SID8STB:'1T<#HO
M+W!U<FPN;W)G+V1C+V5L96UE;G1S+S$N,2\B"B @(" @(" @(" @('AM;&YS
M.GAM<$U-/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C O;6TO(@H@(" @
M(" @(" @("!X;6QN<SIS=$5V=#TB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87 O
M,2XP+W-4>7!E+U)E<V]U<F-E179E;G0C(@H@(" @(" @(" @("!X;6QN<SIS
M=%)E9CTB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87 O,2XP+W-4>7!E+U)E<V]U
M<F-E4F5F(R(*(" @(" @(" @(" @>&UL;G,Z<&AO=&]S:&]P/2)H='1P.B\O
M;G,N861O8F4N8V]M+W!H;W1O<VAO<"\Q+C O(CX*(" @(" @(" @/'AM<#I#
M<F5A=&5$871E/C(P,C4M,3(M,3!4,#0Z,#8Z-38K,#4Z,S \+WAM<#I#<F5A
M=&5$871E/@H@(" @(" @(" \>&UP.D-R96%T;W)4;V]L/DUI8W)O<V]F=,*N
M(%=O<F0@,C Q-CPO>&UP.D-R96%T;W)4;V]L/@H@(" @(" @(" \>&UP.DUO
M9&EF>41A=&4^,C R-2TQ,BTQ,%0P-#HR-#HS-2LP-3HS,#PO>&UP.DUO9&EF
M>41A=&4^"B @(" @(" @(#QX;7 Z365T861A=&%$871E/C(P,C4M,3(M,3!4
M,#0Z,C0Z,S4K,#4Z,S \+WAM<#I-971A9&%T841A=&4^"B @(" @(" @(#QP
M9&8Z4')O9'5C97(^36EC<F]S;V9TPJX@5V]R9" R,#$V/"]P9&8Z4')O9'5C
M97(^"B @(" @(" @(#QD8SIC<F5A=&]R/@H@(" @(" @(" @(" \<F1F.E-E
M<3X*(" @(" @(" @(" @(" @/')D9CIL:3Y3:&%H=6P@06UE960@07II>G5L
M;&%H/"]R9&8Z;&D^"B @(" @(" @(" @(#PO<F1F.E-E<3X*(" @(" @(" @
M/"]D8SIC<F5A=&]R/@H@(" @(" @(" \9&,Z9F]R;6%T/FEM86=E+V5P<V8\
M+V1C.F9O<FUA=#X*(" @(" @(" @/'AM<$U-.DEN<W1A;F-E240^>&UP+FEI
M9#IC-6%A-C=F-2TX9#%D+30P-#0M83AC8BTW9F,S,C9A-3(P,F0\+WAM<$U-
M.DEN<W1A;F-E240^"B @(" @(" @(#QX;7!-33I$;V-U;65N=$E$/F%D;V)E
M.F1O8VED.G!H;W1O<VAO<#HX-6$X.&4S92TR,&5C+3$T-&8M8C%E,BTQ-6(S
M-F,P8S9A834\+WAM<$U-.D1O8W5M96YT240^"B @(" @(" @(#QX;7!-33I/
M<FEG:6YA;$1O8W5M96YT240^>&UP+F1I9#IE9#8W8S%C,"TR8S$P+35D-&(M
M.&0U8BTX.#0S.#(V9&0R93 \+WAM<$U-.D]R:6=I;F%L1&]C=6UE;G1)1#X*
M(" @(" @(" @/'AM<$U-.DAI<W1O<GD^"B @(" @(" @(" @(#QR9&8Z4V5Q
M/@H@(" @(" @(" @(" @(" \<F1F.FQI(')D9CIP87)S951Y<&4](E)E<V]U
M<F-E(CX*(" @(" @(" @(" @(" @(" @/'-T179T.F%C=&EO;CYS879E9#PO
M<W1%=G0Z86-T:6]N/@H@(" @(" @(" @(" @(" @(" \<W1%=G0Z:6YS=&%N
M8V5)1#YX;7 N:6ED.F5D-C=C,6,P+3)C,3 M-60T8BTX9#5B+3@X-#,X,C9D
M9#)E,#PO<W1%=G0Z:6YS=&%N8V5)1#X*(" @(" @(" @(" @(" @(" @/'-T
M179T.G=H96X^,C R-2TQ,BTQ,%0P-#HR-#HR-BLP-3HS,#PO<W1%=G0Z=VAE
M;CX*(" @(" @(" @(" @(" @(" @/'-T179T.G-O9G1W87)E06=E;G0^061O
M8F4@4&AO=&]S:&]P(#(R+C @*%=I;F1O=W,I/"]S=$5V=#IS;V9T=V%R94%G
M96YT/@H@(" @(" @(" @(" @(" @(" \<W1%=G0Z8VAA;F=E9#XO/"]S=$5V
M=#IC:&%N9V5D/@H@(" @(" @(" @(" @(" \+W)D9CIL:3X*(" @(" @(" @
M(" @(" @/')D9CIL:2!R9&8Z<&%R<V54>7!E/2)297-O=7)C92(^"B @(" @
M(" @(" @(" @(" @(#QS=$5V=#IA8W1I;VX^<V%V960\+W-T179T.F%C=&EO
M;CX*(" @(" @(" @(" @(" @(" @/'-T179T.FEN<W1A;F-E240^>&UP+FEI
M9#HS.#4X-#-F9BUE.&,T+3 P-#DM83DQ-2TQ9F0P-V8Y83=A,#4\+W-T179T
M.FEN<W1A;F-E240^"B @(" @(" @(" @(" @(" @(#QS=$5V=#IW:&5N/C(P
M,C4M,3(M,3!4,#0Z,C0Z,S4K,#4Z,S \+W-T179T.G=H96X^"B @(" @(" @
M(" @(" @(" @(#QS=$5V=#IS;V9T=V%R94%G96YT/D%D;V)E(%!H;W1O<VAO
M<" R,BXP("A7:6YD;W=S*3PO<W1%=G0Z<V]F='=A<F5!9V5N=#X*(" @(" @
M(" @(" @(" @(" @/'-T179T.F-H86YG960^+SPO<W1%=G0Z8VAA;F=E9#X*
M(" @(" @(" @(" @(" @/"]R9&8Z;&D^"B @(" @(" @(" @(" @(#QR9&8Z
M;&D@<F1F.G!A<G-E5'EP93TB4F5S;W5R8V4B/@H@(" @(" @(" @(" @(" @
M(" \<W1%=G0Z86-T:6]N/F-O;G9E<G1E9#PO<W1%=G0Z86-T:6]N/@H@(" @
M(" @(" @(" @(" @(" \<W1%=G0Z<&%R86UE=&5R<SYF<F]M(&%P<&QI8V%T
M:6]N+W9N9"YA9&]B92YP:&]T;W-H;W @=&\@:6UA9V4O97!S9CPO<W1%=G0Z
M<&%R86UE=&5R<SX*(" @(" @(" @(" @(" @/"]R9&8Z;&D^"B @(" @(" @
M(" @(" @(#QR9&8Z;&D@<F1F.G!A<G-E5'EP93TB4F5S;W5R8V4B/@H@(" @
M(" @(" @(" @(" @(" \<W1%=G0Z86-T:6]N/F1E<FEV960\+W-T179T.F%C
M=&EO;CX*(" @(" @(" @(" @(" @(" @/'-T179T.G!A<F%M971E<G,^8V]N
M=F5R=&5D(&9R;VT@87!P;&EC871I;VXO=FYD+F%D;V)E+G!H;W1O<VAO<"!T
M;R!I;6%G92]E<'-F/"]S=$5V=#IP87)A;65T97)S/@H@(" @(" @(" @(" @
M(" \+W)D9CIL:3X*(" @(" @(" @(" @(" @/')D9CIL:2!R9&8Z<&%R<V54
M>7!E/2)297-O=7)C92(^"B @(" @(" @(" @(" @(" @(#QS=$5V=#IA8W1I
M;VX^<V%V960\+W-T179T.F%C=&EO;CX*(" @(" @(" @(" @(" @(" @/'-T
M179T.FEN<W1A;F-E240^>&UP+FEI9#IC-6%A-C=F-2TX9#%D+30P-#0M83AC
M8BTW9F,S,C9A-3(P,F0\+W-T179T.FEN<W1A;F-E240^"B @(" @(" @(" @
M(" @(" @(#QS=$5V=#IW:&5N/C(P,C4M,3(M,3!4,#0Z,C0Z,S4K,#4Z,S \
M+W-T179T.G=H96X^"B @(" @(" @(" @(" @(" @(#QS=$5V=#IS;V9T=V%R
M94%G96YT/D%D;V)E(%!H;W1O<VAO<" R,BXP("A7:6YD;W=S*3PO<W1%=G0Z
M<V]F='=A<F5!9V5N=#X*(" @(" @(" @(" @(" @(" @/'-T179T.F-H86YG
M960^+SPO<W1%=G0Z8VAA;F=E9#X*(" @(" @(" @(" @(" @/"]R9&8Z;&D^
M"B @(" @(" @(" @(#PO<F1F.E-E<3X*(" @(" @(" @/"]X;7!-33I(:7-T
M;W)Y/@H@(" @(" @(" \>&UP34TZ1&5R:79E9$9R;VT@<F1F.G!A<G-E5'EP
M93TB4F5S;W5R8V4B/@H@(" @(" @(" @(" \<W12968Z:6YS=&%N8V5)1#YX
M;7 N:6ED.C,X-3@T,V9F+64X8S0M,# T.2UA.3$U+3%F9# W9CEA-V$P-3PO
M<W12968Z:6YS=&%N8V5)1#X*(" @(" @(" @(" @/'-T4F5F.F1O8W5M96YT
M240^>&UP+F1I9#IE9#8W8S%C,"TR8S$P+35D-&(M.&0U8BTX.#0S.#(V9&0R
M93 \+W-T4F5F.F1O8W5M96YT240^"B @(" @(" @(" @(#QS=%)E9CIO<FEG
M:6YA;$1O8W5M96YT240^>&UP+F1I9#IE9#8W8S%C,"TR8S$P+35D-&(M.&0U
M8BTX.#0S.#(V9&0R93 \+W-T4F5F.F]R:6=I;F%L1&]C=6UE;G1)1#X*(" @
M(" @(" @/"]X;7!-33I$97)I=F5D1G)O;3X*(" @(" @(" @/'!H;W1O<VAO
M<#I#;VQO<DUO9&4^,3PO<&AO=&]S:&]P.D-O;&]R36]D93X*(" @(" @/"]R
M9&8Z1&5S8W)I<'1I;VX^"B @(#PO<F1F.E)$1CX*/"]X.GAM<&UE=&$^"B @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @"CP_>'!A8VME="!E;F0]
M(G<B/S[_VP!#  8$!08%! 8&!08'!P8("A *"@D)"A0.#PP0%Q08&!<4%A8:
M'24?&ALC'!86("P@(R8G*2HI&1\M,"TH,"4H*2C_P  +" ". 2,! 1$ _\0
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M8R/'LMIZ8+<=<[J,<3&!^C[ED#_+</\ M*CW >8OT>UHR0U[L9[?:/5CM=R
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M>G+,][:@ AIWV[?]/GNM+2R.XA\3C5,D8V@@Y2UKB#\0<WY?B*^A(&1T\<4
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M@DM<.RFW!;3@JFSZAK6ATDKB&, &&_=/?/NKA8S+B0=QC&>@79R;YR?EV7(
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-$1$1$1$1$1$1$1?_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>g938159g77g77.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g938159g77g77.jpg
M_]C_X  02D9)1@ ! 0 #YP/G  #_[1'\4&AO=&]S:&]P(#,N,  X0DE-! 0
M    $=\
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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MII'S/#IS",N[$KW1_+@\CE7$9!"I[!<-XO:@?8-%5T\+2:F7H@8X<#K>UO\
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M ^0,(ABS@O> < ?4X6F\-+--36F:ONA,ESNCS-,YPRX-R>@9.^ WI'V7<,&
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MW%WG5+B0?7I:,=@"!R>%V3VD-< -CNHZU/I74$>L3?\ 3$U'YDT/D21U+20
M,X.SF_VCW6.V^&LE=<8[EK"K=<:EAZF0-P((S[ @N[?VO52/!#Y3&L'3T-X'
MHO->+G!:K945U:]L<$+2]SCZ#Z<_11[H:WU&IM2RZPNS7-CWBM\)V CR/BQS
MD]#3VYX4GQ# (QMSSPK\HB*-O_$"Q[_#"\>5G+8W.V[CI=E=?I.2*6P4,D+@
MYOE-PX<<+/=[E#:;=4UM7(UL<3"\]7&!_P!\*/O#:U2W;4%QUI<0X5%2##2#
M@-AS@''.X:T\J4(_AV.^!RK^H+3ZEO-+8;34W"N>UL$#"_!!)) )VQR?9<)H
MW2#-1BMONK:..:JN#^ID,G$$8   WY/3GD\KO;/8J&T->RW4S*9KSDB/@'V6
MR;&6[9.-\@<+)CXL[<*JIU#U6"LJ(X('ODD;&UO+W; *,*1O^<#5;:XM)TU:
MW?T=N.D3S;_$0=R!\!& ..2MSXDZ&;J>FI:FAG=27>B/72SLX!V.^WJ&^BT5
MG\0:^PD4&NK;44T[!C\9 PRL>.WR=7;^Y;2O\7=*11?T6LDK:C_5P14LP<X_
M=FRV.A=3W;45152U=E?;Z$-!ADD>TEW/(#LC] NS9SDC<CE7IGGV5O6WISG9
M5ZAD#N?95R/5,C.$1"0!E4ZAC.=EKKI=J*U0/EKZF.GB:"XO<>WT7 5GB!<K
MY,^FT);36EOS5E0TQQM'<@.+"3G'"SV3PT9/5,NNKZR2\7,;M$A'E1_08SR3
MW4A4].V%C&L&&M:&CIX ' 69C>G(W^I53GLJCA$1$1$1$11_XX70VW05>(CB
M>I,4# #@GJE:#^Q*W?A]:Q:-'62BZ.E\5)$U^V/B#&@KI53N1VPM??:MMNLM
M96/< VFA?,2>,-:3_@OFRWV^U4VD:G4U]JZU\]TJI334=-.Z!TA#W@$X))&&
M^G<+K=#^&6H8J>*ZUNIJB"\31AF98'3/B&<XZC(#C&?3E;G4&@ZR"SW6OOVI
M[A7P4U-+.VG#WQ1$AI.[>L@C8;87/Z)\/*"[^&L%8(FBNJ'2N#S&' @2/ &/
MIC]%)_AM5TU=I.AJ::CCHO-;E\4# T _8#V[+JP,#!V;ZGU40^.;JB6Y:;IZ
M?)D;5MG#1OD@.''W76:(T;2V&RN8]C'5M3DU$TK 2<C&,GV 47T%_.@':UL4
MH<W^;)+;(Q\)D,AD :SZ89QGE:B\:5N/X2Q6J*]5L,U^DZJBC$KNAC'9+G$=
M6.2,C R2MIK'2-NTS?[/11Q,AI:_I8^NF<"_S&N+]\[[]('/=3?<+K0VBC_$
MW"LAA@8TGKE>&-( WQDJ.J;Q*EO&KFTEJ:RFLL+#+55<[^D!@+1D9  &^>=U
MYJ[45]U]6NMNC&S6^T!W3)=L.^+ R>C&,=AL[U78Z5\/K+IT12-HHJFX,)+J
M^=@?-(X\N+B"1GGD\KM&-:T##<*X#<E55A. _&!A1OXT:H=9;)%;Z:I$-77O
M$7G%V/*;R3^C2.1RK/#2T4\M)"^F9FV4N&TSG,QYY',P]W -/?ZE28UHP,!7
M$95.D*JM?D8P,J(-95<NM==4^E:"9_\ #:%XGN!826O^++6'&W+"-_7A2O2P
M1TE+!#3Q=,430QK ,  <?W+#3W"GEJ)*>GGCD>S=W00<?HO>#AN54(BT>J;/
M'?;#<+;,0UM3$Z-W4,C<$*+=)ZDOFC+4^R7FPW6L=2$B"6""21LK2<@##3CD
M[Y/"]L=KU!K^M@EU%326G3\3@\VXRDOG=G(ZR0W8$ X+3W4K4E-#1TT4%.&,
MIX6!K6-    ]EF;@.Z1N';Y1Y(:X @-'<J)+I4#7VN/X9YA%AL\K7U#@<MFF
M_*ST[/'=2U3,#&-;@ M;C;T69$18)'",.>XMZ?S%VP_51#JFXUOB%?'Z<T_-
M+3V2$@U]>PD@D;] (P#RWOV4HV.VTMJH(*.@A;%30L#&1@ =.!W7KED;'%*Z
M65L,;1DO>>D-]2?91+J?4]PUE6R6715/YE*T]-1<"SJB;Z].!@NW'YL\KIM#
M^'-JTQ%E\45;<#ASZN:(%V?;.2WOW[KMVL:UA#2U@/\ 9'*R,W.PVPKE8XAN
MY/2?[U@J*B&!O5.^*-@W+B1^_HN<JM?Z8I9O*DO]M\QQX_%1_#]NI=!05U-7
MT[9Z.:"I@(!#XGAP.>^R]<7R\85RQO\ A.0'D^V<+PW*[T%MA,UQK*:F8/\
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MP+SSP7-[%:1])+IBT0Z?TU_-OM<>J>I?\19G)+CG/H!QZ+MM*:?AL= R,/\
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2$1$1$1$1$1$1$1$1$1$1%__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>g938159g82c12.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g938159g82c12.jpg
M_]C_X  02D9)1@ ! 0 #YP/G  #_[1Y$4&AO=&]S:&]P(#,N,  X0DE-! 0
M    'B<
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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M*"@H*"@H*"@H_\  $0@$9P7[ P$B  (1 0,1 ?_$ !T  0 !!0$! 0
M       ! @,$!08'" G_Q !8$  " 0,"! $(!0@%" @% @<  0(#!!$%(082
M,4%1!Q,4(F%Q@9$5,E.AL2,S0E)4DL'1"&)RD^$6)#0U=(*R\#9#8W.#HK/2
M%R4F1,+Q561%)X24H^+_Q  ; 0$  P$! 0$              0(#! 4&!__$
M #41 0 " @$#! $$ @(! @8#   ! @,1(002,1,B05$R!11A<2,S0E*!D:$&
M0V*QT? DP>'_V@ , P$  A$#$0 _ /JD
M
M          0MB 2/ HYOF2I?,IREGV^)H]3U=6]S"E2W?,N9KLL[EJU[E,F2
M*1N6^R2FGE&-:W$:U.,HO,989D1*S&EZVB85+K@=QCN$\@2
M
M
M
M                                              ",O))'=DA",LE>
MTI[D[@4KVC.-PWA[FIU?45;0Y:<LU7X$Q$VX5M:*1N5G6M2\UFC1>9R75/H:
M'S>8MU'S2ELWW*EER<JGK-]6]\$XWPG[O<=%?;&H<\4]2>Z[*TJ\G;5X6\]Z
M<I*,6^VZ1UD7F*]QQ,<NYMGVC5CO\3LK?+C%]L%,T:U,+8-Q,PO9VPR4]MBF
M2\"8]#%TJ@0,D;$_(C)2Q'*)%>0V0MR'[ )3)1$24\@
M
M
M
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MVVO RN'[ZI>4)>=^O#";\2O9/;M>,]9OZ?RVX0011L
M
M
M
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M6Q3S+HPA*>1S$)K? Y2)E*J/0DB/0DD
M
M
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MC_.79YW\43V+5":G#;IV+V-C#QPZ8Y@70+J.B$>H3"0N@"Z
M         %,F]\&NU>\C:6SFMYOHC+O*JHT93ET1QVIW[NZT&D^2,MS7%3NE
MS=1FC'77RNT]3NJ%93J59SI=TM\'1:;J=*]34&XR752PG^)R\4L>LECNGT*:
M525M656G]9=5'HS6U*V\,ZQ?'[HG<.ZCU948MC<QN:$9P>4UU,G)S3&G9$[C
M:0 0D
M
M
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MN5),LVU15J?-'?.Z+R1S\PZHU,;,/Q">-B<+Q(2WR1M*5NB5T*>Y4NA(
M            #N!W UNO1E+3JRCG..QR='EE#,4MMGGQ.QU6XC;6LZDMTD<A
M3WYI/92DY+XG1CWVN7)&\D0JRN;WC"6SZAM^ME;$_5>.J9-9Y:S$<PWG#51>
MAJ#?U4C<-^'?8XBVG.SJ*=*IME.2QV[G6:9>1NZ//3DFNCV[E,M-3MET^3CL
MMY9L<XZAD]$$8NI*Z=2'TP%T(74"42@NI*\0A"8)("49&0%L!4
M
M
M                                   $9#(E)1BV!$VHY;\#F]8U-SF[
M>WZXWEX%[7=2?+*WH/,WUDGTZFDA#DCRKZSW;-Z5[8[I<N2TY)[:^/E,$E'$
M5A$CW EM6L5CA*Z  )  ! 00$0?&DKJS$NN92YNRW,O&2)X47S="])YU#GZB
MDWKQ/A:H58S2<=G@N]M]VS$MJ*<YS6RR\&6L)#)')TUKS7WP! E%)='/R
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MC+*_JV%+S<(><BFWG..K.ATK48WK<<2C)=4U[S*^*8Y7Q9XGVSY;8 &;H
M
M
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M!@GJ0F2)
M
M                                          AM+N!(&5C)&5X@1/L:
MS5M0A:4FLYJ26R7<OZG>0M*.9;S?U5XG*5)SKU)5*SYIO[C7'3?,L,EY_&OE
M3Z]6I*K7EF;^XGN.P?0TF=^$XZ16$@+H"%P      !(@#L!KDB/^2)_4GGP9
MB64^1.$EA-[&;M@Q9+GNDDL**R:4GNCM<741S6\>89(!+,W;',(2)([!$"0
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MESV=T<UP]<5%4G0FW)1[G2QZ>!A>O;+;%D[XVJ")ZD);E5T@ )
M
M
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M58B?*4"$257  !'BBEIJ490>*D2H==L?$F)TI>D6XED7&JUKBFJ<%BICUO\
MG!AT(N$'%K?NRMI2:;V:[^).6\;[-="=?3+'CM%MWD^),>Y$<;]O84U)<D<]
MB.V6TVK6-RJ?7/8B4EWV131J1JIX?3Q+E"C*\K*E36=_\?X%M1\LK9JZ]G,M
MCP_:2G5],ELFL17W?P.DAT]I;MZ*I4U%+"[+P+R3[KH<U[=TML5.R-)7<D+H
M"K0
M
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MJ4ZU)2IM2B_ IEFWROTD4U[?,+Z1(RB,F#N2M@1DA2 J 3R,@ ,@
M
M
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MDA)815**J1:DLHQJ$5&NXK.%VR;1S&G!;>+)W?;*)(!B[8WY2@02$@
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MTQ,3XE6GN20FFLI!,A:%29&2>B*0)R24O8)@5 90
M
M
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MS+YNO8O2>>7/U$?XUWJLI[#P+=!.-**;RW@N=-F1:&F&TS7E)")>P[E8:0
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M1DE$+    $9 D$)^(R!((3)
M
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M&S2<[E1;C+V%Q;@
M
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M>'L<M\<UEV8<];Q_+8 MJIE9SUZ%2EMUW,W0J!"R2
M
M                                     I;*GT*6!'O(RMR99P6Y_4;P
M(-Z<=KUQ4=_/SF\(XY?BD46]K0N:%.FZBC77UMF\[_R)=.6H:M)M<U&+]V-O
M\"WJ,)+49^86)9333SG8[JSN(K$O#OO<WF-QMN]+M+"C<2A#>LNO4W<Z4)-2
M<$VNYP?GG&K4JS?)5SGQ.IT._E=V,I5<<T=NO78QRX[1S,NSI<]+>S6GA?\
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M+E;V:\-\&;S=EN<<Q-9T]2LQ:-PK0*5WWR5+H$H1(0
M
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MG'9@"0"!PA) '0;A/$#Z,Q[3>=5_UFB_/:$G["S9_4D_&62\<TERY)_S5A?
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MI)Q]YSVI,.RF6M^(E?B24Q]Y)1JD$9# D$1)R  R1D"0%T
M
M                              ?0@"BN\4VWT1Q&H3I5+^56A*<XY7-+
M.5T['0<1:A.TC2C3674;7X?S-'J-O&WNX*ETJ)N2\,'3@K$>?EP=5?N]L?"_
MH<HRU2>'ZS73Y&[U&[M[)QJU8Q=3HL)9:_Y1J.'\0M[N22<H/"??IDTU>YJ5
M;BI*JGOEI/MN3Z<WM,?3+U_2QQ]RZV-2CJMA*<8YBVTTTMO^<GR-Y9^'IZ-Q
M/.=*AYNUK)<KC'"<N_9'UUP[15'3HK'YSUW\4CB?+%9:75X;NZFIPBE"#:>R
M:W71X+]/?MO-'1.XB,D^7QSW!74Y>:7)]7.Q;9W^&\*@0NA)
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M4<2O[:+PXMRSGW'<0245C&"F6=1$,L/NR6LJ@\IE1$5C))@Z@
M          (ET)(GT Q[RG"I0G"I%.#6&FCRORA6&G7.E7NFVMU9VCK<SJ+F
M4&\Y3SA'INHUZ4+::K348M--Y/DSRW5;:'$M6II]_5E4;Y9055[+FGG;Y'9T
ME9WMQ=1'?:*QY>>:M:4[*_J4:5:%:$']:G+*ZF$B6VVVWNRF+RV>@Z(XC2H
M$      &WX5UAZ'J]*\5*E5Y.TX<WRW1J".;L3'"+5BT367J_$7E9J:AH-:T
MLZ-2C<5'RN;ARKD::>ZGG.YY34DZE24W+FG)\S;>[9&3*TJQK:C?4K6VA*4Z
MLE'"67NTOXB%,>*F&.'IGD5U*[E6O[6O<U?0X4.9*4WRP?,M^N$=A;^4NRK:
M7JEK5O';U*+Y*:E-1YL2PVO6WZ'(Z_>V7!W":T>RY9:E7@O///K1RLOV]4>4
M3FYRE*3RY/+)F(\2XL>",UYR^(5UZLZ]>56I.4YOK*3R_F6\[=_X#.""(>E$
M&,^\GHGCY()[%.<@7J%S6MY<U"K.#\82:/8O(CQ'7JUJMA>7+<81YH.<WEMO
MINSQB*.E\G]]&PXIL:U1M4E)\V^,^JQ$;\N?J*1-)GYA]:Q::C)9PUT74C]%
M8:C]Q8L*RKVU.::Q))HNU)-0?*LGG36(O*U,G=BBTJ:E2FU+>FC>\*S_ ,VF
ME)R7,^^>R.;H4ZJ;>([^*-CI&H>@UI4ZL>6$I9YNB[?R+Y:;KPXL6:8R=UN(
M=E'.2I&NT_4J-W*<(3BY1[+P,U27ZQQ3$QP]6MHM&X7<#!1&67L]@GMCJ0LK
M*2$VLI[(AO&S[ 5Q9#*8OP:QX$YZ]P*X] 1!Y1(
M
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MK\#Y2OKRI>WE6O5;YZDF]^VYU]/B[?=;Y3$]]N/$+*?8 '6V%T)(70DA
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MB-+1,3X7 4KH,X(2J!">S$>X$@
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M?<V2Z==_8<EH[9U+OI>+QN%78F/<A="%L1*RL !(
M
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MJ<?<BI[/JLG*ZX\*DR<KQ*-\]AVV KRAE>)1V"6! K!&1D"0.H0
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MLN6,O7?LRB<ONC;EQ1Z>28^&[0RBS1K0K14J4LQ+OPV.9W1,2K
M
M                    $/H4R?@5M%/*!1/UH89P.A7%>WXRNZ'(U2<(M-_[
MQZ _ QH65"G<2K*"\Y)8SN:4R16)B?EAFPS>U9CX9$&\$OJ0LK"17VRS/;98
MN9JG2E-_HK)XWY:N,KG2^'F[6CRQK3\TI9\8SW^X]CN*?GZ,X=FL'B7EIX6U
M/4]#IVUE052<;I3@N>*S%1FN[]IU])%9GGRY.IF=QO\ 'Y?,UQ<5+JYK5ZKS
M4J3<Y/VMY*#*U33+K2KVI:WM-4Z\6^:*DI8W:ZKW&)MC'8]"&]9B8X2"$22
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MS^K3Y8[=.ZBGU1T4P1_R8]^3+^'$?R]\XE\HND:,JM/S\*ES3Q^3RTY?<9/
M/&%#BBA5JTH>9E%XE%RYL/"]GM/E:3<VVVW+V]SU_P B7"6M3NWJ5":HT)4]
MEZLN9-Q?=[&DTK6.6=Z3CCNWN7NE>:INFW^;YDVA<U97$%*<N6$/JQ7=%=73
M:M"TA4NG^5;44O;CV!9C27-T2PSG]LQN&<=^6T]_'#>\+O\ S+KG,F;M;/V'
M,\*U,UJRBL06,>_<Z5[)O.QR9(U9W=-;>.%P &;<
M
M          %+3P1ROL5@"G&/>1E]RID!"EK!C7]#TBVJ0B^63BTFNQE^WX&/
M>U5;V]2HWA13;$;W&D7UVSM\R^7;A.STZ,M1N+F;O*D^6*Y5NO6:1XAT/4/+
MIQ9+6M=JZ?2Y9VUM5;Y^ZDG../=N>7K=-/?WGM4F9B-N?!75>/!@DCW!=2S9
M( (0  "$&2 "]I#1)!*19P]SK/)II?TAQ+0J5(J5"W?G*F7A8Z=?B<FO>_ ]
M.X!L:\N$-7J6M+S5Q.DXPK2RD_66V7L36-RY^IOVTU]\.1XYU-:GQ%<UE&,8
MQ?FDD]DH[?P.?+ERI*YJQJ[RYFI>_);7OZ$>6M*]M8B#/B5;.)3()YC@+MOP
MYQ%?Z!5D[*>:<GF5-XP^GL]B-YJOE"UC5;>5M0HJBY1Y6Z7KM_<<9C$&UU/8
M?)KPO:VVG1O[FFIUY^M%R[)I/^9EDFM(W*'D56C7IR<[BC6@Y/+E.#666\['
MT=J^AV.K6KHW=&,T^DGV/G[6K!Z;JMS:2S^3:PO8]QBR1>.$L'(3ZY)(DUE8
M9J&/9L5=%NR,K#P_@43>%CKE$;T.EX6X2ON()J<4X6N<.>4G\F=+?>2ZI3MY
M5+.ZJ5JWZDE&*^9WW!\+:EH%NK3'+RIRY=_6PLF[[I9;DSCR9[5OJ$Q&X?,M
M]9W&GWE2WN:?FZT,97O6?XGHWD,L)5>(*MWR^K3ING\7C^1K_+#&@M;M94L>
M><9>=\>D<?<=]Y!M/E0TVYK5(/\ +2C.#?=8.NL[KMR]3;6/7V]>@L0AG;"Q
M@J(Z-_<2NAYT\SMOCKVTB  $+@       ()CW([!/&66^5;_ (S*S2WK57_6
M+_B6+?\ .5G_ %B^3?SIET\>S8 "C<          $!_=C!)!/])@6ZQC'M$<
M]$!T^KN-<:1OX.S6.O0U7$6MVFB6%6XNZL>6"]5-]=TOXHR-6U*WTRSJ7%U6
MA2C%+>4DEU]I\P\?\97'$U\^6<HVD4E&.,9VCG;WHWP8O^4L+VF_LHQ.->*+
MKB;4G7NIYHP;\U#&T$\>SV&ET[4+G3[R%S9573K0::DDGOG/?W&,^A$5@[%Z
MTK6O:^BO)+Y697+HZ=KE5*OF,(SQ];ZJSLL>)[W:7U"M34H5(M-9ZGY_4:U6
MWKPJT9.-2#4HR79H[;0O*AQ#I=*I"5T[GFCRKSNW*O9@YLG3UNK%;4_%]K0J
M0DGRR3]S*TT?)W#GELU6TN81OHPE;[\TEEON>R<(^5C1-:@W*YIT9K"Q5:@W
MU[-^PY;]+:OCE,9]?G&GIO,B<HPK2]M[F.:-2$E_5:9D-I+JMSGF)CRWBT3&
MX7.9>).46EA+=KWEJM<TZ.]2<8KQD\$:WX)F(C<LGF7B,HL4ZE.<,PE%I^#*
MXOW!,<KN1DHWR2!41E!-$2V6<@'-)',<8<4Z?H>GSJWE>,7MA>.Z7\2QQQQ9
M9\.:75N+BO"#2;2RN9^Y9W/D3C;C'4.*+UU+JJU0B_4IQZ+V_<CKZ?!W<V<]
MK]\]M5/'^NT>(-=JW-M1C"DWM)-^MZL5W]QS6$EL1MT2"ZL]&$TK%*]L"S@1
M6,D@+@ (0          ".QL^'M:O-"O8W5A5=.>RDL+UHY3QO[C6E/?P))K%
MHU+Z1X2\H^FWUM1IW%PH7#BE*,EA)X67GWG?6.HVMY!.A7IU,_JR3/C%2<4^
MI[%Y!KVK7O+NA5JSE"%-.*Q]7<RR8ZV<5J6Z?W5GA[NN@?3)I+_7J5CK%K85
M7FK<J7(VNO+'+_$W5.7-!2CWZG):DUY=&+/&6W;'E*[>TIKR<:%9I[J+?W%6
M.OAUV*9Q4Z<XOZLDXOVY\2M.+;:9HF:</#;3C^XH\>7<;I3=M!N@J5.#GNJC
M];99S@]IT^Z=U0C/D<8SBI+*QU.#CP;8:#Q!<:S4V4VYM2PH0]9RYL^)W.F7
MUI>6[G:UH58M8;IR4E]QV9(B:\/+QWKZVJ\,_P#!$&+>:C:V%/SES7ITX+HY
M227Q.$U[RIZ/IT:E.%7SM5K9TESQ^:?M.:F"TN^V>/%>9>ASG"*;E))>\Y_7
M.,-(T>A*I<75/\GUC%\TML]E[CPCB'RI:SJ*\W;25K!;<U/.9+VY.%N[JM>5
MY5KFI*I5ENY/JS>F&L>4:R9//$/6^*_*_6K2JT=&A%TI9Q5EE-=>S7N/,=7U
MS4-8J<^HW$JS73*2Q\D:Q+8&\1I>F&M/[2UEX["G3YJJ4/KMX13S;_@=1Y-=
M+IZOQ?86MS%RMVY.32Z-1;7WH3/"]K=M9EZWY(O)-;W%O;ZCJ].4JK?,HRVY
M,-K"P]^B/H'3K*C8P\W1ARC2;6-M9PIP227\S,VRVENCR\V:;SKX1BQ\1:WE
MHN)ZD)6].$_KJJG'WX9IDLI-K+78WG$MNIVOG<N,J?K97L3-#3DI04^;I%-^
MUEJ?APRF8C+/=],_0*KHW=2FMXX3_$ZE+,%G!R.DU(T7<W%3/+RHSGK\%%^;
MC+*_JLC)2;6W",&6M*\NCYEGJ')(T.AW]>[52=>,8Q3]7#ZFUH7$*O,HR7-%
MX>YC:LQPZ<>2MXVR7))9(\Y'Q-3>ZO0MJOFI.4F_U5DT]?5+JO.?FN6G#.(M
M/?!:N.;*6SUKXY=>I)]R<HTG#U>K7MVZLY3:DUEFWR\LI:.V=-:6[Z]ROF1.
M2CIU&5S;$+0K!"9(
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M8C<NVF2+3-8^%PJ3V(3RMEAC#\2K14
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M1\<^6S2:FG\63JN@Z=&M%*#RGS-)9_$]'I;[C4N6?9DU]O/EU9!"\ =C9+>
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MIIZ90P]U%&PBTTLG':-2]+'.XY7  0L
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MFC]4DBG]7=Y),74 $/H!C752G"G-SEV.,A-3KW'(_5523^\W.N:97O;I-/\
M(+'?H\O?[S4WEI2MYTH0Q*I%^L^[1TXHB(>?FM><D<<1_P"Z<$/99)36,KIX
M$96,I)>\C3L[HCF8!E=RGSD$VEC/]7<NV]I<W<N6E3E&/>36"\5[?+.<M?\
MCRQIUDJN%TS@N*,JU6-.&V>K\#;3T+FHQA"<DTTV_%^)'H$=-IU:]6K*I-1P
MN;'R'=6?#G_RZGN\--).G<3IQJ.?9+&-^YT>BV5:WM91KO=O./#<T.EP\YJE
M&75.;E[LY.V7U5V*YK:X1TE.^9O+A[A.C<U:,7O%QC[LC>G.=*JMX]_$WM[H
MWI%SYW+B^9-^W!3?Z,J]6,\M8ZKQ+1DC6D3BR1,S"QPS73KU:*SC>:^Y'2<N
M=S"T^QIVBS3BDVL-^PSN5/?<Y[SW3MV8*S6NK>5P %&P
M
M    1C!( I<<FLUO2J>J6=2WK[PEGX;-?Q-KW(\28G4[A6U8M&I?,7ECX0UG
M1K&M.SU"[KZ?*3<J.7*,8M2[*/L2/"I>JFGG'='W7QG9SN+"I!6L;F$UB5-Q
M4FUA]GL?(/$'!.M6]S=5?HZM&BIRDI*.R63U<.3U*_RY,<QBM-)XAZG_ $<;
MU7&FWFG5)4W"#4L-],N;_@='=>1;37K=QJ52?/1EOYC*Y=HXZ<O\3YUX5U^^
MX:U)75A4E&2RI4W*2C/9KUDFLXR\'UIP%QM:<7:.W0ERW"@^:F_K1>98SN_
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M*DG2I)<L5)XW2SLW[$<3[<'H4I%8X8XJ[]\^4]MAOX@DNW4M$I8)!"!@ D
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M"GE?7;)'*\;O<K!5=0X-KL3RR7=%0
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M%&SKXJ7T^O-%/&)YW^!Y(VGGQ[E+RF_U@C9U8\<4\"V*@0@T2 "$
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MG\D<;]<*V_TIS^D\D>;F>=]SNT8>EVT+:UA3IK"BL8,P[\E^^W<]/#2:4B)
M 4:H"#9"$"4^I&=LM$-;,Q-0NE:T*E62S&";Z^"8B-RB;=L;EE2>VPCNMSGN
M&N)[37)5HVK7-2G*$MWU6,]4O$Z%;;KN3:LUG4JTO6\;JJQX;$8>XW)1"_A4
M  &/$C!( C")W
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M*:L<7W?]F'_"CE3K/*@L<87?]F'_  HY/N>DKB_"$@ A<
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M:
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ME:PMJ$*=.*C&*Z(R4L[,99*/,F=R[JUB(5  )
M
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M:*21-.G&$%A82[%:\3R\F2;SRTQ8^SGY58P@T029M$@
M
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M65MT*RB.[W*RC<
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MQ0 #*\1E>( #*&5X@ ,KQ&0      !D97B  RO$  ,KQ0R  R
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M59YO#I@VKCB:[<EL\Q?^';)8*D6Z<E**:Z%SLC'PZO*4B2$]B0D
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MN-7PQ_JRA_9-I<_F9^XU?#'^K*']DO'XRRG_ &0W"'B0B?$S:B[$D+L22
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M;6E;04:<(KW(R$O<<]K;GAZ&*G;'/D779(+=CH/:4:I[DD+<D
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MLKBYJQ<8SI-2BDTUU33.EO/)/H5P\\DH+PIXC_ T]]Y&=*<6[.I7C+^M//\
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M^E,^I_$Y^H\0SK_LG^E2Z$=R5T([G)#:4@        #L!'B6+'_1E[W^)?\
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MY6W@6K.F6:G?32*4E4AS=RI/*>3&3\Q5W^HS(77;N3>-*X;[XD1)'1@HWE(
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M?ZP](I?K!VU)=((>CT?U$5]CHWG^CTBE^LQZ32_68]'I?J(>CTOU$1[#_/\
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M*8I)E>#EF=SMZE*]M>V$(E!(G!$+$>@"6
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MQV+J+%U^A'QDB]8W+#J+:HKMX\M*/]G!<$5B&/ $6G<M,5>V(@)1!**KV\@
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M.U>E+3:(G;H(]%C<NEN"PD7#B>I
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M)2O<\B!$5LNNXQ[3ZEPI!" 0D $   .P\D7_ $^TS_Q/_2F?4Z[GRQY(I?\
MU]I:6,_E>O\ W4SZAC&X[3I_%&.>-Q#";37).H^%\%C%S^M3^0Q<_K4_D<W8
MGUK:_%?!8Y;G]:G\ABY_6I_(=D?9ZU_^J^"QBY_6I_(8N?UJ?R'9'V>M?_JO
M@L8N?UJ?R&+G]:G\AV1]GK7_ .J^%W+&+G]:G\ABYP_6I_(16/L]:_\ U7_$
ML6/^C+WO\1RUW!YG#Y%,*5:,?5G#'L+1%8B8VQO>]KQ;M\,D%CDKX^M$APK_
M *\/O*]D?;7UK_\ 1D Q^2OA/FB56TI2<N=IM/L.SC::Y[3.IJOH$=B49PZ
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MAFZB8W6KGK6<W-O# L-,M[*FU0IJ&?#.YLEA(=B3AF9GRZ:UBO$*,996 0L
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MA0BE]QEHIZ%:Z'G3S.Y==8B(U"/P) "0
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M>955W_Y8F=0YIF;VU#;TTE KQX!+$2I]#F=6N$+."I$?HDH)
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MYNI*TA1FWENG""__ !9VTZJ)_)E-;T_F'QIMG<-'U#<>032)MN-:O'^S*/\
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M%-+<+L28.I&,,B7U)$D2^K,#2Z#]>\_VB?XF[-)H'U[W_:)_B;LM?RRP_BD
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MM6]-4Z,8Q7181>B\IG-:=SMOCKVUB%*BRI+"V!*Z$+FY&"0!&"0
M                                        +5S^9G[C5\,?ZLH?V3:7
M/YF?N-7PQ_JRA_9+Q^,LI_V0VZ"[A$HHU^3&5@C'8GHF4I@2T]RGE>^659PL
MDIY&D*4MB>4E=2.Y"4$K8D@D3'N21'N2                       !V IQ
ML0TVBK!#6>@%'2+\3D-6O;M7-2%11A23:3^/O.OE+#Z=RAT:51YE3B^^Z+X[
M=G,L,V.<L:B=.%IU*\ZBE;SG4FNW-L;>G97&IP3O82ISI],/9Y__ $1T4;>E
M%OEI1C[D7%RI[;&ELW=XACCZ3M_*=PYNMH7)3<[>K+SBZJ3RC7)2C.4)KUUU
M.U45N<[Q%0C3KPJ0V>R?S&.\VXE>U/2]U6M[,L4_])E_9_B7^^/$LT_]*E[(
M_P 32J,\^%WL.P"*2Z(G@:YEA[HQJEORYE2>'X,R1AOH7K,PQR8JWXF.6)Z5
MRP<7%\Y5"I72YI0VZEYTX.7-RY97'&YIW5^7/7I\OF;,65Y%?6A(A7U/&6FC
M*4(M_53*94:51;PP1W4^D]O4QXLL*]BUE0E@R*<U4AS=$1&G&,&N58,:TFJ4
MIPD_5SL3JMH]JL7RX[17).XE#H3=TY8S!SS\#+J/$6DGGHL>)5OE8WBT32CS
M7EM#JG46?F5F9M/*8Q5Q1,UG>W1Z+:*C;Q;QF6[-IVPBBE%0BH^PN/H<<SN7
M=2L5C4"[L+=$(JZ$+HP1+ZDBHIE]20&ET#Z][_M$_P 3=FDT'Z]Y_M$_Q-V6
MOY98?Q2 "K4                  #JB,$CL!2MV&GA]"4L$M90%$43C#)2:
M&/$@4\B?5%#HPEE.*^1=:"1.Y1J&+.QMY/UJ4'[XHAZ?;8WH4OW$9>!@GNE'
M97Z8U"VIT,^;A&.>O*L%^/3V$X8B^N2$QJ.(0\(CJL^#*GN0E@):W5[-W5I)
M4\*I^BWV.8K0J6]5TZRBGXXZG<KHS5:Y:PK6TO47/V?Q1KCMKB7-FQ\]]?,.
M=73W]/:/F6Z,N>GL_675>!=-9KKPOCM%X[H" "(7UOG0TO!%/)%_HQ^14!X5
MK2L;B8,+.RPO82B"40F(B.(  $@               !!)"! 8M5.%TIM;&4L
M9+5Q%RI-=R]?.G+U-)M3?TNIIK*Z,DLVLLTDNZV9=0M&I;8;]](E("!5HA[?
MQ,>MFI4C27;J_O+\Y*$9-]"U;1?+*4OK2+5\;<^:>ZT4A>]P'0%9G?+HK&HT
M  @CP=L%BJ_\YH^S)?1CUO\ 2:7Q-,7Y.?J?];)[C RD1CN4;Q''*?@$4D]A
MVR;K'R=.P"&7XKY"*SM$S%?E34^I)>PHL_\ 1H;=BJI./)-MKY%NRFI44NZ+
MQ'M<_?7U]_PR",@%'49 !!H& 'C#;9.B9B/)V>39\.6ZG4J5_!N'R:-*KB&'
MU>&=!PI6A*TJP6TO.R?X"\:JY*Y*7R1$3PWT>GN)B]]B$MR4NYS.Y)*(6.Y(
M                                                     !:N?S,_
M<:OAC_5E#^R;2Y_,S]QJ^&/]64/[)>/QEE/^R&W1/B$/$HU$,(+L2 P1@D ,
M;#  !(-  $L                          !CVD89( IY1&.^Y4 *>7VCE
M14 *5'9Y-%Q):U*D(U:2YU##E'.-LY;-^6JL%.,D_ M6W;.U,E(O74N*A)2B
MVO'/N+-//I,O'E_B;74=,J4ZLJMM%-2WFF_F:>C-.YGS>JTL-?$ZJS$^'#DR
M3'%H9.S6,[AK#P0I1Q]9$I+&RQ["DQ+LBT3'D'3IU8"Z/&/'?81"9M$5W(WC
MIXX&7W99\Z^:4DDH)\NS[E[JDUW)FLZ98\U;SJ#'4=\$)X#:SROY]BM?Y:]V
MHY3C#W**E*G4?KQ^\N48U*T_-T(Y?B^AET](NI?7DH^XM$]LL+7K?B(VUGFJ
ME-_DYYC^K@N:=6;U&DIK$E-/Q[FYCP_.2]:YECNN5&;8:/0M9<V,S3ZDVS5T
MPCI\FXUQ#8T\M1SL7DL%$5AK)6<CT8A&"6L@!*,8(E]2144R^K,#2Z!]>]_V
MB?XF[-)H'U[W_:)_B;LO?RRP_BD %&H                     !@ !CV@
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M[$I[&OTBZ5S:1;ZXP_>;#&QR3&IT[:6BT;3V)CT(6Q*Z$+
M                                       "U<_F9^XU?#'^K*']DVES
M^9G[C5\,?ZLH?V2\?C+*?]D-NB?$A$HS:_(NQ)!)(
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M@?7O?]HG^)NS2:!]>]_VB?XF[+7\LL/XI !5J
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M_<:OAC_5E#^R;2Y_,S]QJ^&/]64/[)>/QEE/^R&W1/B$/$HU%V)(78D
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M_P 3=]C2Z!]>]?\ _$5/Q-UXEK^66'\4H %6H
M              $-9) $**70AQ3R5 #&N;6%:C*G)-IG,7FEW%"4Y4H.I!2>
M(I;X.P+;CEO9EJWF&5\47Y</SI3Y9IP?A+J3"$KBM&A2:;EW73Q.JN=-HW*?
MG%\MB++2Z%HTJ6<KHV\FOJ1ICZ629U/A=L[:%"C&"6QE*"P/:B4NQA,[=58[
M8U"EPBUAI,Y[6].Y9NYH)Y75+NMV='@HG!2BTUDM6W:I?'W1IQ,993?=]O!E
M2Z&5K-I*UN?.P_-S>_L,0W\QMECOYK/F D@$-XY2""0@    @">Q">SR!U)T
MB)CY$T^_4II4JE>K4A!K,5E+NR*M2-.+WW-UHVF-5(7567K-927@3OMCES7_
M ,ENVL\-2J%WS*#H23?236QM;30HR]:ZG)R\(O"-\HPSE8^14L+ML93E^FE>
MFC_E.VF?#UNI94JJ7AS?X%<M$H.FXIS]^3;]]NA.,LKZEEXP8_IR]71;B$OR
M-6/+X33;,>MI-TX\K<6O8F=?A8>>I&%C99)C),*S@B>(EIOH6C4MX^<YXRQV
M>#37MK5L9XDG*D^_A_SD[%[)IKWENXMX5Z3A)93Z"N6=\EL$:]OEQWZ.<Y1/
M7#?Z7@9U31*]*35&HN1^*R1/1:\:$I*:J5%NDMC7=95]2_;XY:Z4^6;@NF,M
M^!1-QDXS2YXQ>\4;C2M,K.?/=*,5C'+C<L:O8.SGYVBLTNLO86BU8G3GO6UJ
M[GPWNF75*O0BJ;2PNAG8;1S.B:?<TZRN'42IRWY<'3165N<UXC?#LP7M:ONA
M6HI$2@GW94"K9'*@HI$@"$B<  1RHCD6<[E0 A128Y5DD 1RHB:V*B)+.P&K
MOM+MZT6Y)QEXQV9S+CYNM4I9^H\>T[6KO"6>W0XV[WU&XQ^MO\C?%,SN'+DB
M*VC2E=1XD8RR26\QH)HU:EK4\[1?O3Z$!=<]D6I/PRRT[J]T>76V%PKJW55=
M'X>]F:C1<-5HJRA#NNJ^+-Y'I@Y[1J6N*W=7:2$\LD(JN,#(
M                                     M7/YF?N-7PQ_JRA_9-I<_F9
M^XU?#'^K*']DO'XRRG_9#;HE=R$2C-K\A)!)(
M                         %,NY40P*%U]I+6S\2<(IS\P0Y'5H>9U.;QA
M5/6S[V8TXQELSH=?MHU+6=3]*$>;Y)G.TFI03]ATUMN-N2,<1::V50E5@N6%
M1J/@6U266Y9W]K+@ZD]R\8:3!A>'4VW"CSZ5%=(R27R-3LNIM>$U+-WE8@Y+
ME?BL$6GV2S[8KEK$.BBNI7V*8DMG,[!$D8)    ^A;JO%-EQF-?34+><O!9)
MA$SJ&OT!;WG_ '\_Q-O'J:W0X<M*I+]>;E\S91ZDW\J8_P 52ZL#Q!5H
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M=5+"G%/UH[/YD9*\;88MX[31M]R>Q1%MR]F"I,P=2-RH-@
M                                  "U<_F9^XU?#'^K*']DVES^9G[C
M5\,?ZLH?V2\?C+*?]D-NB?$(>)1J+L20NQ(
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MEJ^=LLD^W7VSM,IN%E13ZJ"S[\&4MF4TH\D4BO&Y$SM>L:B$Q[DA A8
M                                        !@  ,  ,(87@  P8MQ;P
MJPDI0BT910^XCA$QN-2X:G&5/-*:Q.'7VY*LFZU^Q\Y%5J*Q5CU277.#20:E
M#*.F)B8VY\<S2>R4XP ^B B.6W'R(AO&S<5GQ9/;8LW"4H2;CF6-LH5\L\DZ
MCNA=H4W=7$:4%+#ZO&QUUI:TJ"Q2IQ@O8BC3K:E"FG"$(^Y8,Z*6#.]]R8L<
MQ[K>1(E)!!O!CIN);CE7@2GD$@E@8  8&   P  P  &   Q@8  8&$
M          TGU!# C!J=<M'<6TG'ZT?6^1MUT+<UE-/N36VI4O7NC4N)A)M9
M:2DUC'@5)87N,S5=.JT+F56A&52-1Y:2SAM_@8,9=5*+C)/#36-SIC5O#"E^
MV>RR>X\2,$E8X;S.IX#(TRX=K>I9:A4ZKV]#'*:FT'+]*.Z+1'=PQS1KW1\.
MW@]LKI@KCT,'1:KK:90J2ZRCEF<GN<TQS+>L[B)2T2B&R40L
M                                    M7/YF?N-7PO_ *LH?V3:7/YF
M?N-7PO\ ZLH?V2\?C+*W^R&W1*(1*,VOR$D$D@
M                           4OJ!)*Z!= $!1-*:::37M*RG&["?+3W.A
MV]:;<5*GOGU-OX$6^B6])YG'SO\ ;Q+^!N'[ MRW?9EZ5-^%NG3A2BHPC&*7
M9(NXV'WDQZ%=M8C2%U*B$MB4!#ZA] P^@@1GU6RG+7<K_19:E+ECGNQ!O4*+
MNLJ-%RD^B-=H].4JL[FHO6FWRM]>5X:1:N:COKJ-O3?J4WS3?M3Z&XHP4())
M;)%Y]L,(]]M_2XGZSRR>Y$%E/WDLHW5(!
M                            $="2.J M58*:>4F</;[T_5^1W;>,G(ZK
M9^BU5.F_49MBG?#FS^V8LQNWM\ %M+/5-!%Y:UGA*)LX>>U"A3:S'F>4^CV*
M2_I4E'5*6?TGC[F36/+'/XB/Y==1@H]-BY@IAA,K.1U:T8&-B&2NA(A+!(3
M                                 B1)#> ("6^X8R!14@I)K!S.MV52
MC7E7@EYM1RU\SJ>A8NJ*K4I1:SG8M2VF67'W1_+C4^9+&?678E8[9^)%:#MK
MJK3J>KZSY<^&2?CDZ)C<;4Q9.Z-3Y"BJ_4>>KV*RBMM%>+>%[R:&>?\ '+J]
M$AR:;0AX1-A%;LP='C.%A2C47K);F=[CEMYEKCCV0G&Y)"Z$D+@
M                                      +-Q^8G[C5\,K_Y90_LFTK_
M )B?N-7PP_\ Y90_LEX_&65O]D-SG8=$.P[&;5'4;DHG)(IW&Y5D9(%.XW*L
MC(%.XW*LC(%.XW*LC(%.XW*LC(%.XW*LC(%.XW*LC(%.XW*LC(%.XW*LC(%.
MXW*LC(%.XW*LC(%.XW*LC(%.XW*LC(%.XW*LC(%.XW*LC(%.XW*LC(%.XW*L
MC(%.XW*LC(%.XW*LC(%.XP59&0*=P59&0*<#!5D9 I);)R4)Y)$@#8&C]%^)
M';#>22W.:A%]$O$(WKE4]HM/H:>^NI3J^C6^]7OVPN_4JKWLJ\O,6JRWW[>)
ME6%A"U3;;E-]9>)>([?+&9G).J^%>GVL;>.(]6MWXF:D4Q]W3H5%9G;6M8B-
M0+J "%@
M   CH20@(6YI-<MZMQ2Q2CS237=+N;Q81;Y=]RU;:4O6+1IQ=>G7MXYN*7+O
M^LG^!$7F'-'IXG9U:4)PE&2V:P:6KH"G/FI5I4O8HY_$VC)$Q[F'9>GX\M,N
MF5N_$I\ZJ,H5E^@\FSKZ'5ITYRC7E*26RY5N:J7/*3I<CYWLU@O74QPSRY/;
MJ\:GX=O:5/.0B^Y?-7H$:T+51N%B:_Q-H<LQJ77CGNK$@ (7
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M/!V6M^3'L[6%K#DIK"?WF6NA&^=^B*O@5WMK%8K&H2O$!=6"$@
M                                                $$D8]X$?$9>-
MQRKVA)@VC!*#V[# -HDD]S%C9TE<RKI>M+"?P,O&$R(Y75#<H[8GRE;2PBHI
M2Q)%02                                           4O/-["HA@1D
MC.7L,-^X16 *B.X*ET $=!W#Z@3U0(9*
M                     %/*O!%1& (27@OD3RKP&"=PA'*O <J\"=P#2.5>
M Y5X$@&D<J\!RKP) -(Y5X#E7@2 :1RKP'*O D TCE7@.5>!(!I'*O <J\"0
M#2.5> Y5X$@&D<J\!RKP) -(Y5X#E7@2 :1RKP'*O D TCE7@.5>!(!I'*O
M<J\"0#2.5> Y5X$@&D<J\!RKP) -(Y5X#E7@2 :1RKP'*O D TCE7@.5>!(!
MI'*O <J\"0#2.5> Y5X$@&D<J\!RKP) -(Y5X#E7@2 :1RKP'*O D;@TCE7@
M1A>"^15N1@"$EX?<5)$$@  $@
M
M
M                           1S("01E#F0$@AM(<RP!(&41SK8"01E$Y
M 91',@)!&4.99 D$<R^_ YED"06YUZ4)8E4BGX-E:DGT8$@A-,D
M
M
M
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M?TSZ/3_X47S1'9&D1/+8QZ%2*8[+&-O83DY-+I 70$@
M
M
M
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MG!0BHJ*6$DL)(IDR]U8CZ(A<CTWQ\!@A)KN2C'2P "0
M
M
M
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ME\ 6/1:/V2^8]%H_9+YE\ 6/1:/V2^8]%H_9+YE\ 6/1:/V2^8]%H_9+YE\
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MWVP2)!2I-Y^X<V<^P"H%/-[L^!*EE,"01%Y620 'XE/-OX>(%0">4
M " '8C+^(?0D$A@H=116[,6MJ-O2_.58Q,<F>F/\YB$UI-O$,U$8W,*CJ=I5
M>*=:,G[#+A-2Z#'GQY.*6B4S6T>85@I;VR(LUTKM4EL2B ]EGL!(*5)OINA&
M2ET>214!G?!#> )!3S>['B5+=            #!# =@@NY3D;-)R1S(MU*\(
M)\SQ[68D]4LJ;Q.O!,F*VGQ"DWK7S+8)[;=2%G)B4M0MZNU*I%MF6I96S(U,
M>4UM%O"I)$E,.KRRH+ #>"GF_P  *@4Y9+>&!((3R2 !#;SL1S9Z 5 1>4
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M,I? A2W>ZV J!$7E$@   !#?AU(4MG+MV J!&=@I9Z 2",[M$<VWL J
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M="$_,]?6P\<V<8QD[O1;;4+6TC3U34%?UTWFLJ"HYW>/538&Q!&=R5TW
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MC&ZZ]P/0 :'AF&L497M/6;V-]",HJA7C2C2YUC?U8MXWVW\#>*3RUC;Q J
M      (:S@D/H!2L/+1YKY7/*C8\$64*<%*OJ%=^I"/Z.''.<[=&STEK9[X]
MO@?GIQUK%SK?$M[=WKS-RY,[+:+PNB Z#B?RM\6Z_/\ SG4'1C'.%0CYOKC]
M7W&ETWCGB33ZZJ4-6O'*+S^4K2FL^YLYG.$M\>WQ"SA- ?2'DO\ +]=U+^C8
M<6-58U91IPK4X1@HY<5OC=]V?3%E<4KNUIU[::J4:D5.$EW364_D?FN\O?MX
M^)]J?T9-3N-2\FU+TE_Z/7=O!;?5C""0'K0(3W)CTW &'J>H6NFVM2ZOJL:-
M"&TIM-X^1F'F=_0CKOE1I4+_ #*VLH2Y*:VRTE)/*\&!T=KQYPS=W%*A;ZK2
MG5JS4(149^M)O"70ZE=#!U#3K74+=4KJBI0YE+"?+AKW'):WJNIU]?M>'>&+
MA6OFJ$:M6X=.-7D@IN#7++&<;/.0.[*,//\ $X?A_7M6L^)ZFA:_6C=5.13I
MW*A&GS9>RY(YQLGW+E_:<65(7%Q;:[2M7&3\W:.SI3;6=GSN7AN!O^(]8AH>
ME5+^K3E6A3<4XQ>.K2_B9.DWL=0L:5VH2IQJ+*3?MP>;W^OUN(O);<W5W!*O
MYV"GAK?\KA=$O [O@Y8X;L$ELH/?_>8&Z[IX*BE8YLY*@        **R;@U'
MKV.*U2A7I7$I5TVF]MSN,%JM;TZT'&I'*?M+X[]DHF-N;T33ZE6#J5)RC%],
M2:\3<?1=']>OG_O&9]*G&G!1@L1141>\VG9$::UV56GEV];#_KYD13NKBWER
MWD>:+V\Y%)(V378MSBI0<9=&MR-I32G&<%*/1[I^)5DYJIJ?T;<U:5.'/3<G
M)[XWS[O8;73=2A>MI+E:6<9S_ M..T1M6);#WO8P]4OHV&GUKNI3=2--9Y8O
M#ZF9WW[=#3\7K/#E[_9_B46<Q9>4*XN].CJ-/AR^=AC/G_.PY<9QG&<]F96H
M:YJVHT=)N^%::KVM>I3=QZJ?)3;];K[/ X_@KC#2=.X"IV$JWG-1<)4E0Y)K
M+E*6/6Y6NZ,35--N=+TKAR-W%TZU:_MINGE/EW>5E/<#V_'@/>>4\=6$-4\I
MVFV=>4O1JMK2C5BFUSQ=22:RGM[R\M/H<&<<Z=;Z-&5*UU)PH5(2DYYW;ZRR
M_P  /3^F5'KV,/6;F=MIM6M0^M'&'\4CR75-4T/7>)[I<6W<J5I;QBJ-&,*F
M6]U+UH+/9=2]P7JM&-'6M+LZSK:70\SZ+)P<7NY2GU6>N>H'1Z?K/$6I\ :7
MJ.FTXU]1KM.IRPBEA56GL]OJH[:PE6G:TY7,>6OCUUX,\IS)>0W2NL7YZGW_
M /XACR@TG<+ANC"HX*K.G!OV.;0'KZ?XX*<K..V?FSRK5M"LN$N)=!KZ<IQJ
MW-U2HW$I3E)34FW)X;>-XKH1Q_K=A=\6VVCZY<NCHM.G"XDXPDW.3RG'U5S+
M;N!ZOT6_3N2LYWW/(>#]3TNQXT5CPO<2GI5RH1Y90GM))M[S63UZ+]9[;@5
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MWM[CZ4J2C%PG2E&*7/OZV,=#UH-)@:KA339Z1P]96%5ISH0Y7CWM_P 3:@
M       4[-E,US1:?0JDGC8I281_#P[RH<,7%GJDKZVCST*N\DNV,?Q9Y^L8
M22Q@^K+BVIUX.-2*<7U3.,UGR=:9?U.>DHV\OZL,_P#/0[</5=L:EXO5?IEK
MVFV-X-A1Z&;I&FUM5O:5K;P>:DDG+&R3>/XGK-IY*;*B\U+J=5?JRIH[71M
MLM*I1C:T80PL92-,G5Q,:ACB_2\DVW?PM<):4M'T6VM<YE""YFN[PE_ WL.I
M"BDMBI(\^9W.WOTI%*Q6$D2[+H_$D$+/*=6U:WT+RGW%W?0K^BNGA.G2<]_-
MQ\"YJ>JV_&G$.CT]%IUV[:K"XJ3K4W3Y8QFFTL]3U+"\!A >.<2SL*?'M=\9
M4:UW8^9:MX0I2FDN=\KS'_>^9=\G%G&K<Z]3TZVE;6]:G-4%)-;.2Y>OLP>O
M8& /*_)EKEOH\*^B7].XC=SNZLXM4I.+S[>G9F+PCJMOPSQ!JUGJU.XA4JN+
MA*G2E-/.9=5[&CU["& /&M>T;1]%XON+GB+37=V%[B5&I!2DX*,%%^K'QEXF
MWX8^@KBAJ\^&M)E:TX6]2,JTE.,I/EV7++Q/3L=0!P7DAA.'#<O.1DFY1>)+
M#^JC8>4JU=?AFK<)KSEC+TN&?UHQEC\3K<&FXHT1:[80M:ES.A2513GRQ3\Y
M'#3B_8\_<!S_ )+=+JVFBU+N\?/<W,FW)]>5X:7WG<1Z%FVI1MJ%*C#+C""A
M';P6"]'H!(       !H>*=*6IZ?-1>*E-9CM\3?%*7S0'B5>A4HU'"K#EDNO
MM+:W;/8-4T>TU#>M2@Y?K-;FCGP/:RJ.2N)1CX**)V//(1E)M063O>!=&G0C
M*\K;.>,+PQG^9N=,X:L;%I^;C4DNDFL&[C%1226$MB!$5AX14$L ")/".0\I
MT)3X8K*$92RY;)9_0D=@,+.0.$U?3)W_ )/M,E235U9VM*M1BU^DJ:7PZG-^
M3E:C#0M6=O&=*^S+DRL>MS[O+7O/7\;8 'SU3?#M3A>M0JV%Q7XDE)\M65&<
M5]?QZ?5R=+Q5IUQ6\F^D5(TY25O+,UC?>KX? ]@PDL=AA;@>?:QK-KQAPK?0
MTR%=U*"\Y)5:3AG";VR<MJ?$]M<^3VEH]K;W,]0I4.6I&5*48Q2BTVI8WZH]
MJPAA >3\:4:DN#.!XJ$W*-6VYDHMM?DN_@=CQ/Z7#@6YEIDG3O8V\/-275/;
MQ.GP1RK&, ?/6IQX>GPI7IVVG5Y:\]YW#HU%B7.LM=GMDZ_BFC4G/AB,83YH
MNOG$6\;H]7(226,; 4KP[]D<#Q=IMWIG$U#B73::E3I4>2Y@GAN/,Y3??+PN
MB1Z#C?(P@/,^(..]*UCAS4-/H0O?3+NVG1A!V\U%2E%I+./%FLXALM0T[@?1
M[>LI1MYU/\[A37,W2\VNW4]>PO D#PB4="J:]HCX;TRK;J$I^>J.G-<_Y-]5
M+IODZGBW4.&IZS7M>)M)J59T(P\Q7A"I/GS!.65'IC9'IV%X#" \[\DUM*G#
M4J]O"5'3*LX.VHR6,))J77=>MGJ>A1WSL3RKP)P@         ;PL@ 6Y)3BX
M]%W/C_\ I!>3BXT'65J=A3\Y8W.SC%?5:Y?:^\C[$P8VHVE&^M)V]Q!5*4\9
M@^CP\_P _-N6_5M8[8"77\3[1XL\A?#.LSYK&WI:;+?FE1IY;Z>+]C^9H=+_
M *.6CV=Q3J5M0J7<%)-PJ44ECPZ@?,7#.@WO$6K6]E84Y2E5J1@Y8VBG)+^)
M]T^3+A6'"7"MGIL6O.0A&55I=:G+%2?5]XF9PSPAHO#47'1K"C:IQQ)P6.9[
M?R1T*2P@)SN  !YSQ1;77#W%M/B2A3=?3W%PN8KZT7+9-+=O"/1@!PT?*)IU
MU4HV^ET+NO<5:D8)5:,J:67C.6C6:M6EPIQC#6[JC.I:WENK>JJ:<G3G*HYO
M9=<)'IB20P@/,M!<^)^-_INA0E1L*$$H2FFI2E%XZ/=;,YNA+1EJVIRXML*U
M_J;JR5%>;GRJ',\>M';ZN#W'"\ DD\]P/#>'[>:\D][!4*F75ABFXM/\](]7
MX1BZ?#ME&2<91@\KXLW>$$DN@%,>CQXE0QN              "&\%%3,H2Y/
MK8V+@(V.,U*QNJ=Q5JS65*3V7AEFUX9H<E"=1QQ-O!O6D1"*718-9R3-=*ZY
M%E>TUFOVU6^T>ZMK9*56<<)-X74VF%C&"<&:SE?)UI%YHG#%K97\(0N*:>5&
M7,OK-_Q,;CW0+_6;C2I6$82C;W=*M44I*.(QDVV=GA9R /)^.*EY0\J&G3TZ
MUIW5RK6GRTYU?-IOSLN^'WP;VPT35M7XFHZMKM"E9*V472MZ=555S)O?FV\3
MK:^D6%?4J=_6M:<[R$5"-5KUDD\I?,SL+P X&YT76=#U^OJ'#MM2O*5S&,:E
M"I65)+ESOEYSG)FVMMQ%J$=0EJE&E:PJ>;\S;0K*I&./K>MA>"?Q.QP@!YS_
M )+:FO)CI^B.E35_1J0E4CYQ<J2K.77W%[B;AG4;^MH4K>G3E&TJ0E5S-+"4
MVW]QZ $DN@'&\<:%>ZM?Z-6LH0=*UNZ=:KS22Q&/-G'CU18X@X?U"&LV>N:-
M"%>\I0A2J6\YJFI0CEXYGGOCL=SA#"SGN!R6G5.)[S5*534;6EIMG3>94Z5=
M5O.>Q[+!U4=L)E>$       4M  3V*<XZ@ %OT)6S (VDSX$Y )0D
M             !&6,@ 2'T8! H7_ #D/;IU &B$923[LGF[  GA4NA  @^ F
M(!)"0                  *6]@ 3X%NB4NH 1'A3@8 "8,X)Z@!"8D@!(
M(D]TN[*&MTWCF]@ $I==ED/,4W+KV  JC]5>TD             ?0 "G#QU(
MP\;L 0&$_'(P^KP 1(G?MT(QN 2*D@E@ "0             MY;DU%Y?@^@
M$YVQEY*UT          $9VR !"WR-VMD@ "Z[E0   "
M                      UM[0 *7MUR\D;K/3V  &TEAY95'I^  $@
M                        Z $!U1"Z $B5T
#!__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>g938159g85g01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g938159g85g01.jpg
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M>P
M                              #@KJJ*BHIZJH54A@C=(]43*X1,KZ@.
M<'#15,=91P5,"JL4T;9&*J8795,H<P
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M F0
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MC%Z45,H<Q!Z%VNXZS;><]BLZL;ON)P@
M         !\VDZ4 ^@^;3>E.L;3>E.L#Z#YM-Z4ZQM-Z4ZP/H/FTWI3K&TWI
M3K ^@^;3>E.L;3>E.L#Z#YM-Z4ZQM-Z4ZP/H/FTWI3K&TWI3K ^@^;2=*=9]
M
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M$#W0.^;I]?\ 0D;57+7,D<L:,V51.7.0,T
M        #1;AC^5#4WTUYO2:+<,?RH:F^FO/NL?>>F:E. !TV
M  !FV+X[M_TB/\2'H:>>5B^.[?\ 2(_Q(>AISK_>END !SV@  "+U+>X-/VM
MU?5Q3RP,<C7)"U%5,[D7>J;L^LE#BJZ:&LII:>JC;+!(U6O8Y,HY *=K-U'=
MFZ5E1L5325-PC]TB.:YJM=N7^A$04M+8>%2BHM/JL<%5"Y:RF8Y58S<Y47P<
MB+C^I^KQP:QQU-#VDJ:Z*F6I1TT:3IB%N%R]F=^>M=Y;=,:4MFG>,?1,DDJ9
M4P^HF=M/<G1GF]!1S5NHJ&BO]):*E9(ZFJ9M1/5J<6O+NSGEW<GA0XM=24D>
MD;JM>K.*6G<U$=SO5/:X\.<8.;4FG;?J&E;!<HE=L+F.1B[+XU\"D#3<'-M2
MHCDN%;<;C'$N60U4VTQ/1@@P;;;:JNX&DI'M<ZH=2N?&U>541ZO8GI1$)[@Y
MN<5STA;EB>BR01-IY&YWM<U,;_&B(OI+(UJ-:C6HB-1,(B<B(5"X\']MJ*^6
MKH:JNMLLRYE2DEV&O]&/T C;O(V\\*MHI:94D9:XG2SN;O1KEYOP=9V$0VF=
M-V[3M/)';XW*^1<R32.VGR+X5)D
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M&:A^+E\M/S,BL  J              6#3'O,_E(5\L&F/>9_*0$)H $4
M                            -%N&/Y4-3?37F])HMPQ_*AJ;Z:\^ZQ]Y
MZ9J4X '38             &;8OCNW_2(_P 2'H:>>5B^.[?](C_$AZ&G.O\
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MU]CE\D5F\J?^<\[*.%C<E7;TC8(S4/Q<OEI^9)D9J'XN7RT_,\U5@ %0
M         "P:8]YG\I"OE@TQ[S/Y2 A-  B@
M       !HMPQ_*AJ;Z:\WI-%N&/Y4-3?37GW6/O/3-2G  Z;
M  S;%\=V_P"D1_B0]#3SRL7QW;_I$?XD/0TYU_O2W2  Y[2M:D^'M\VGK4BB
M5U)\/;YM/6I%%0               !<K;\ I_-M]1D&/;?@%/YMOJ,@B@
M                            -;/9?_#-+^;J/7&:\&P_LO\ X9I?S=1Z
MXS7@[-KQ0Q.X #Z&0            !NA['+Y(K-Y4_\ .>=E'6OL<ODBLWE3
M_P YYV4<+&Y*NWI&P1FH?BY?+3\R3(S4/Q<OEI^9YJK  *@
M%@TQ[S/Y2%?+!ICWF?RD!": !%                                #1
M;AC^5#4WTUYO2:+<,?RH:F^FO/NL?>>F:E. !TV             !FV+X[M_
MTB/\2'H:>>5B^.[?](C_ !(>AISK_>END !SVE:U)\/;YM/6I%$KJ3X>WS:>
MM2**@               "Y6WX!3^;;ZC(,>V_ *?S;?49!%
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ML7QW;_I$?XD/0TYU_O2W2  Y[2M:D^'M\VGK4BB5U)\/;YM/6I%%0
M        !<K;\ I_-M]1D&/;?@%/YMOJ,@B@
M       -;/9?_#-+^;J/7&:\&P_LO_AFE_-U'KC->#LVO%#$[@ /H9
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MY?+3\SS56  5              +!ICWF?RD*^6#3'O,_E("$T "*
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M=E'6OL<ODBLWE3_SGG91PL;DJ[>D;!&:A^+E\M/S),C-0_%R^6GYGFJL  J
M             6#3'O,_E(5\L&F/>9_*0$)H $4
M           -%N&/Y4-3?37F])HMPQ_*AJ;Z:\^ZQ]YZ9J4X '38
M     &;8OCNW_2(_Q(>AIYY6+X[M_P!(C_$AZ&G.O]Z6Z0 '/:5K4GP]OFT]
M:D42NI/A[?-IZU(HJ                +E;?@%/YMOJ,@Q[;\ I_-M]1D$4
M                               !K9[+_P"&:7\W4>N,UX-A_9?_  S2
M_FZCUQFO!V;7BAB=P 'T,@            #=#V.7R16;RI_YSSLHZU]CE\D5
MF\J?^<\[*.%C<E7;TC8(S4/Q<OEI^9)D9J'XN7RT_,\U5@ %0
M  "P:8]YG\I"OE@TQ[S/Y2 A-  B@
M!HMPQ_*AJ;Z:\WI-%N&/Y4-3?37GW6/O/3-2G  Z;              S;%\=
MV_Z1'^)#T-//*Q?'=O\ I$?XD/0TYU_O2W2  Y[2M:D^'M\VGK4BB5U)\/;Y
MM/6I%%0               !<K;\ I_-M]1D&/;?@%/YMOJ,@B@
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M:>>5B^.[?](C_$AZ&G.O]Z6Z0 '/:5K4GP]OFT]:D42NI/A[?-IZU(HJ
M            +E;?@%/YMOJ,@Q[;\ I_-M]1D$4
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M$?XD/0TYU_O2W2  Y[2M:D^'M\VGK4BB5U)\/;YM/6I%%0
M !<K;\ I_-M]1D&/;?@%/YMOJ,@B@
M-;/9?_#-+^;J/7&:\&P_LO\ X9I?S=1ZXS7@[-KQ0Q.X #Z&0
M !NA['+Y(K-Y4_\ .>=E'6OL<ODBLWE3_P YYV4<+&Y*NWI&P1FH?BY?+3\R
M3(S4/Q<OEI^9YJK  *@             %@TQ[S/Y2%?+!ICWF?RD!": !%
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MS/-58 !4              L&F/>9_*0KY8-,>\S^4@(30 (H
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M^QR^2*S>5/\ SGG91PL;DJ[>D;!&:A^+E\M/S),C-0_%R^6GYGFJL  J
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MP4[%1%>J*N]>1,)O,BFGBJJ:*>G>DD,K4>QZ<CFJF44#D
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M-DFG-?QV"@K9JFV3TRRN@E?MK3.3*IA>;D3ZQDZX;VEU+9-1LW1(_L.K7_\
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M55?6ZA@N-P2GXF6!D+8WM;EJHJHCO G-SE%T !
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M;84BA1=I=^5<O.JKSJ2
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M:B)<QRL1[5Z45,H<I#:+VNY&S;?+V)%U;*8)D@
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M_N\>/C&@6UCD>Q'-7+53*+TH?3!L.UVCMVW[OL>/.>G90SB
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M!\[)&7%['-8B*BLV47EZR)K="1U.M&7GLA&T:O;/+2X7V\K45$=T="]?274
M0&J[#)>Y+2Z*=D7858RI=M(J[2-YD)R:)DT,D4J;4;VJUR+SHNY3]@"GZ T<
MNEWUSY:EM3).K6L<C5398F=WW_<<W"!I1VJ**E9!4-IZB!ZJDCD545KDPY-W
M3N+4 ,>VTD=!;Z:DA][@C;$WQ(F"'TW8)+3=[Y623LD;<9TE:UJ*BL1-K<O6
M6  5_4%@DNE]L=>R=D;+?(Y[F*BJK\XY.HB.$9KKO4VG3E.JK)5S)//C^"%G
M*J^->3PH7<_"0Q),LR1L294V5?LIM*G1GH _36HUJ-:F&HF$0^@
M
M
M
M
M
M                                                          '1
MGLJKI<+79[ ZV5U51N?/*CUIYG1JY$:G+A4R:Y=UNH_\07?_ #LG_4?7A6DX
ME.K-F9>@ //_ +K=1_X@N_\ G9/^H=UNH_\ $%W_ ,[)_P!1Z>!/Z-3T !Y_
M]UNH_P#$%W_SLG_4.ZW4?^(+O_G9/^H>!/Z-3T !Y_\ =;J/_$%W_P [)_U'
MZ9JW4>TG_F"[\OSV3_J'@3^C4W^!^8M\;,]"&)>YZFEM-7-00+45;(U6*)/X
MG<Q\#3-!1+=HRHN%!%5WV\79+I,U'NXJ?8;"J[]E&HF-QF\'MSK:E+M;;E/V
M5-;*E8$J<;Y&[\9\.[[P+<#KRBCJM<WFY22U]52V.BF6GBBI7["S.3E<Y>CD
M7TIX3]M[,T9J:VTJUU3662Y/XEK:E^VZ"3FPO0N4^_H [ !6M:=N:A:"WV19
M(&5,BI4UC$WPL3')X5S]Q!:@TQ)I^SU-VM%[NC*RD9QJ]D3\8R5$Y4<BIS@=
MA P+!7.N=DH*Y[-A]1"R16IS*J94KVN+K52S0Z>LDBMN56W:EE:OP>%.5V>9
M5YO^P%P!3>"6HGJM'QR54TL\G'2)MR.5RXSTJ7(        #\RR,BC=)(NRQ
MJ95>@PNW%!\X;]5?Z'[O'Q94^0I1P+KVXH/G#?JK_0=N*#YPWZJ_T*4 +KVX
MH/G#?JK_ $';B@^<-^JO]"E "Z]N*#YPWZJ_T';B@^<-^JO]"E #L"GGCJ(D
MDA=M,7D4Y",TW\4Q^4[UDF !4]44UYNU\I+922U-#:%C62IJX%PYR[\,1>;F
MZR"U/;9]$T4=YL]TKGMCE:V:EJIN,9*U5QZ% [)!7M;WYUBTU+6P-S4R*V*!
MKD_C=R93P)E?00U/H:HGH6SW"_75+P]NVLL<ZHR-_0C>A/\ 6 +T"J\']YJ[
MC1UM%=E1URMLRT\SD_C3?AWW+U$=26*YZEK*ZKU#57"AIFS+'2T<$G%IL)R/
M=CESGU@7L%$LCZS3^MV6!U=45]OJ:99XNR';4D*HJ[MKG3<O6@X0EFK-0::M
M$%74TS*J21TKJ>16.V41.=/2!>P4QFA:5RKL7^_NQRXK<_\ Q+FB81$Z !\V
MF[6SM)M8SC.\_-1*RG@DFE79CC:KW+T(B94IW!JU]Q@K]15:9J;C,J1Y_@A:
MN&M3TYZD N@*UPAW=]HTQ4.IE5*RI5*:!&\NV[=E/"B94BN#BJK:*MNFG;S4
M/GK*56S1R/<KE?&Y$SA5YD7'6!>@<-;5T]#2R5-9,R&"-,O>]<(B%;@U_IV:
M=D:5KV->NRR62%[&.7RE3'6!:@<-5504E+)4U,S(J=C=ITCEPB)XRM1<(&G9
M)FL[->QCEV6ROA>V-5\I4]8%K!'WF\4-FH.S;A-Q=-M(U'M:KLJO)R&>KD1J
MN7D1,@?01EOOUON%GDNE+,KZ*-'N<_8<F$;R[E3)%5.O=/4\,,CJUSTE9QB(
MR)[E:WI<F-WI M *]5ZSL5-0T]4ZO;)'4(JQ-B:Y[G(G+[5$RGIP9M@U!;;_
M  /EM=2DR1KA[516N8OA1=X$H""J]6V6D?7,J:U(WT3VQS(K'9VG9PB;O;+N
M7DR?FR:OLUYJEI:*K_WK&4BE8Z-RIX,IO] $^"C\)>K5L5-'3V^H6*Y*]CU1
M8MI.+7.=ZICF\9-1WFUZ@L-R?35,Z4C(WLFE:QT;V)LJJJF4SG $\""T1%0P
M:9HVVNJGJJ+#E9-/G:7VRYY43"9R8=7K_3M-4/A=7+(K%P]\43GL;_\ V1,=
M0%I!C6ZOI;E2,JJ"=D]._P!R]BY3_OX"#EUQ8(J9TSJU51)70[#8G*]7MQG#
M<9QO3?R 64^(YJJJ(Y%5.5$7D(G3^H[7?V2+:ZI)71^[C<U6N;XT7UE?U+)V
M@UM:+K%[6FN2]A5:<RK_  .7PIT]" 7<
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M5VU<JN7*)C&/;)SD5K1BWO5=ALD7MF02=G570UC=S<^/>GI0"\@ @
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M83FY23          '!%1TT55-4Q01LJ)L))(C41S\<F5Y\  <X
0                  #_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>g938159g85g02.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g938159g85g02.jpg
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M*"@H*"@H_\  $0@!5@.5 P$B  (1 0,1 ?_$ !T  0 " @,! 0
M   %!@,' @0( 0G_Q !6$  ! P("! D%"P<*!0,%     0(#! 4&$1(A,9,'
M$Q4605%35=$487&1L0@7(C,W5'*!DJ&S,C16<Z+!\!@C-D)#4F)TT^$U=8*R
MPB5C\92CI</2_\0 &0$! 0 # 0                $" P4$_\0 )1$!  $"
M!@(" P$           $"$0,2,3-1<004$Z%!4F(R_]H # ,!  (1 Q$ /P#U
M2
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M34S<C=%<TVZ\RYX:OU%B*W)66][E:BZ+V/3)S'=2H!*@ @
M
M
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M9[<RV62TT5EH&4=MA2*!NO+:KEZ55>E0.\
M
M                                                     ,*U=,BY
M+419_30^>64WSB'[: 9P8/+*;YQ#]M!Y93?.(?MH!G!@\LIOG$/VT'EE-\XA
M^V@&<&#RRF^<0_;0>64WSB'[: 9P8/+*;YQ#]M!Y93?.(?MH!G!@\LIOG$/V
MT'EE-\XA^V@&<&#RRF^<0_;0SHJ*B*BYHNM%0
M
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MK#]!OL*476D_-8?H-]@(90 10
M
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M/S6'Z#?84HNM)^:P_0;[ 0R@ B@
M
M                                       "D3?'2?27VG YS?'2?27V
MG J              76D_-8?H-]A2BZTGYK#]!OL!#* "*
M
M                                 :]X>;U<;!P<5M?9ZN2DK&31-;*S
M+-$5Z(NWS&PC5ONE_DFN'Z^#\1#9@Q?$IB>4G1YM]]G'/Z25O[/@/?9QS^DE
M;^SX%'!VOBHXAA=>/?9QS^DE;^SX#WV<<_I)6_L^!1P/BHX@NO'OLXY_22M_
M9\![[..?TDK?V? HX'Q4<077CWV<<_I)6_L^ ]]G'/Z25O[/@4<#XJ.(+KQ[
M[..?TDK?V? >^SCG])*W]GP*.!\5'$%UX]]G'/Z25O[/@/?9QS^DE;^SX%'
M^*CB"[>? APA8KOG"7:;?=KW4U5%*DNG$_1R=E$]4V)UHAZI/%GN=/E>L?HG
M_!>>TSF>93%-<1$?AE2  \C(  %(F^.D^DOM.!SF^.D^DOM.!4
M    NM)^:P_0;["E%UI/S6'Z#?8"&4 $4
M
M                    U;[I?Y)KA^O@_$0VD:M]TO\ )-</U\'XB&W W*>T
MG1XU !W&L             ;)]SI\KUC]$_X+SVF>+/<Z?*]8_1/^"\]IG*\W
M<CIG3H  \;(  %(F^.D^DOM.!SF^.D^DOM.!4              NM)^:P_0;
M["E%UI/S6'Z#?8"&4 $4
M
M       U;[I?Y)KA^O@_$0VD:M]TO\DUP_7P?B(;<#<I[2='C4 '<:P
M       !LGW.GRO6/T3_ (+SVF>+/<Z?*]8_1/\ @O/:9RO-W(Z9TZ  /&R
M !2)OCI/I+[3@<YOCI/I+[3@5              +K2?FL/T&^PI1=:3\UA^@
MWV AE !%
M                                                       -6^Z7
M^2:X?KX/Q$-I&K?=+_)-</U\'XB&W W*>TG1XU !W&L             ;)]S
MI\KUC]$_X+SVF>+/<Z?*]8_1/^"\]IG*\W<CIG3H  \;(  %(F^.D^DOM.!S
MF^.D^DOM.!4              NM)^:P_0;["E%UI/S6'Z#?8"&4 $4
M
M                                         U;[I?Y)KA^O@_$0VD:M
M]TO\DUP_7P?B(;<#<I[2='C4 '<:P            !LGW.GRO6/T3_@O/:9X
ML]SI\KUC]$_X+SVF<KS=R.F=.@ #QL@  4B;XZ3Z2^TX'.;XZ3Z2^TX%0
M          "ZTGYK#]!OL*476D_-8?H-]@(90 10
M
M                          #5ONE_DFN'Z^#\1#:1JWW2_P DUP_7P?B(
M;<#<I[2='C4 '<:P            !LGW.GRO6/T3_@O/:9XL]SI\KUC]$_X+
MSVF<KS=R.F=.@ #QL@  4B;XZ3Z2^TX'.;XZ3Z2^TX%0             "ZT
MGYK#]!OL*476D_-8?H-]@(90 10
M
M             #5ONE_DFN'Z^#\1#:1JWW2_R37#]?!^(AMP-RGM)T>-0 =Q
MK             &R?<Z?*]8_1/\ @O/:9XL]SI\KUC]$_P""\]IG*\W<CIG3
MH  \;(  %(F^.D^DOM.!SF^.D^DOM.!4              NM)^:P_0;["E%U
MI/S6'Z#?8"&4 $4
M        5CGS9.VFW2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.VFW
M2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.VFW2CGS9.VFW2DUR3;N[
MZ3<M\!R3;N[Z3<M\ (7GS9.VFW2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M\
M(7GS9.VFW2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.VFW2CGS9.VF
MW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.VFW2CGS9.VFW2DUR3;N[Z3<M\!R3
M;N[Z3<M\ (7GS9.VFW2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.VF
MW2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.VFW2CGS9.VFW2DUR3;N
M[Z3<M\!R3;N[Z3<M\ (7GS9.VFW2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M\
M (7GS9.VFW2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.VFW2CGS9.V
MFW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.VFW2CGS9.VFW2DUR3;N[Z3<M\!R
M3;N[Z3<M\ (7GS9.VFW2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.V
MFW2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.VFW2CGS9.VFW2DUR3;
MN[Z3<M\!R3;N[Z3<M\ (7GS9.VFW2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M
M\ (7GS9.VFW2CGS9.VFW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.VFW2CGS9.
MVFW2DUR3;N[Z3<M\!R3;N[Z3<M\ (7GS9.VFW2E$X:[M38JP!5VJS*^6LDEB
M<UKVZ"*C7HJZUU;#:O)-N[OI-RWP')-N[OI-RWP,J:LLQ5'X1X;][_$/S2/?
M,\1[W^(?FD>^9XGN3DFW=WTFY;X#DFW=WTFY;X'J]W$XA,KPW[W^(?FD>^9X
MCWO\0_-(]\SQ/<G)-N[OI-RWP')-N[OI-RWP'NXG$&5X;][_ !#\TCWS/$>]
M_B'YI'OF>)[DY)MW=])N6^ Y)MW=])N6^ ]W$X@RO#?O?XA^:1[YGB/>_P 0
M_-(]\SQ/<G)-N[OI-RWP')-N[OI-RWP'NXG$&5X;][_$/S2/?,\1[W^(?FD>
M^9XGN3DFW=WTFY;X#DFW=WTFY;X#W<3B#*\-^]_B'YI'OF>(][_$/S2/?,\3
MW)R3;N[Z3<M\!R3;N[Z3<M\![N)Q!E>3^!S#URPQPAVN[7>!(J*!)=-S7M>J
M:4;FIJ1<]JH>EN?-D[:;=*37)-N[OI-RWP')-N[OI-RWP-&+BSBSFJ6(LA>?
M-D[:;=*.?-D[:;=*37)-N[OI-RWP')-N[OI-RWP-2H7GS9.VFW2CGS9.VFW2
MDUR3;N[Z3<M\!R3;N[Z3<M\ *!)?[>Z1RI*[)55?R%./+U!VKOL*;!Y)MW=]
M)N6^ Y)MW=])N6^!4LU]R]0=J[["CEZ@[5WV%-@\DV[N^DW+? <DV[N^DW+?
M 7+-?<O4':N^PHY>H.U=]A38/)-N[OI-RWP')-N[OI-RWP%RS7W+U!VKOL*.
M7J#M7?84V#R3;N[Z3<M\!R3;N[Z3<M\!<LU]R]0=J[["CEZ@[5WV%-@\DV[N
M^DW+? <DV[N^DW+? 7+-?<O4':N^PHY>H.U=]A38/)-N[OI-RWP')-N[OI-R
MWP%RS7W+U!VKOL*62GQM9601L=-+FUJ(O\TO43O)-N[OI-RWP')-N[OI-RWP
M A>?-D[:;=*.?-D[:;=*37)-N[OI-RWP')-N[OI-RWP(J%Y\V3MIMTHY\V3M
MIMTI-<DV[N^DW+? <DV[N^DW+? "%Y\V3MIMTHY\V3MIMTI-<DV[N^DW+? <
MDV[N^DW+? "%Y\V3MIMTHY\V3MIMTI-<DV[N^DW+? <DV[N^DW+? "%Y\V3M
MIMTHY\V3MIMTI-<DV[N^DW+? <DV[N^DW+? "%Y\V3MIMTHY\V3MIMTI-<DV
M[N^DW+? <DV[N^DW+? "%Y\V3MIMTHY\V3MIMTI-<DV[N^DW+? <DV[N^DW+
M? "%Y\V3MIMTHY\V3MIMTI-<DV[N^DW+? <DV[N^DW+? "%Y\V3MIMTHY\V3
MMIMTI-<DV[N^DW+? <DV[N^DW+? "%Y\V3MIMTHY\V3MIMTI-<DV[N^DW+?
M<DV[N^DW+? "%Y\V3MIMTHY\V3MIMTI-<DV[N^DW+? <DV[N^DW+? "%Y\V3
MMIMTHY\V3MIMTI-<DV[N^DW+? <DV[N^DW+? "%Y\V3MIMTHY\V3MIMTI-<D
MV[N^DW+? <DV[N^DW+? "%Y\V3MIMTHY\V3MIMTI-<DV[N^DW+? <DV[N^DW
M+? "%Y\V3MIMTHY\V3MIMTI-<DV[N^DW+? <DV[N^DW+? "%Y\V3MIMTHY\V
M3MIMTI-<DV[N^DW+? <DV[N^DW+? "%Y\V3MIMTHY\V3MIMTI-<DV[N^DW+?
M <DV[N^DW+? "%Y\V3MIMTHY\V3MIMTI-<DV[N^DW+? <DV[N^DW+? "%Y\V
M3MIMTHY\V3MIMTI-<DV[N^DW+? <DV[N^DW+? "%Y\V3MIMTHY\V3MIMTI-<
MDV[N^DW+? <DV[N^DW+? "';C:S.SRFEU?\ M*"92TVY-E!2;EO@ .X
M                                    ?&N1V>BJ+EJ7)0/H"JC4S541
M$Z5"*BIFFM             ^(Y%541454VY+L/H              !C9/"^:
M2%DL;I8\M-B.17-SV9IT&0       PSU=/3RPQ3SQQR3.T8FN<B*]>I$Z3,
M!\:YKDS:J*GF4.<UJ9N5$3K50/H.''1=HS[2'-%14S145.M  ,<L\4.7'2LC
MSV:3D3,R(N:9IK0  8XIXI5<D4L;U;M1KD7(#(#'4SQ4T#YJB1L4,::3GO7)
M&IUJIRBD9+&R2)S7QO1'-<U<T5%V*@'(           8W3PME2-TL:2+L:KD
MS7ZC(  /C7([/15%RU+DNP#Z
M                                              !IO#ERJ\/X@O%T
MD57V66YRTM4B:^*72S;)]ZI_"&Y"@X HX*^EQ925<:2037.9CVKTHN0$SPB.
M:_ MV>QR.:Z%%147-%320RVRY4EHP3;:VX2I%3QT4.;EUY_ 3)$3I4HEUK)[
M)AR^85NLBN6.#C+?.[^VBTD^#Z4_<O46FKNU+:L!V1U51)7OGAIX8:941>,D
M5B9)K1<MFTH)C^E8V.>LM-WI*!ZHC:N:GRCU[%7)=@X3;W/;<-2+;V5G&3-1
MS*NG;\"+)S?RG9ZLT7).LBL82XJJ<+7)U?26JCHN)59&<8Z27+J14^#F=C%"
MJO XU57-5HJ;VL GK%B!:JR3U=307"F2D@1[UJ8M%9<FJJJW7KV?>A)V*YPW
MFTTUPIFO9#.W2:UZ(CDUJFO+T'3K4SP74(G=[OPU.GP:+G@:TY=FO_<I!VZ'
M$E)645WJHXID9;))8I4<B9N6-,UT=?MR(ZVXXI+I44D=MM]QJ&3*ULDK(<V0
M*[H>[/+--JD'AER.PWCMS516K5UBHJ=/P%+'P:L;'@BTHQJ-SB5RY)M57+FI
M1]O.+Z2WW);=3TM9<:]K=)\-''IJQ/\ $O0=G#N):2]RU$$<512UM/EQM-4L
MT)&HNQ<NHA5OE=67NY086LU)(^G>D-36U#TC:YZ9_!U)F[+7TD?8>4TX4Y>6
M5I/*GVS-4I-+01NFF2+GK50._@#^D>,?\\G_ )%V*3@#^D>,?\\G_D6;$;Y8
M\/W-]/GQS:6569;=+17(@@I\<TGE<\-NMUSN<<#M&6:D@TV-7I3//62%AQ3;
M[Y<*BEM_&/6"-DKGJB(U4=T;<\TV*BH=;@TC@9@BU>3(W1=&KG*G2_-=+/ZR
M)PHR"/A,Q4E,C49H1*[1V:2HBN^_,"3K\:4L-QGH;?0W"Z5$"Y3>1Q:;8UZE
M7/:2>'+_ $=_IY9*-)8Y(7\7-#,S1DC=U*A6[=?;I=9*N3"=EH8J+CG-6JJ7
MZ"3/34KM%J9]6LPX"2L;C?%+;DZG6K5L"R>3HJ1YZ*[,]>PHE:K&U,VKJ(+=
M;;G<TIW*R:6DATF-<FU,\]:DW8KQ27RW,K+>]71*JM5')DYCDVM5.A2I4-JQ
M)A5U3%9(:.Z6R29TS8I'\7,W/:F>Q?XV$_@Z\TMYH:B2GHUH9XIG1U-.K416
MR=.>6WTD$E>+A%:K74UU0U[HJ=BO<C$UJB=696W8]I'QMEH+9=:Z!&-?++3P
M:38LT1=%5SRS3/7D2'"!_0N\?Y=QDP-'#%@^SMID:C%I8W+E_>5,W??F!V[5
M>:*ZVE+C02\;3Y*JZLG(J;45.A2OT./J.XI3<FVZY52RJB2<7#FD&;LOAJBY
M)LS]!TL(HV*\XW@I\DI&3(YJ)L1ZM=IY?6AW>")C68$H7-:B*]TKG*B;5XQR
M9K]2)Z@.U8TM'/.^I14LT=S8V/RF5R_ >CD14T4S]&>H73&5)2W&6@H:*ONE
M5#\<VCBTTC\RKUD=AQ53A&Q>K=;N+I\OL(<^")K%PGQZZZJ:HE=4.7:K]+I^
MK+UE$]AS$%%?X)7T:R,EA=H303-T)(UZE0C;AC6EAKYZ.WT%PNDM.N4RT<.F
MV->I5SVDK4TM+3/N5910Q-N4D*Z;F_E.R3X.?W%"X/GXFCPM3.L])9Y*:1SW
MK)-(])'.TES5V73JR]"(07W#U]HK]2.GH7/18W:$L4C=%\;NIR$H4["EHO5-
MB>YW2[1T4+*R)K71TKW*BO;EDN2^;/UEQ I=H>MXX1;M5/\ A06F)M+ B[$>
M_6]WIU*GHR)K&=VY%PS7UK5RE:S1B^F[4W[US^H@^#K5>,7M=\9RF]5]"JN1
MT.$:LGK,0V>TT5%)7^3N2OJ*>-R(KD1<FHJKL3;ZT*,?!Q3SX9ODUBK7JOEE
M+'6Q:70_+*1OISS^II(\,#&R88IV/3-KJV)%3S?"('%MXNRUEJO51AVJH$MD
MVE),Z5KT6-RHCFKDG3L^LG.%IS*G"5(Z-^<<M7"K7M7H5'9*@1W?>YPOW9_]
M^3_^CM8CK8<(8/E?01(B4[$BIXU57?"5<DVZURSS^HZ/,1GZ0XA_^L_V,/"?
M1OBP/&D;I)DH9(7N<]<W/:WX.:KTKKS4*XVK %#4TS:K$W'7&Z3M1TKY)7(C
M%7^JU$5-2?QD9K)9+AAK$<=/;%FJ,.U+%5S))$7R5Z;,LUSR7S=>O86ZCJ(J
MREAJ:=Z/AE8CV.3I14S0ZE3>**FNU+;)95\MJ6N='&C57-$VJJIL34NWJ(*E
M=VSXNQ9561*B6"S6YC5JN*=HNGD=K1JKU>"^;+/7\'5J93\98TFMMQC3.&>.
M9R_"Z,\U74<<)/2BQ[BJAG71FJ'1U,6?]=F2YY>C20NTDC(HWR2.1K&(KG.5
M<D1$Z2BNX)NK\18:7E&-JU,;GTM4Q4U*Y-2ZO.BIZU.EP:5$D=%<K-.Y7/M5
M4^!BKM6/-5;^_P"XQ\%2+-;+K7HU6PUMPFFBS3:W4F?KS]1QP9KQSC)S/B^-
MA1?I:+L_W@7<J+L=T#I*B"EHZ^JK(9WP>301(]ZZ&U^I=3=>U2W%#X,(X4KL
M4RM1OE"W*1KEZ=%%7+[U<03^'<3T5[FGIHXZBEKH$SDI:EFA(U.O+I0^8@Q1
M1V>JBH^)J:VOE32;2TL>F_+K7J0AL1(V+A,PQ)3ZJB6*=DV73&C55,_KS]1$
M6F2^NQIBF:T4]NFF2=L;W5;W(YK$1=%&Y="HGW%%OL&*:.[UDE$Z"JH;A&W3
M6FJX]!ZMZTZT.M=<:T%NNU7;7T]9-6P(S1BACTUE5R9Y-1%SU)MSR(MUJQ-<
M,36>Y7&"UP)1/=I.IY':3F.3)4U[?]S)9&-7A7Q$]6HKVTL*(N6M,VMS]@%M
MM%:ZX6Z&J?33TKI$55AG;HO;DJIK3ZBO8_NE9!';[3:9.*N%TFXILO3&Q/RG
M)Y]:?>6PH^-GI0XQPG<9UT:5LLD#WKL:Y[<DS^_U$&6+@VP^E+H5,,]14.3-
M]2^9VFKNO4N7W'9P927BU55=;+BZ2JMT2HZCJY'(KE:O]1=>>KT="^8FK[2U
M]70I':K@E!4::+QRQ))\'7FF2_457"==>6XUN-JN5U2XT]+2H]ST@;&C9%5N
M2:O-GT@7HH_!K_Q'%O\ S67VJ72GGBJ(TDIY8Y8UV.8Y')ZT*7P::Z_%BIL6
MZRY+]:@7@
M                               "#PO85L:W-5J$G\MJWU7Y&CH:7]7:
MN?I)P 5W&V%J?%-M;!+)Q%1$[2BGT=)6]:99IFBI^X^77"\=PPU0VM]2^*>B
M;$L-2QNMLC&Y([+/[LRQ@"CU^$[Y>:"6CO>(4D@5N360TR,1SNAS\LL\MN6P
MGY[!#4X3;8ZJ17Q)3L@61J9+FU$R<B>E$7(F0!!8:M-PMU#-1W:YMN4&BD<.
M<*,5K$145%RVYZMI!T."KI;N,H[;B2HI[.]RNXA(6K(U%VHUZ[/2A>0!5K'A
M%MILEYML-5I1U[Y7,70^*1[=%$V_"RZ]69+X;MBV:QT=O67CEIV:'&:.CI:\
M]F:DD *?4X7N='=JVMPY=VT3*U_&3P30I(W3Z7-ZC)8L)2VW$K[S4W22MJ):
M=89>,CR5SE<BZ29+DB9(B(W(M@ @\/V%;3<KS5+4)+RA/QVCH:/%[=6>>O;Y
MB;=EHKI999:\SZ -?6>Q4U2VHFPCB>>DMSY'+)3Q-1[6+GKT=+6TX<'U+30X
MRQ&MM>Z:CC9%%Q[G::R299N57=*JJ*JE@N6!\/7&J=4U5M9QSUS<L;W,TEZU
M1JHA,VNVT=JI&TUNIXZ>!%ST6)M7K7K7SJ456#"EXM4U1%AZ^-I+?-(LG$RT
MZ2+$J[=%5.]A;"G(5TN58ZNDJUK6LTN-;\+23/255SUYJJKL3(LX(*7#A6]V
MOCH+!B#R>@D>KVQ3TZ2NBS7-=%R[?K)O"UABL%#)"R:2HGGD6:>>3\J1Z[5\
MQ,@"O\(']"[Q_EW%=P]A^]1X<MO(=^6CI*BEBE=#+ DJQN<Q%<K%76F:JJY=
M&9>ZZD@KZ.:EJXTDIY6Z+V*JIFGU'*DIXJ2EAIJ=FA#"Q(V-1<]%J)DB>H")
MP_AVGLEFEH8)'R23*Y\T\FMTCW)K<ISPC95P_8*:VK.E0L*N7C$9HYZ3E=LS
M7K)@ 0=KL*T.)KO=EJ$>E>D:<5H9:&@W+;GKS]!%SX4N%#<:JJPQ=^3V53N,
MFII(4DCT^ES<]A< ! 87P[R/+5U=75OKKG6*BSU+VHW-$V-1.A",7"ERME54
M/PQ>4H:6H>LCJ66!)6-<NU6Y[/07( 0.&,/NL[JNIJZZ6ON%6Y'33O311<MB
M-;L1">  IE(SD3A&JVO^#2WN%)(W=''1[6^E455^LEK/8%H<0W:[U%2E1/6J
MUK$T-'BHV[&[5SV)U;"<<UKE17-1<ES3--A] ZEWH([G:ZNAG^+J(W1JN6>6
M:;?JVE:K\(5%;@ZALDES1):5[7-J>)SS1N>BFCI="*B;>@N  IW(&+/TP_\
MQT?B6.BHY>26T=UG;7R.8K)I'1HQ)47/:U-2:M1W@!2(\'W>U*^+#6(I*2A<
MJJE//"V9(\_[JJ2F&L+,M59-<*VLFN-UF;HOJ94RR;U-3H0L8 K^)\,0WN2"
MJBJ):&YT_P 35P_E-3J5.E/XZR'FPE?+FQ*:_8FDGH/Z\,$#8ED3J5R?[EX
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M@
M
M
M
M
M
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MSJ215VJC?R5]6KZ@+<
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M;HU5TG=5N1=J-7\G]Z_6!<
M                       &O>$3@FL6/+S!<[O5W.&>&G2F:VEDC:U6HYSL
MUTF.7/-Z]/45?^3?A'O*_;^'_2 -M./B4Q:)2T'\F_"/>5^W\/\ I#^3?A'O
M*_;^'_2 +[&+^Q:#^3?A'O*_;^'_ $A_)OPCWE?M_#_I #V,7]BT'\F_"/>5
M^W\/^D26&N C#.'K]0W:BKKR^IHY4EC;+-$K%5.M$C1<OK $X^),6F2T-L
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C9$1$1$1,D38B                               '_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
